Parker Hannifin soars past analysts' expectations

Second-quarter profits for Parker Hannifin Corp., a maker of motion-control technology for manufacturing, fell 33% to $104.6 million, or 64 cents per share, from $155.4 million, or 96 cents per share, a year earlier. Analysts on average had expected a profit of 35 cents per share. The company raised its full-year earnings forecast as sales and orders increased sequentially and could be further helped by its service to early-cycle markets, such as construction equipment, according to Reuters.

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