Stanley Black & Decker sees Q3 profits rise

10/18/2013 | Bloomberg Businessweek · Reuters

Stanley Black & Decker's third-quarter earnings reached $166 million, exceeding analyst expectations. But weakness in Europe and the partial government shutdown prompted it to scale back its 2013 earnings forecast to $4.90 to $5 per share, from a previous forecast of $5.40 to $5.65 per share. The company saw a "modest impact" from the shutdown in the third quarter and additional effects are possible in the fourth quarter, CFO Donald Allan said.

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Bloomberg Businessweek · Reuters

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