Parker Hannifin cuts quarterly outlook

Newswire

CHICAGO, March 28 (Reuters) - Parker Hannifin Corp. , a maker of industrial products, on Monday cut its quarterly forecast due to softening in the automotive market, slowdowns in the mobile markets and inventory reductions. The maker of systems that control motion, flow and pressure in industrial equipment said it now expects to earn $1.05 to $1.15 a share from continuing operations in its fiscal third quarter ending in March. It had previously forecast earnings in the range of $1.10 to ...

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