UPDATE 1-Barnes cuts '04 outlook, to eliminate jobs


(Adds background) CHICAGO, Dec 22 (Reuters) - Barnes Group Inc. , which makes parts for commercial and military airplanes and distributes maintenance supplies, on Wednesday cut its 2004 profit outlook and announced plans to cut jobs due to high raw material costs. Barnes said it now expects to earn $1.34 to $1.39 a share in 2004, down from its previous forecast of $1.60 to $1.65. Analysts were expecting the company to earn $1.59 a share, according to Reuters Estimates. Included in the ...

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