Toolmaker Stanley Works is out on the tape tonight warning
about 2008 earnings. The company is forecasting per-share profit of $4.20 to $4.40 vs. a consensus estimate of $4.50 among analysts. Management expects "a subdued economic environment, including a possible mild and short-lived U.S. recession, as well as continued deterioration of North American markets associated with homebuilding
You're probably familiar with the company's tools if you've ever walked the aisle at a Home Depot. It makes everything from hammers to tape measures for do-it-yourselfers
, as well as breakers, augers, and other industrial-strength equipment used in things like heavy construction and scrap metal recycling.