Another construction casualty

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 and remodeling."

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.