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Snap-On 1st-Quarter Profit Rises 17% as Margins Improve

Snap-On Inc.'s (SNA) first-quarter earnings rose 17%, ahead of Wall Street estimates, as the toolmaker reported improving margins, though sales in the company's commercial and industrial segment continued to feel pressure."We're encouraged with our first-quarter performance, which included significant improvement in operating margin and a 15.7% increase in diluted earnings per share, despite continuing headwinds that are impacting specific areas of our business," said Chief Executive Nick Pinchuk.Snap-On controls a significant size of the professional tool market, where it competes with Stanley Black & Decker Inc.'s (SWK) Mac tools unit and Danaher Corp.'s (DHR) Matco. While many of its products focus on the vehicle dealership and repair-center market, Snap-On has also sought growth in emerging markets and higher-margin segments such as power generation and aerospace.For the latest quarter, Snap-On reported a profit of $82.8 million, or $1.40 a share, up from $71 million, or $1.21 a sh...

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  1. Danaher 1st-Quarter Net Rose 13% on Gain, Improved Margins

    Danaher Corp.'s (DHR) first-quarter earnings rose 13%, thanks in part to an investment gain and improved margins, although its revenue growth was slower than expecte...

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    Roche Holding AG has joined the bidding for Life Technologies Corp and hired bankers to advise on a potential deal, while buyout firms KKR & Co LP and Hellman & Frie...

  3. Are Consumers Returning to the Stores?

    DDR CEO Daniel Hurwitz on the outlook for retail and consumer spending.

  4. Danaher Net Rises 10.5% on Improved Sales

    Danaher Corp.'s (DHR) fourth-quarter earnings rose 10.5% as all of the diversified manufacturer's segments posted increased sales.The company lowered its 2013 adjust...

  5. Danaher Shares Jump On Strong Earnings Outlook

    Danaher Corp. shares were up as much as 4% early Wednesday, leading percentage gainers on the S&P 500 after the company said its fourth-quarter results would likely ...

  6. Danaher Cooper to Sell Apex Tool to Bain Capital

    FBN's Lori Rothman breaks down late-morning market news.

  7. Bain Capital Scoops Up Apex Tools JV for $1.6B

    Cooper Industries (NYSE:CBE) and Danaher (NYSE:DHR) revealed an agreement on Wednesday to sell their Apex Tool Group joint venture to private-equity firm Bain Capita...

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