Dover Shares Fall After Earnings Outlook Cut

By Wallace WitkowskiMarketWatch Pulse

Dover Corp. shares fell in the extended session Tuesday after the maker of equipment for the energy and engineering sector cut its outlook for the year. Dover shares declined 3.4% to $60. The company forecast full-year earnings of about $3.62 a share, down from its previous forecast range of $3.73 to $3.80 a share, citing weaker market conditions and internal restructuring. Dover forecast 2016 earnings of $3.85 to $4.05 a share. Analysts surveyed by FactSet had estimated earnings of $3.74 a share for 2015 and $4.01 a share for 2016.

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