NEW YORK, Jan 23- Timkensteel Corp, a producer of high-quality steel used in products ranging from oil rigs to fighter jets, looks to be an attractive takeover candidate as its shares slide, said Eric Marshall, lead portfolio manager of the $1.3 billion Hodges Small Cap fund. Energy-related products account for approximately 30 percent of Timkensteel's...
Dec 15- Emerson Electric Co said it would sell its power transmission unit to Regal Beloit Corp, a maker of electric motors, for $1.44 billion as it streamlines its business. Regal Beloit's shares rose 6 percent premarket on Monday on the deal, the company's biggest acquisition. Regal Beloit was competing with ball bearings maker Timken Co, brake and clutch maker...
Oct 28- Timken Co, a maker of ball bearings and gearboxes, reported a better-than expected rise in quarterly revenue, driven mainly by higher sales in its process industries business. Net sales rose 7.7 percent to $788 million in the third quarter ended Sept. 30, beating the average analyst estimate of $783.1 million, according to Thomson Reuters I/B/E/S.
Oct 28- Timken Co, a maker of ball bearings and gearboxes, reported a quarterly loss, hurt by a charge related to the restructuring of its aerospace unit. The net loss attributable to the company was $14.8 million, or 16 cents per share, in the third quarter ended Sept. 30 compared with net income of $52.2 million, or 54 cents per share, a year earlier.
July 31- Timken Co reported a lower-than-expected quarterly profit, hurt by a fall in demand for its ball bearings and power transmission components from the automotive and mining industries. Net income attributable to Timken fell to $62.7 million, or 68 cents per share, for the second quarter ended June 30, from $82.8 million, or 86 cents per share, a year earlier.
July 30- Timken Co reported a 24 percent drop in quarterly profit, partly hurt by lower demand for its ball bearings and power transmission components from the automotive and mining industry. Net income attributable to Timken fell to $62.7 million, or 68 cents per share, for the second quarter ended June 30 from $82.8 million, or 86 cents per share, a year earlier.
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