Emerson Drops Most Since September as Monthly Orders Decline
Stock Chart for Emerson Electric Co (EMR)
Emerson Electric Co. (EMR) declined the most since Sept. 30 after reporting November orders that were lower than analysts’ estimates.
Emerson fell 5.4 percent to $46.97 at 4 p.m. in New York trading. The shares have dropped 18 percent this year.
The St. Louis-based company’s trailing three-month orders for November, excluding foreign exchange, rose 4 to 5 percent compared with 8 percent in October and below the guidance range of 5 to 7 percent, Julian Mitchell, a New York-based analyst with Credit Suisse, said in a note today.
To contact the editor responsible for this story: James Langford at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.