Danaher Drops Most in Four Weeks After Profit Forecast Cut
Danaher Corp. (DHR) fell the most in four weeks after the maker of dental and laboratory equipment reduced its 2012 earnings forecast, citing the strengthening of the dollar and restructuring expenses.
The shares declined 1.9 percent to $51.12 at the close in New York, the biggest daily slide since June 21. They have gained 8.7 percent this year.
Full-year profit per share is expected to be $3.19 to $3.26, down from an earlier forecast of $3.25 to $3.35, the Washington-based company said in a statement today. Costs for restructuring will be about $100 million, Danaher said.
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