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Thursday, June 19, 2014

Timken raises full-year earnings forecast, (NYSE: TKR)

Ball bearings maker Timken Co raised its full-year earnings forecast due to increased demand for its products. The company said it expects full-year earnings from continuing operations of $2.40-$2.60 per share, above its previous estimate of $2.20-$2.50.

The Timken Company (Timken)develops, manufactures, markets and sells products for friction management and mechanical power transmission, alloy steels and steel components. Shares of TKR remained unchanged at $66.58. In the past year, the shares have traded as low as $50.22 and as high as $67.14. On average, 738409 shares of TKR exchange hands on a given day and today's volume is recorded at 0.