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Monday, May 18, 2009

Illinois Tool Works reiterates 2Q profit forecast

Illinois Tool Works Inc. backed its second-quarter guidance Friday, saying its total revenue should grow 5% to 11% when compared to the prior quarter. The Glenview, Ill., manufacturer expects earnings from continuing operations to be in the range of 25 cents to 37 cents a share. For the three months ended April 30, Illinois Tool Works said operating revenue fell 25%. Base revenues appear to be stabilizing, the company said. Shares of Illinois Tool Works fell 1.3% in premarket trading to $33.09.

Disclosure I am long ITW shares.

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