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davejh23 (< 20)

As Goes WHR, so Goes the Economy...



October 28, 2011 – Comments (0) | RELATED TICKERS: WHR least that's what someone here on CAPS used to say.  Anyhow:

"NEW YORK (AP) -- Appliance maker Whirlpool Corp. plans to cut 5,000 jobs, about 10 percent of its workforce in North America and Europe, as it faces soft demand and higher costs for materials.

The world's biggest appliance maker also on Friday cut its 2011 earnings outlook drastically and reported third-quarter results that missed expectations, hurt by higher costs and a slowdown in emerging markets. Shares fell 12 percent in midday trading.

Whirlpool's stock fell $7.19, or 11.9 percent, to $53.28 in midday trading. The stock has already sunk 32 percent this year."


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