Ball bearings maker Timken Co. (IW500/201) 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.
Timken also authorized an additional 10 million share buyback program.
By Abinaya Vijayaraghavan, Reuters
Editing by Saumyadeb Chakrabarty
Copyright Reuters, 2014