Tyco slumps on report of Q3 warning By Tomi Kilgore
Shares of Tyco International (TYC: news, chart, profile) took a late afternoon dive, on reports that the company warned of a fiscal third quarter miss. The company said earnings for the current quarter could be 65 to 68 cents a share, according to the Dow Jones newswire, below the average analyst forecast compiled by Thomson Financial/First Call of 76 cents a share. The stock is down $1.45, or 4.8 percent, at $29.05; just prior to the news, the stock was changing hands around $31. Dow Jones also reported the company as saying that its electronics unit provided a zero-to-25 cents per share risk to earnings, and that the company believed there was a"50-50" chance that its CIT Group would be sold.


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