Europe, defense issues remain

Investor's Business Daily

Sluggish car sales in Europe and other economic uncertainties weighed on automotive supplier Johnson Controls' (JCI) outlook. And continued uncertainty over defense budgets impacted contractor Rockwell Collins (COL). But both beat fiscal Q1 estimates. Johnson Controls shares fell 3% to 30.32. Rockwell shares slipped 1.9% to 58.99. Motion controls systems maker Parker-Hannifin (PH) beat for fiscal Q2 and reaffirmed full-year EPS bracketing expectations. Shares climbed 2.6% to 93.70.

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