Outlook roundup: Sherwin-Williams, Crown Castle

Among the earnings projection stories for Tuesday, Oct. 20, from AP Financial News:

CLEVELAND (AP) — Paint maker Sherwin-Williams Co. said it expects 2009 sales to drop as much as 12.5 percent from 2008, reflecting a year scarred by economic troubles that crippled demand across all customer segments.

HOUSTON (AP) — Crown Castle International Corp., an operator of cell phone towers, said it expects to beat its July forecasts for adjusted earnings and site rental revenue in the third quarter.

LONG ISLAND CITY, N.Y. (AP) — Steve Madden Ltd. raised its 2009 profit outlook, partly because of strong boot sales, lifting shares of the shoe company in morning trading.

GLENVIEW, Ill. (AP) — Illinois Tool Works Inc., which makes industrial products, said it expects to post a fourth-quarter profit from continuing operations of between 54 cents and 66 cents per share.

MINNEAPOLIS (AP) — Pentair Inc., which makes systems to treat and store water, issued initial guidance for the fourth quarter and lowered its full year 2009 earnings-per-share forecast following a 13 percent decline in third-quarter profit.

CLEVELAND (AP) — Parker Hannifin Corp. boosted its fiscal-year profit prediction, citing signs that the economic downturn may have reached its bottom.

BEAUMONT, Texas (AP) —Consumer electronics retailer Conn's Inc. warned that it may post a loss for the third quarter ending Oct. 31, and withdrew its earnings outlook.

NEW YORK (AP) — Drugmaker Forest Laboratories Inc. trimmed its fiscal 2010 profit forecast, pointing to greater research and development spending.