Stanley Says Year’s Profit Will Fall Short

Stanley Works, the largest U.S. hand tools maker, said full-year profit excluding cost savings from a planned reincorporation in Bermuda will rise less than forecast.

Stanley expects profit at the upper end of a range of $2.72 to $2.81 a share, less than the $2.91 average estimate of analysts.

Shares of Stanley Works fell 85 cents to $42.70 on the NYSE.