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Market commentary Aug 2009 Verified

Nortek Anticipates Downturn in Non-Residential Construction

Nortek expects the performance of its Commercial Air Conditioning and Heating Products segment to be adversely affected by an anticipated downturn in non-residential construction activity, resulting in lower orders for the second half of 2009.

“Going forward, the Company expects the performance of this segment to be adversely affected by the anticipated downturn in non-residential construction activity resulting in an expected lower level of orders to be delivered during the second half of 2009.”

Entities

Nortek, Inc. · Mentioned
HVAC Sentiment: Negative

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.