Cooper Industries Limited (Cooper) reported significant y-o-y decline in revenues and earnings for 2Q 09. Furthermore, Management has revised its FY 2009 guidance downwards and has provided a conservative outlook for the full year, highlighting the impact of the weak global economic environment on end-market demand for the company's product-line. Hence, we maintain our cautious outlook for the NYSE common stock and reiterate our SELL rating over our 6-12 month investment horizon....

Cooper’s 4Q 08 top-line growth was impacted by slowdown in the global construction market, particularly in the US. Demand for housing in the US continues to decline, resulting from higher unemployment and weakness in credit markets, which has reduced the availability of financing. According to Reed Construction Data’s (RCD) recent February 2009 report, total construction spending in the US declined 5.2% y-o-y to US$1.0 tn…

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Cooper Industries Limited (Cooper) has revised its 4Q 08 earning estimates downwards, reflecting the ongoing slowdown in its key end markets of the US and Western Europe. However, we have incorporated the revised company outlook in our previous update report and, hence, we maintain our fundamental outlook for the company. Therefore, we do not anticipate a change in our current BUY…