Flowserve (FLS -0.7%) ups the lower-end of its FY12 earnings guidance, saying it should come in...

Flowserve (FLS -0.7%) ups the lower-end of its FY12 earnings guidance, saying it should come in towards the higher end of its previous view due to an increase in bookings of its aftermarket products. It now sees FY12 earnings of $8.45 to $8.60 per share, up from its prior view of $8.20 to $8.70. CEO Mark Blinn attributes the better performance in part to margin improvements and ongoing cost control efforts. Separately, CL King cut the shares from Strong Buy to Buy on valuation.