Ferro (FOE -0.9%) slips today, despite raising its Q1 and FY13 per-share earnings guidance as...

|About: Ferro Corporation (FOE)|By:, SA News Editor

Ferro (FOE -0.9%) slips today, despite raising its Q1 and FY13 per-share earnings guidance as the specialty chemical company cited progress on its cost-cutting initiatives. It now expects its Q1 EPS to be $0.05 to $0.07, and FY13 earnings of $0.30 to $0.35. Cost savings initiatives are now estimated to generate savings of $30M in 2013, rising to $70 million in 2014.