UPDATE: Emerson Electric Posts Drop In Q2 Profit

Emerson Electric Co

posted a drop in its second-quarter profit. Emerson Electric's quarterly net income fell to $545 million, or $0.74 per share, from $556 million, or $0.73 per share, in the year-ago period. Its sales gained 1% to $5.92 billion, versus analysts' estimates of $6 billion. Emerson Electric shares closed at $52.54 yesterday.