Tupperware, American Standard, CellStar Post Profit Warnings

Shares of Tupperware Corp. tumbled to a 52-week low Monday after the maker of food storage containers warned it will post a modest loss in the third quarter because of weak results in Latin America and Europe.

American Standard Cos., a maker of air conditioners, and CellStar Corp., which makes wireless communications products, also issued profit warnings based on problems in emerging countries, sending their stocks down sharply.

Tupperware had a small profit in the year-ago third quarter. Analysts had expected the Orlando, Fla.-based company to earn 9 cents a share in the latest quarter, according to First Call Corp.

Tupperware said it also expects to report a drop in full-year earnings of between 25% and 30%.

“Our progress in regaining lost momentum from the productivity issues in Argentina and Brazil is taking longer than we expected,” Tupperware said. It said a big drop in the Mexican peso will hurt earnings while its European business is also lagging.

Tupperware’s stock slid $3.81, or 21%, to close at $14.38 on the New York Stock Exchange.

American Standard said it will have 1998 earnings of $2.90 to $3 a share, less than the $3.10 analysts expected, because of shrinking demand for its air conditioners from economically troubled Eastern Europe, Russia, Asia and Latin America.

The Piscataway, N.J.-based company’s stock fell $8.75, or 25%, to close at $25.25 on the New York Stock Exchange.

Meanwhile, CellStar said the unsettled economies in Latin America and the Asia-Pacific region will trim its third-quarter earnings by 17 cents to 20 cents a share. The Carrollton, Texas-based company said fourth-quarter results also could be lower than forecasts.

Analysts were expecting CellStar to earn 31 cents share in the third quarter.

CellStar’s stock lost 35% of its value, falling $2.69 to close at $5 on Nasdaq.