Rockwell Ends In-Flight Network Investment

Rockwell International(ROK) said Wednesday it expects second-quarter earnings will be in line with Wall Street's estimates. The company also said it will halt investments in its joint venture, the In-Flight Network, due to slower-than-anticipated market development.

The consensus of 10 analysts surveyed by Thomson Financial/First Call is that Rockwell, a supplier of electronic controls and communications, will earn 75 cents a share in the quarter, down 10 cents from the company's year-ago earnings of 85 cents a share. ...