Updated from 8:36 a.m. EST

Rockwell Automation's ( ROK) fortunes took a turn for the better in the past two weeks.

The instrument and controls manufacturer, Wednesday, raised second-quarter and full-year earnings guidance from what it provided on March 10.

Rockwell now expects to earn 37 cents to 39 cents a share in the quarter, exceeding analysts' consensus forecast of 36 cents a share. Two weeks ago, the Milwaukee-based company forecast a profit of 35 cents to 38 cents a share. The company also expects revenue to grow about 3% in the quarter.

For its 2004 fiscal-year ending in September, the company is now forecasting EPS of $1.40 to $1.45 a share, compared with its prior estimate of $1.35 to $1.45 a share and a consensus forecast of $1.44, according to Thomson One Analytics.

Rockwell gave no reason for its improved outlook.

Shares gained $1.05, or 3.3%, to $32.80.