Black & Decker ( BDK) posted a 60% plunge in second-quarter earnings, but beat expectations, prompting the company to raise its full-year outlook.Investors were pleased with the news, sending shares up more than 6% to $35.91 in pre-market trading. During the quarter the toolmaker and home-improvement products company earned $38.3 million, or 63 cents a share, compared with $96.7 million, or $1.56 a share, a year ago. Analysts expected a profit of 37 cents a share. Black & Decker attributed its better-than-expected earnings to cost cuts, as the company slashed its dividend, eliminated jobs, and lowered executive compensation. Revenue sank 27% to $1.19 billion, with sales of its largest unit, power tools and accessories, down 21% in the quarter. The company now expects full-year earnings in the range of $1.65 to $2 a share, up from prior forecast of $1.50 to $1.90 a share. But Black & Decker cut its sales forecast, predicting a 24% slump, not the 20% decline previously expected, as the company sees weakness in most of its markets perpetuating.