(Reuters) – Industrial conglomerate Honeywell International Inc posted a better-than-expected quarterly profit and slightly raised its full-year forecasts on Thursday, on strong performance in its aviation business. Aviation suppliers, such as Honeywell and General Electric, have gained from faster-than-expected rebound in air travel, which has driven demand for parts and services. Sales at Honeywell’s aerospace…
A look at the day ahead in U.S. and global markets from Mike Dolan With markets still betting Wednesday’s interest rate hike from the Federal Reserve was the last in the cycle, the European Central Bank is due to follow suit today – while Meta provided one of bright spots of a packed corporate earnings…
(Reuters) – Gap Inc has turned to Richard Dickson, credited with turning around the Barbie brand at Mattel, to lead the struggling retailer’s revamp efforts after years of inconsistent sales and profits. The exit of Art Peck in 2019 after nearly four years as CEO in the middle of a restructuring plan to split Old…
By Michal Aleksandrowicz (Reuters) – Forvia’s shares fell as much as 8% in early trading on Thursday, after a slight hike to the car parts maker’s annual targets failed to impress investors. The world’s seventh-largest automotive supplier raised its estimate for global auto production to around 86 million light vehicles this year, from 82 million…
(Reuters) – Hospital operator HCA Healthcare Inc on Thursday raised its annual profit forecast, betting on a recovery in surgical procedure volumes. The volumes of medical procedures are trending upwards after the U.S. government ended the public health emergency status for COVID-19 in May. Patients, particularly older adults, have been returning to hospitals for procedures…
(Corrects dateline) (Reuters) -Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world’s second-largest economy from a pandemic slowdown. Following are comments from firms on their China business during the latest reporting season: Company China recovery comments Citigroup The lender…
(Reuters) – A. O. Smith on Thursday raised its full-year adjusted profit forecast, helped by lower cost of steel and strong demand for water heaters in North America. The Milwaukee, Wisconsin-based company now expects an adjusted profit of $3.45-$3.60 per share, compared with its prior projection of $3.30-$3.50 per share. “We saw improvement in consumer…
By Victoria Waldersee and Miranda Murray BERLIN (Reuters) -Volkswagen on Thursday cut its full year sales target and pledged to improve its cash position in the second half by hiking prices and cutting costs as the German carmaker seeks to fend off tough competition in China, its top market. The reduced sales target of 9-9.5…
By Helen Reid, Corina Pons LONDON (Reuters) -Zara owner Inditex is in the process of stopping purchases from Myanmar, the company told Reuters on Thursday, as a result of a campaign by global workers’ union IndustriALL to convince companies to divest from the country. “Inditex is in the process of a phased and responsible exit…
(Reuters) – Auto parts distributor LKQ Corp lowered its full-year profit and sales guidance on Thursday, as falling commodity prices drag down growth prospects. LKQ, which also sells scrap and other materials to metal recyclers, have been hurt by falling metal prices. The company had earlier forecast metal prices to be a headwind in coming…
