Aug 6 (Reuters) – Russian President Vladimir Putin’s
announcement on Wednesday that he plans to slap a one-year
import ban on agricultural products from countries that have
imposed sanctions on Russia is unwelcome news to U.S.-based
makers of farm equipment.
But the move is unlikely to have a big impact on the
near-term financial performance of companies like Deere & Co
and Agco Corp because Russia accounts for a
small part of their sales.
(Reuters) – Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) reported higher-than-expected second-quarter earnings on Thursday but said sales fell as a continued slump in the global mining industry offset a rebound in the North American building sector.
The stock fell 2.7 percent to $105.40 in early trade.
The company, the world’s largest maker of earth-moving equipment, raised its full-year profit outlook to $5.75 a share, from $5.55 a share. The outlook was lifted, in part, by a $2.5 billion stock repurchase it said it would make during the current quarter.
(Reuters) – Whirlpool Corp (WHR.N: Quote, Profile, Research, Stock Buzz) on Wednesday reported a lower-than-expected quarterly profit as sales fell in every region except North America. The company also cut its full-year earnings outlook, citing expenses from two pending acquisitions.
The news sent shares of Whirlpool, the world’s largest maker of home appliances, down as much as 5.5 percent.
July 22 (Reuters) – U.S. motorcycle maker Harley Davidson
Inc came late to the offshoring game.
But now that the company has moved some production overseas
and built up a roster of foreign suppliers, it is discovering
why so many pioneers of the strategy are scrambling to relocate
July 22 (Reuters) – Harley-Davidson Inc cut its
full-year forecast for motorcycle shipments on Tuesday, citing
weaker-than-expected U.S. retail sales and a delay in getting
its newest bike into dealer showrooms.
The new outlook, which came as the company reported
higher-than-expected second-quarter earnings, sent
Harley-Davidson shares down as much as 3.1 percent to $65 in
(Reuters) – The second quarter is typically peak selling season for Harley-Davidson Inc as warmer weather in North America, the motorcycle maker’s No. 1 market, lures riders back into dealer showrooms.
But there is mounting evidence Harley’s retail sales came in on the light side in the three months ended June 30, raising the possibility it will have disappointing news for shareholders when it reports results next week.
July 16 (Reuters) – The second quarter is typically peak
selling season for Harley-Davidson Inc as warmer weather
in North America, the motorcycle maker’s No. 1 market, lures
riders back into dealer showrooms.
But there is mounting evidence Harley’s retail sales came in
on the light side in the three months ended June 30, raising the
possibility it will have disappointing news for shareholders
when it reports results next week.
BENTONVILLE Arkansas (Reuters) – U.S. employers may be hiring again, but the job market recovery is not giving ordinary consumers enough confidence to increase their spending, a top Wal-Mart (WMT.N: Quote, Profile, Research, Stock Buzz) executive said on Monday.
In an interview with Reuters, Bill Simon, the president and chief executive officer of Wal-Mart U.S., said the improving employment picture had so far failed to raise cash register receipts at the retailer’s U.S. stores.
June 4 (Reuters) – When Walmart pledged last year to
buy an extra $250 billion in U.S.-made goods over the next
decade, it appeared to be just what was needed to help move
America’s putative manufacturing renaissance from rhetoric to
But suppliers trying to reshore production as part of the
initiative by the world’s largest retailer are running into
practical problems as they try to restart long-idled corners of
May 14 (Reuters) – Deere & Co on Wednesday reported a
stronger-than-expected quarterly profit but trimmed its outlook
for full-year sales of its green-and-yellow farm equipment,
citing deteriorating conditions in the former Soviet Union.
Sales of Deere’s tractors and harvesters fell a
worse-than-expected 12 percent during the quarter, the company
said, but aggressive cost cuts and a lower-than-expected tax
rate helped offset that weakness.