(Reuters) – Wal-Mart Stores Inc, which has pledged to buy an additional $250 billion in U.S.-made goods over the next decade, is hitting a snag as it tries to meet that promise: Some vendors keen to participate in the initiative complain that after decades of offshoring it has become impossible to domestically source even commonplace components for their products.
So America’s largest retailer has invited dozens of small- and midsize manufacturers that aren’t necessarily interested in having a direct relationship with Walmart to come to Denver this week for a two-day matchmaking event.
(Reuters) – Deere & Co on Wednesday posted a lower quarterly profit and cut its full-year forecast as farmers facing falling income as a result of declining grain prices continued to pull back on purchases of the company’s tractors, harvesters and other machinery.
The Moline, Illinois-based company, the world’s largest maker of ag equipment, said it now expected to earn $3.1 billion in fiscal 2014, down from its previous forecast of $3.3 billion, because of falling farm income in the United States, among other factors.
FERGUSON Mo (Reuters) – The fatal shooting of an unarmed black teenager in Ferguson, Missouri, on Saturday, and subsequent violent protests, highlight a stubborn racial divide in a St Louis suburb that has struggled to build healthy relations between blacks and whites.
From the 1970s, Ferguson, pop. 21,000, changed from being overwhelmingly white to predominantly black as whites left the town and its surrounding areas, seeking to avoid racial integration of public schools.
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.