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Apr 29, 2014

Eaton projects 2nd-qtr profit below Street, shares fall

April 29 (Reuters) – Diversified manufacturer Eaton Corp
on Tuesday forecast second-quarter profit below Wall
Street’s target, weighed down by restructuring costs.

Shares of the U.S. maker of electrical and hydraulic systems
fell 2.5 percent in afternoon trading, even though the company
reported slightly better-than-expected first-quarter earnings

Apr 22, 2014

China is a driver, not a drag, for U.S. earnings in first quarter

NEW YORK (Reuters) – Economic growth may be slowing in China, and fears of a credit crunch there may be rife, but the world’s second-largest economy was a driving force for U.S. company profits in the last quarter.

Some of the biggest names in Corporate America, including Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz), General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz), United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) and McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) all in the past week reported strong results from their China operations. In some cases this helped to offset weakness in the U.S. or Europe.

Apr 22, 2014

United Tech broad revenue growth helps profit beat Street

By Lewis Krauskopf

(Reuters) – United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) reported a higher-than-expected quarterly profit on Tuesday, helped by revenue growth across its aerospace and commercial building segments and strong sales in China.

The diversified manufacturer of elevators, jet engines and climate control systems, also lifted the low end of its 2014 earnings forecast.

Apr 17, 2014

GE industrial profit boost underscores strategy, shares up

By Lewis Krauskopf and Ernest Scheyder

(Reuters) – General Electric Co (GE.N: Quote, Profile, Research) posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and transportation.

GE, which is increasingly focusing on its traditional manufacturing businesses over its finance unit, posted an 8 percent increase in industrial revenue, even as overall company revenue fell slightly short of Wall Street’s target.

Apr 17, 2014

GE industrial profits rise 12 percent, shares up

By Lewis Krauskopf and Ernest Scheyder

(Reuters) – General Electric Co posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and transportation.

GE, which is increasingly focusing on its traditional manufacturing businesses over its finance unit, posted an 8 percent increase in industrial revenue, even as overall company revenue fell slightly short of Wall Street’s target.

Apr 16, 2014

GM CEO ‘agonized’ over putting two engineers on paid leave

NEW YORK, April 15 (Reuters) – General Motors Co
Chief Executive Mary Barra said she “agonized” over last week’s
decision to put two GM engineers on paid leave pending the
outcome of an investigation into faulty ignition switches linked
to at least 13 deaths.

Barra’s comments, made to reporters on Tuesday after an
industry conference ahead of the New York Auto Show, referred to
Ray DeGiorgio and Gary Altman, two engineers involved in the
development of the defective switches, which are being replaced
in 2.6 million recalled GM vehicles.

Apr 15, 2014

GM to launch product development group focused on safety

NEW YORK (Reuters) – General Motors Co. (GM.N: Quote, Profile, Research, Stock Buzz) will create a new global product integrity organization that will focus on product safety and quality, said GM Chief Executive Mary Barra in a speech on Tuesday.

“This new way of developing vehicles will provide the highest levels of safety, quality, and customer service, and ensure that a situation like the ignition-switch recall doesn’t happen again,” Barra said in New York.

Apr 14, 2014

GE Capital seen ripe for more slimming after credit card IPO

By Lewis Krauskopf

(Reuters) – As General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) starts spinning off its consumer credit card business, some on Wall Street are hoping that the U.S. industrial conglomerate will eventually slim down its GE Capital finance unit even further.

Commercial real estate, which GE Capital expects to make up 10 percent to 15 percent of its portfolio in the future, stands as another major potential area for GE to abandon, analysts and investors said.

Apr 7, 2014

Honeywell names two vice chairmen, CFO in management shuffle

By Lewis Krauskopf

(Reuters) – Honeywell International Inc (HON.N: Quote, Profile, Research, Stock Buzz) promoted two executives to the position of vice chairman and named a new chief financial officer as part of a series of senior leadership changes announced by the U.S. diversified manufacturer on Monday.

The management shuffle comes after Honeywell unveiled ambitious five-year financial targets last month including boosting company sales to more than $50 billion by 2018, from $39.1 billion last year, as it targets $10 billion in acquisitions.

Apr 4, 2014

Insight – After hard winter, U.S. housing industry sees signs of pickup

NEW YORK (Reuters) – In Indianapolis, an open house event tends to draw 10 people on a good day.

But after the snowiest winter on record for the U.S. Midwestern city, prospective home buyers were champing at the bit: 45 people came to an open house late last month, according to mortgage executive Greg Block.

    • About Lewis

      "I help coordinate coverage of healthcare companies for Reuters in the United States. I also cover health insurers, pharmacy benefit managers, generic drugmakers and pharmaceutical companies."
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