CHICAGO (Reuters) – Metals company Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) on Monday it would acquire titanium supplier RTI International Metals Inc (RTI.N: Quote, Profile, Research, Stock Buzz) as it continues to invest in more profitable products for the aerospace and automotive industries.
Alcoa said the transaction has an enterprise value $1.5 billion, or the equivalent of $41 per share, in an all-stock transaction that includes $330 million of RTI cash on hand and up to $517 million in RTI’s convertible notes.
SAN FRANCISCO/CHICAGO (Reuters) – Amazon.com Inc packages ordered by its Prime members regularly arrived late during the holidays, a Reuters/Ipsos survey shows, reflecting the strain on the logistics network that transformed the company into an e-commerce powerhouse.
Customer satisfaction with Prime is extremely high – 96 percent are happy with its two-day shipping service, the survey revealed. But the results raise questions for Amazon as it expands and takes greater control of its shipping system.
SAN FRANCISCO/CHICAGO, Feb 11 (Reuters) – Amazon.com Inc
packages ordered by its Prime members regularly arrived
late during the holidays, a Reuters/Ipsos survey shows,
reflecting the strain on the logistics network that transformed
the company into an e-commerce powerhouse.
Customer satisfaction with Prime is extremely high – 96
percent are happy with its two-day shipping service, the survey
revealed. But the results raise questions for Amazon as it
expands and takes greater control of its shipping system.
CHICAGO (Reuters) – First thing every morning Bill Hickey turns on the TV to see where the U.S. dollar is trading in the hope it has lost value against the euro and other currencies.
“And there it is, staring you right in the face,” says Hickey, president of Chicago-based steel company Lapham-Hickey Steel, about the dollar’s continued strength. “The strong dollar is going to be bad for us and it’s going to be bad for the U.S. industrial economy.”
CHICAGO, Feb 6 (Reuters) – A chronic shortage of drivers
means America’s long-haul trucking companies are struggling to
capitalize on cheap fuel prices that could allow them to take
goods shipments away from railroads.
A 50 percent fall in oil prices from their peak last year
should have erased some of the cost advantage railroads enjoy,
especially for longer hauls.
CHICAGO, Feb 4 (Reuters) – If the U.S. dollar stays at
current levels, Whirlpool Corp’s revenue could take a
hit of up $1 billion in 2015, but the world’s largest appliance
maker expects to protect its profits, Chief Executive Officer
Jeff Fettig told Reuters on Wednesday.
Raising prices in some foreign markets should offset some of
the effects of the strong dollar, which reduces the value of
goods sold overseas, he said.
CHICAGO, Feb 4 (Reuters) – Whirlpool Corp on
Wednesday said 2015 would be another solid year for U.S. sales
of its washers, stoves and refrigerators because of the housing
market’s recovery and low oil prices, and its shares rose 6
The world’s largest maker of home appliances said
fourth-quarter earnings fell due to costs from recent
acquisitions, but the results beat analysts’ expectations. Sales
in North America, its largest market, rose 6 percent.
Feb 3 (Reuters) – United Parcel Service Inc on
Tuesday reported a disappointing peak holiday season and warned
that U.S. online shopping habits are hard to predict and getting
it wrong will slice into profits.
“It (forecasting E-commerce) is both hard for our customers
and for us,” Chief Financial Officer Kurt Kuehn told Reuters on
Tuesday after UPS reported that fourth-quarter profit fell but
forecast earnings within the range of estimates.
CHICAGO, Jan 27 (Reuters) – U.S. Steel Corp on Tuesday
warned that low oil prices and the strong U.S. dollar could
negatively impact its business in 2015 but said the potential
for U.S. higher consumer spending could help lift demand.
The Pittsburgh-based company gave its assessment of what it
called a “volatile market” in 2015 as it reported a lower fourth
quarter net profit that was hurt by falling steel prices and the
strong U.S. dollar. But the company’s earnings came in well
above market expectations and sent its stock up nearly 9 percent
in aftermarket trading.
CHICAGO, Jan 27 (Reuters) – Caterpillar Inc on
Tuesday warned the recent fall in oil prices would hurt its
energy equipment business in 2015 and gave an outlook for the
year below market expectations after posting a disappointing
fourth quarter net profit.
The report sent the company’s shares down nearly 8 percent
in premarket trading.