US machinery makers eye bumper earnings for now, but inventory glut looms
(Reuters) – U.S. equipment makers are likely to face excess inventory early next year as demand from farmers and construction…
Puma sales beat estimates but U.S. market drags
(Reuters) – German sportswear brand Puma’s second-quarter sales grew by 11%, the company reported on Wednesday, slightly ahead of market…
European stocks lower; LVMH weighs ahead of Fed rate decision
European stock markets retreated Wednesday, as investors digested a slew of quarterly corporate earnings ahead of a Federal Reserve meeting…
Rolls-Royce leaps as airline and defence demand lifts profits
(Reuters) – Aero-engineer Rolls-Royce (OTC:RYCEY) hiked its full-year operating profit forecast by around 45% on Wednesday after operational improvements, increased…
Reckitt’s sales volume dip takes shine off like-for-like sales beat
(Reuters) -Reckitt Benckiser’s sales volume fell in the second quarter as the Dettol and Lysol cleaning products maker increased its…
Stellantis tops forecasts, looks to cost cuts to keep margins strong
(Reuters) – Revenue and operating profit grew at Stellantis in the first half to beat estimates, with CEO Carlos Tavares…
Nissan seals Renault deal, now faces hard yards in China
(Reuters) – Nissan will invest up to $663 million in Renault (EPA:RENA)’s new electric vehicle unit, the automakers said on…
Nike’s stock price could double, claims UBS
UBS believes Nike’s (NYSE:NKE) stock price “could double” if the company performs according to its long-term sales and margin targets.…
GM wrestles with costs, struggles with EVs as Q2 profits fall
(Reuters) -General Motors is wrestling with costs and struggling to build more electric vehicles, as it reported Tuesday that adjusted…
London court revives $3.5 billion mass forex lawsuit against banks
(Reuters) – A proposed 2.7 billion pound ($3.5 billion) mass lawsuit against major banks including JPMorgan (NYSE:JPM) and Citigroup (NYSE:C)…