It’s crystal clear that specialty glass maker Corning Inc. hopes to benefit from the pickup in sales in LCD TVs in the U.S. and China. On Tuesday, the world’s biggest producer of LCD glass once again raised its forecast for the sales of its main income earner. Corning now anticipates second quarter LCD glass volume [...]
Cereal-maker General Mills pleased investors yesterday after upgrading its earnings guidance for fiscal 2009. General Mills now anticipates earnings of US$3.89 per share, up a few cents from its previous earnings view of US$3.87 per share due to a solid operating performance and a reduced quarterly tax rate. Looking to the future, General Mills said [...]
Unfortunately it does not look like clear skies for aircraft giant Boeing Co. The company said yesterday that its orders in May nose-dived more than 70% from a year ago, after airlines canceled or halted plans for new planes. After receiving only 20 orders during the month (vs. 67 in May 2008), Boeing hopes it [...]
The European Commission (EC) sent a strong message to the world yesterday, as it fined Intel Corp. a record EUR 1.06B for using illegal practices to maintain market dominance. Though Intel is appealing the ruling, which also orders it to halt these tactics, things do not look good for the world’s biggest chipmaker which paid [...]
One year ago, Adidas AG reported solid earnings as its soccer equipment sales were boosted by the Euro 2008 soccer tournament. This year however, the sporting goods maker wasn’t as fortunate, as its profits plummeted 97% to EUR 5M for the first three months of 2009. Sales for the period were down 2% to EUR [...]
Kraft Foods Inc., the biggest U.S. food maker, posted first quarter results that topped forecasts. Earnings per share (EPS) grew 15.39% to USD 0.45. Analysts were expecting USD 0.40. Kraft has been able to achieve this earnings growth through staunch attention to curbing production costs. It has also enhanced advertising and product development to allow [...]
Jaguar Land Rover is seeking opportunities while demand for durable goods dwindles. In a strategic shift, the UK-based company will market its brands in India for the first time later this year. Although India’s domestic sales for passenger vehicles slowed to 1.13% between April ’08 and March ’09 from 12% (YOY), demand for cars is [...]
WASHINGTON (Reuters) – General Motors Corp Chief Executive Rick Wagoner resigned under pressure from the Obama administration on Sunday as the government prepared to announce a second bailout for the company and its smaller rival Chrysler LLC.