Author: Aishwarya Nair

By Bianca Flowers and Aishwarya Nair (Reuters) -Harley-Davidson Inc reported higher-than-expected quarterly profit on Thursday as a boost in bike shipments, coupled with strong pricing, allowed the motorcycle maker to navigate cost inflation and deliver on pent-up demand. Shares in the U.S. company rose as much as 9.6%, the biggest one-day move since last quarter’s…

By Bianca Flowers and Aishwarya Nair (Reuters) – Caterpillar Inc’s fourth-quarter earnings slid by 29%, the company reported on Tuesday, citing higher manufacturing costs and foreign currency effects that weighed on the industrial bellwether’s margins. The machinery maker has a robust $30 billion order backlog, but like other manufacturers it continues to grapple with supply…

By Aishwarya Nair (Reuters) – 3M Co said on Tuesday it would cut 2,500 manufacturing jobs and forecast a gloomy first-quarter as the U.S. industrial conglomerate struggles with slowing demand for consumer and electronic items. The downbeat outlook and quarterly results pile more pain on the company, at a time it faces separate lawsuits related…

By Bianca Flowers and Aishwarya Nair CHICAGO (Reuters) -Deere & Co on Wednesday posted a quarterly profit that easily beat Wall Street estimates with strong sales accelerated by price hikes for its agriculture and construction equipment, sending its shares to a record high. Despite supply chain challenges, the world’s largest farm equipment maker reported a…

By Bianca Flowers and Aishwarya Nair (Reuters) -Heavy-equipment maker Caterpillar Inc on Thursday topped Wall Street estimates for profit and revenue in the third quarter due to price increases and strong order activity from energy and mining customers. Shares of the world’s largest construction and mining equipment manufacturer rose 8.5% after it reported net income…

By Rajesh Kumar Singh and Aishwarya Nair (Reuters) -American Airlines Group Inc on Thursday forecast that fourth-quarter profit would exceed analyst estimates after posting better-than-expected earnings in the third quarter, as demand for travel remained resilient despite higher airfare and growing risks of an economic recession. The Texas-based carrier expects adjusted profit between 50 and…

By Aishwarya Nair and Mike Stone (Reuters) -Gulfstream jet maker General Dynamics Corp on Wednesday posted a 3.9% rise in second-quarter profit as business jet demand remained strong, but revenues missed forecasts as supply chain problems continued to hamper the defense industry. Shares were up 1.6% in early trading after the Reston, Virginia-based company posted…

By Lisa Baertlein and Aishwarya Nair (Reuters) – United Parcel Service on Tuesday said it will not lift the number of packages it delivers for Amazon.com, its biggest customer, as it focuses on shipments with the highest financial returns. The world’s biggest package delivery firm has bolstered profits by raising prices for e-commerce shipments that…

By David Shepardson and Aishwarya Nair WASHINGTON (Reuters) -Takeover target Spirit Airlines Inc on Tuesday said it was in talks with JetBlue Airways Corp over a $3.4 billion sweetened offer and expects to decide on the proposal this month. The ultra-low-cost airline granted JetBlue access to the same due diligence information being shared with Frontier…