Author: Sanjana Shivdas
-
General Dynamics lowers revenue outlook as profit rises on marine, aero sales
By Sanjana Shivdas and Mike Stone (Reuters) -Defense contractor General Dynamics Corp posted a 3% rise in third-quarter profit on Wednesday, boosted by higher sales in the unit that makes U.S. Navy ships and its aerospace division, which makes Gulfstream business jets, but trimmed its annual revenue target by $400 million. “This quarter revenues decrease…
-
Industrial giant 3M to hike prices as inflation, logistics woes bite
By Sanjana Shivdas (Reuters) -Industrial giant 3M Co lowered its full-year earnings outlook on Tuesday and said it would increase product prices to combat inflationary and supply chain pressures plaguing U.S. manufacturers. The company, which makes everything from Post-It notes to industrial sandpaper, said it was facing higher costs related to polypropylene, ethylene, resins and…
-
Delta Air warns of pre-tax loss in 4th quarter as fuel prices surge
By Sanjana Shivdas and Rajesh Kumar Singh (Reuters) -Delta Air Lines Inc on Wednesday warned of a pre-tax loss for the fourth quarter due to a sharp rise in fuel prices, after posting its first quarterly profit without federal aid since the coronavirus pandemic. Oil prices have surged to multi-year highs, threatening the pace of…