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☆ Emerson sells majority stake in climate tech unit to Blackstone
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - Emerson Electric Co (EMR.N) is selling a majority stake in its climate technologies unit to Blackstone Inc (BX.N), the U.S. industrial firm said on Monday, in a deal that values the unit at $14 billion. The deal would give Blackstone a 55% stake in the unit. Blackstone and co-investors would contribute $4.4 billion in equity toward the deal, which would be supplemented by $5.5 billion of debt financing, Emerson said. As part of that pivot, Emerson in August also sold its unit that makes waste disposal equipment and hot water dispensers to Whirlpool Corp (WHR.N). The Blackstone deal is expected to close in the first half of 2023.

☆ Polls close in Brazil’s polarizing Bolsonaro-Lula contest
▼ + stars: | 2022-10-30 | by ( ) www.cnbc.com time to read: +9 min

The runoff shaped up as a close contest between President Jair Bolsonaro and his political nemesis, former President Luiz Inácio Lula da Silva. There were multiple reports of what critics said appeared attempts to suppress the turnout of likely da Silva voters. Most opinion polls gave a lead to da Silva, universally known as Lula, though political analysts agreed the race grew increasingly tight in recent weeks. But while da Silva topped the Oct. 2 first-round elections with 48% of the vote, Bolsonaro was a strong second at 43%, showing opinion polls significantly underestimated his popularity. "If da Silva wins, we're going to have a problem," said Pedro Correia, 40, who joined his wife and two children in Copacabana.

The company's shares were down 4.9% at $505 before the bell despite forecasting 4% to 5% revenue growth in 2023. Northrop had forecast 2022 sales in the range of $36.2 billion to $36.6 billion, and a profit per share between $24.50 and $25.10. Northrop, is now seeing improving trends in labor availability after struggling with labor challenges caused by the Omicron variant of COVID-19. Overall revenue rose 3% in the quarter to $8.97 billion, but missed analysts' average expectation of $9.13 billion, as per Refinitiv data. Sales at the Space Systems division, aided by higher demand for space exploration, rose about 18% to $3.16 billion, helping the Falls Church, Virginia-based company offset lower sales at the aeronautics and defense units.

☆ General Dynamics quarterly profit rises by 5%
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Gulfstream jet maker General Dynamics Corp (GD.N) on Wednesday reported an about 5% rise in its third-quarter profit, fueled by strong demand for chartered flights. Demand for private flights, which boomed during the pandemic, remained strong in the quarter as wealthier passengers opted to fly private. The company delivered 35 Gulfstream business jets in the quarter, compared with 31 jets a year earlier. Its book-to-bill ratio was 1.15 times compared with 1.57 times a year ago. Sales in its aerospace unit rose to $2.35 billion from $2.07 billion a year earlier, while overall revenue rose to $9.98 billion from $9.57 billion.

☆ ADM's profit doubles on high global grain demand
▼ + stars: | 2022-10-25 | by ( Mike Stone | Nathan Gomes | ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Grain merchant Archer-Daniels-Midland Co (ADM.N) on Tuesday reported a 96% rise in its third-quarter profit, bolstered by high demand and tight global grain supplies. Global grain merchants like ADM tend to thrive when crises such as drought or war trigger shortages in parts of the world. Tight global grain supplies and strong demand for food and fuel have kept grain prices high since Russia's invasion of Ukraine, which accounted for 10% and 15% of global wheat and corn exports before the war, helping the company's bottom line. "Global demand remains robust... We're well positioned to end 2022 strong, and carry that momentum into 2023," said Chief Executive Officer Juan Luciano. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arshreet Singh in Bengaluru; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ ADM's third-quarter profit nearly doubles
▼ + stars: | 2022-10-25 | by ( Mike Stone | Nathan Gomes | ) www.reuters.com time to read: 1 min

Oct 25 (Reuters) - Global grain merchant Archer-Daniels-Midland Co (ADM.N) on Tuesday reported a 96% rise in third-quarter profit, bolstered by high demand and tight global grain supplies. Net earnings attributable to ADM were $1.03 billion, or $1.83 per share, in the three months ended Sept. 30, compared with $526 million, or $0.93 per share, a year earlier. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arshreet Singh in Bengaluru; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

Oct 25 (Reuters) - Aerospace supplier Raytheon Technologies Corp (RTX.N) on Tuesday posted a near 5% rise in its third-quarter revenue, as strong air travel demand allowed the company to sell more engines, parts and services. Register now for FREE unlimited access to Reuters.com RegisterBut on the upside, demand for aftermarket sales and services has risen at Pratt & Whitney and Raytheon's avionics and parts unit Collins Aerospace, as planes are forced to use existing fleet for longer. In the third quarter, both Collins Aerospace and Pratt & Whitney recorded double-digit sales. "We note, Raytheon (Pratt and Collins) and Safran intend to implement substantial price increases in Q4 – likely above 10% – for commercial aftermarket parts and services. However, supply chain constraints was a drag on the company's missiles and defense unit, where sales fell 6%.

☆ Union Pacific cuts volume growth forecast as worker shortage weighs
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

A Union Pacific rail car is parked at a Burlington Northern Santa Fe (BNSF) train yard in Seattle, Washington, U.S., February 10, 2017. REUTERS/Chris HelgrenOct 20 (Reuters) - Union Pacific Corp (UNP.N) on Thursday cut its annual volume growth forecast despite a rise in third-quarter shipments, as the U.S. railroad operator struggles with worker shortages. "Inflationary pressures and operational inefficiencies continued to challenge us," Union Pacific Chief Executive Officer Lance Fritz said in a statement. The company trimmed its forecast for full-year volume growth to about 3% from 4%-5%, even after a 3% rise in the third quarter led by higher coal and renewables shipments. Excluding a $114 million charge from the tentative labor deal, the company posted a net income of $3.19 per share, ahead of Refinitiv IBES estimates of $3.06 per share.

☆ JetBlue, Spirit Airlines inch closer to forming fifth-largest U.S. carrier
▼ + stars: | 2022-10-19 | by ( Makiko Yamazaki | ) www.reuters.com time to read: 1 min

Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/IllustrationsOct 19 (Reuters) - Shareholders of U.S. carrier Spirit Airlines Inc (<SAVE.N>) voted in favor of JetBlue Airways Corp's (<JBLU.O>) $3.8 billion takeover offer, but face an uphill struggle getting regulators to approve their combination. read moreBelow are the key events of the takeover saga:Register now for FREE unlimited access to Reuters.com RegisterReporting by Nathan Gomes and Kannaki Deka in Bengaluru; Editing by Shounak Dasgupta, Anil D'Silva and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. railroad operators' volume woes to continue next year
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +3 min

Oct 19 (Reuters) - Volume woes at U.S. railroad operators are set to spill into next year as labor shortages continue to hurt the sector that is critical in connecting consumers with businesses and finished goods, according to analysts. The North America railroad industry has also been under scrutiny for working conditions. Railroad operators have tried to increase staffing levels, partly under pressure from U.S. regulator Surface Transportation Board, but have found it tough to recruit amid labor shortages. WALL STREET SENTIMENT** The current average analyst rating on Union Pacific shares is "buy", with 15 analysts rating it "hold", and 16 "buy" or higher. ** The current average analyst rating on Canadian National shares is "hold", with 18 rating it "hold", and six "buy" or higher.

☆ Spirit Airlines shareholders vote in favor of $3.8 bln JetBlue merger
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/IllustrationsOct 19 (Reuters) - Shareholders of U.S. carrier Spirit Airlines Inc (SAVE.N) on Wednesday voted in favor of JetBlue Airways Corp's (JBLU.O) $3.8 billion takeover offer, moving the companies closer to creating the nation's fifth-largest carrier. Spirit and JetBlue expect to conclude the regulatory process and close the deal no later than the first half of 2024. However, New York-based Spirit in July sided with JetBlue's revised offer, a day after terminating its $2.7 billion merger deal with Frontier. read more read moreSpirit's shares were up 0.7% in morning trade on Wednesday.

☆ Defense contractor L3Harris to buy Viasat's unit for nearly $2 bln
▼ + stars: | 2022-10-03 | by ( ) www.reuters.com time to read: +1 min

Oct 3 (Reuters) - Defense contractor L3Harris Technologies (LHX.N) said on Monday it would buy satellite specialist Viasat Inc's (VSAT.O) military communication unit for about $1.96 billion to better align with U.S. defense spending priorities like cybersecurity and sensors. The government systems unit, known as Link 16 Tactical Data Links, includes 450 employees and has an annual sales of about $400 million. It enables secured sharing of voice and data and is integrated on military aircraft, ground vehicles, surface vessels and operating bases. With the deal, L3Harris aims to expand communication and networking capabilities to a larger user base. (https://reut.rs/3EdRet0)Reporting by Nathan Gomes in Bengaluru; editing by Uttaresh.V and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ MLB roundup: Cardinals, Yankees clinch division titles
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +9 min

Yankees right-hander Jameson Taillon (14-5) allowed two runs and seven hits in 7 1/3 innings. Brian Anderson had three hits and scored two runs for the Marlins, and Jacob Stallings hit a two-run single. Casas, who finished 3-for-4, clobbered a two-run homer in the second inning. Hunter Dozier hit a two-run homer for the Royals, who got two hits from Michael A. Taylor. Altuve went 3-for-4 with four runs, and Hensley contributed an RBI single and a two-run homer.

A man runs past banners with photos of presidential candidates, Brazil’s President Jair Bolsonaro, Ciro Gomes and former president Luiz Inacio Lula da Silva, in Rio de Janeiro, Brazil September 1, 2022. With just days to go until the first-round vote on Oct. 2, Lula is ahead in the polls against President Jair Bolsonaro, a far-right populist who has sought to discredit Brazil's electronic voting system. Critics fear Bolsonaro may follow the example of former U.S. President Donald Trump and refuse to accept an electoral defeat. A third source said many European countries are also planning for swift recognition of Brazil's election results. One of the sources said that in the meeting with Koneff, Lula thanked the United States for having expressed faith in Brazil's voting system.

☆ FedEx posts over 5% rise in quarterly revenue
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA FedEx Express delivery vehicle is seen in Long Beach, California, U.S., September 16, 2022. FedEx said it expects cost savings between $2.2 billion and 2.7 billion in fiscal 2023, amid weaking demand due to a weaker-than-expected business environment. The cost savings will come from reducing flight frequencies at FedEx Express, suspending certain operations at FedEx Ground, among other measures, the company said. The company's quarterly net profit fell to $875 million, or $3.33 per share, from $1.11 billion, or $4.09 per share, a year earlier. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nathan Gomes in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

A man runs past banners with photos of presidential candidates, Brazil’s President Jair Bolsonaro, Ciro Gomes and former president Luiz Inacio Lula da Silva, in Rio de Janeiro, Brazil September 1, 2022. Faced with that and the likely return of a left-wing government in next month's election, some investors have moved to the sidelines. Despite this year's chaotic news flow, Petrobras has so far vindicated the bulls in the local market. "Petrobras shares are really cheap," said one Sao Paulo fund manager with about 20 billion reais ($3.9 billion) under management. Like many interviewed for this article, he requested anonymity to talk frankly about the state firm amid a heated election.

☆ Lennar quarterly profit rises on strong demand for homes
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterSignage is seen at The Collection at Morristown, a housing development by Lennar Corporation, in Morristown, New Jersey, U.S., November 13, 2021. REUTERS/Andrew KellySept 21 (Reuters) - Homebuilder Lennar Corp (LEN.N) on Wednesday reported a 4.3% rise in quarterly profit, benefiting from record-high property prices as demand far outpaced supply that was crippled by raw material and labor shortages. Existing home prices for all housing types in July touched $403,800, up 10.8% from a year ago, according to a report from the National Association of Realtors. Miami-Florida based Lennar posted an about 29% rise in quarterly revenue to $8.93 billion. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nathan Gomes and Priyamvada C in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Why an influencer talent agency just acquired a startup that helps creators make media kits
▼ + stars: | 2022-09-20 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

Influencer-marketing and talent agency Viral Nation has acquired creator economy startup MediaKits. MediaKits, which launched in 2021, helps influencers design media kits using real-time social data. Influencer-marketing and talent management agency Viral Nation has acquired creator economy startup MediaKits. Creators often make media kits using software like Canva or Adobe, before sharing them with brands as PDFs. To help make these media kits more up to date and shareable, O'Brien and Adams built a tool that lets creators design media kits with real-time data from platforms like YouTube, Instagram, and TikTok.

☆ Ford expects parts shortage to hit third-quarter sales
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo is seen on the bonnet of a new Ford Aspire car during its launch in New Delhi, India, October 4, 2018. REUTERS/Anushree FadnavisSept 19 (Reuters) - Ford Motor Co (F.N) said on Monday it expects to have 40,000 to 45,000 SUVs and trucks in inventory lacking certain parts at the end of the third quarter, pushing sales of the vehicles to the fourth quarter. The company now expects it third-quarter adjusted EBIT to be in between $1.4 billion and $1.7 billion. However, it maintained its expectation for full-year 2022 adjusted earnings before interest and taxes of between $11.5 billion and $12.5 billion. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nathan Gomes in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ MLB roundup: Aaron Judge belts 2 more HRs in Yankees' win
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +10 min

Gerrit Cole (12-7) earned the win with four hits, four runs, three walks and eight strikeouts in five innings. Eloy Jimenez had three hits, including a two-run home run, and drove in three runs. Willi Castro hit a two-run homer and Javier Baez had a solo shot for the Tigers. Rays 5, Rangers 3Christian Bethancourt and Jose Siri hit back-to-back homers in host Tampa Bay's win over Texas. The duo went deep in the second inning for a 2-1 lead that the Rays never relinquished.

☆ Ukraine's Independence Day darkened by deadly missile strike
▼ + stars: | 2022-08-23 | by ( Tara John | Yulia Kesaieva | ) edition.cnn.com time to read: +8 min

The day was darkened by a missile strike on an eastern Ukrainian train station which killed at least 22 people -- fulfilling warnings by Ukrainian officials. On the eve of Independence Day, crowds of people were seen in Khreshchatyk, inspecting the display. "I don't feel festive about (Independence Day), I rather feel sad," she added. International solidarityUS President Joe Biden marked Ukraine's Independence Day Wednesday by reiterating the US' commitment to Ukraine with a new $2.98 billion investment in security assistance. Daria is also worried about an attack on Independence Day.

☆ GM to launch electrified version of Corvette sports car by next year
▼ + stars: | 2022-04-25 | by ( ) www.reuters.com time to read: 1 min

April 25 (Reuters) - General Motors Co (GM.N) President Mark Reuss said on Monday the automaker would launch an electrified version of its two-door Corvette sports car as soon as next year. The company will launch an electrified version of the Corvette, which will be followed by an all-electric version using GM's Ultium battery technology, Reuss said on LinkedIn. His comments about launching an electric Corvette were aired earlier on an interview with CNBC. GM's Corvette that has traditionally been fitted with petrol engines, races to keep up with other competitors in the space, such as Ferrari NV (RACE.MI), which offer gasoline-electric hybrid and turbocharged engines. Reporting by Nathan Gomes in Bengaluru; Editing by Amy Caren DanielOur Standards: The Thomson Reuters Trust Principles.

☆ Union Pacific says track congestion hurting ability to meet demand
▼ + stars: | 2022-04-21 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterA Union Pacific rail car is parked at the Canadian Pacific Railway (CP Rail) Toronto Yard in Scarborough, Ontario, Canada March 20, 2022. REUTERS/Chris HelgrenApril 21 (Reuters) - Union Pacific Corp (UNP.N) said on Thursday congestion on tracks was hurting its ability to meet shipping demand even as price hikes helped the U.S. railroad operator top market expectations for quarterly results. Freight shipment demand, however, has allowed companies including Union Pacific to raise prices and mitigate the impact of congestion, labor shortage and rising costs. Total operating revenue in the quarter rose to $5.86 billion, topping analysts' expectations of $5.72 billion, according to Refinitiv data. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nathan Gomes in Bengaluru; Additional reporting by Abhijith Ganapavaram Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Penske Automotive unit orders 750 Ford electric cargo vans
▼ + stars: | 2022-04-18 | by ( ) www.reuters.com time to read: +1 min

April 18 (Reuters) - Penske Truck Leasing has ordered 750 of Ford Motor Co's (F.N) electric E-Transit cargo vans, the unit of Penske Automotive Group Inc (PAG.N) said on Monday. The move comes as several companies including FedEx Corp (FDX.N), UPS (UPS.N) and Deutsche Post (DPWGn.DE) unit DHL are experimenting with electric cargo vehicles as part of their own zero-emission vehicle plans. Penske also said that their long-term plans include adding more of the automaker's E-Transit vans to its wider network of rental, leasing locations across North America. Ford's E-Transit van comes in eight configurations, including three roof heights and three lengths, has an EV driving range of 126 miles. Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ 'Million Dollar Listing' star Fredrik Eklund, who has 1.4 million Instagram followers, says 'social media isn't so effective anymore' for new real-estate agents
▼ + stars: | 2022-01-02 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

Younger agents should spend their time on old-school methods like mailers, he advised. He's not abandoning social media, though. The only paths to success right now for agents on social media fall between the two extremes, he said. Eklund, however, has no plans to abandon social media. The superagent believes that a new generation of apps won't solely be social media, but instead will be real-estate apps with a "social aspect" to them.

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