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Search resuls for: "Pratyush Thakur"


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☆ New vehicle prices fall below sticker price after nearly two years - Kelley Blue Book
  + stars: | 2023-04-12 | by ( ) www.reuters.com   time to read: +1 min
April 12 (Reuters) - New vehicles' average transaction price fell below the manufacturer's suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book. Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars. The average transaction price of a new vehicle in the U.S. declined 1.1% in March to $48,008 from February's $48,558. However, March prices rose 3.8% compared to a year earlier. Top global automakers, except Toyota Motor Corp (7203.T), reported a rise in first-quarter U.S. sales on improving shipments to dealers as vehicle inventories improve.
☆ New vehicle prices fall below sticker price after nearly two years, Kelley Blue Book data shows
  + stars: | 2023-04-12 | by ( ) www.reuters.com   time to read: +1 min
April 12 (Reuters) - New vehicles' average transaction price fell below the manufacturer's suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book. Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars. The average transaction price of a new vehicle in the U.S. declined 1.1% in March to $48,008 from February's $48,558. Top global automakers, except Toyota Motor Corp (7203.T), reported a rise in first-quarter U.S. sales on improving shipments to dealers as vehicle inventories improve. Reporting by Pratyush Thakur in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
☆ Air Canada CFO Kazzaz to retire, ex-Bombardier exec Di Bert to take over
  + stars: | 2023-04-11 | by ( ) www.reuters.com   time to read: +1 min
April 11 (Reuters) - Air Canada (AC.TO) said on Tuesday that Chief Financial Officer Amos Kazzaz would retire at the end of June and be replaced by former Bombardier Inc (BBDb.TO) executive John Di Bert. Di Bert, who has served as CFO for both Bombardier and Pratt & Whitney Canada, will assume the role at Air Canada on July 1. The change comes at a time when Air Canada, like other North American carriers, faces cost pressures due to a labor shortage amid a rebound in travel. Toronto-listed shares of Air Canada were up about 2% on Tuesday. Reporting by Pratyush Thakur in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
☆ Extra Space to buy Life Storage for $12.7 bln in self-storage mega deal
  + stars: | 2023-04-03 | by ( Pratyush Thakur | ) www.reuters.com   time to read: +2 min
April 3 (Reuters) - Real estate investment trust Extra Space Storage (EXR.N) said on Monday it will acquire Life Storage (LSI.N) for $12.7 billion in a deal that will result in the combined company becoming the largest U.S. self-storage space operator by store count. Life Storage, which operates more than 1,150 storage facilities in 37 states and the District of Columbia, in February turned down a $11 billion all-stock takeover bid from Public Storage (PSA.N). Life Storage shares were up 3.5%, while Extra Space shares were down 5.1%. On deal close, Extra Space and Life Storage shareholders are expected to own about 65% and 35% of the combined company. The board of Extra Space will be expanded from 10 directors to 12 and consist of three directors from Life Storage.
☆ Rental car firm Hertz's finance chief Cheung to quit
  + stars: | 2023-03-27 | by ( ) www.reuters.com   time to read: +1 min
March 27 (Reuters) - Rental car firm Hertz Global Holdings Inc (HTZ.O) said on Monday its Chief Financial Officer Kenny Cheung was leaving the company to pursue other opportunities. The company said Chief Accounting Officer Alexandra Brooks will serve as interim finance chief, effective April 1. Shares of the company, which operates the Hertz, Dollar and Thrifty vehicle rental brands, were up 1.3% before the bell. Cheung's departure comes at a time when Hertz's profitability has come under pressure in recent months due to higher car maintenance costs. Cheung will remain in the company until April 14, the company said, as it kicked starts a formal search process for a new CFO.
☆ U.S. business equipment borrowings grow 6% in January - ELFA
  + stars: | 2023-02-24 | by ( ) www.reuters.com   time to read: +1 min
Feb 24 (Reuters) - U.S. companies borrowed 6% more in January to finance equipment investments from a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Friday. New business volume, however, was down 32% month-on-month after the typical end-of-quarter, end-of-year spike in new business activity. ELFA, which reports economic activity for the $1 trillion equipment finance sector, said credit approvals were 75.1%, down from 76.6% in December. Washington-based ELFA's leasing and finance index measures the volume of commercial equipment financed in the United States. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in February stood at 51.8, an increase from 48.5 in January.
☆ Airlines cancel over 1,300 U.S. flights as winter storm grips states
  + stars: | 2023-02-22 | by ( ) www.reuters.com   time to read: +1 min
Feb 22 (Reuters) - Airlines canceled more than 1,300 flights in the United States on Wednesday as a strong winter storm makes its way through the western and central states. A total of 1,327 flights within, into and out of the United States were canceled by 12:30 p.m. ET, according to flight-tracking website FlightAware, which also showed 2,030 flights were delayed. Regional carrier SkyWest Inc (SKYW.O) led the cancellations with 312 flights, followed by low-cost carrier Southwest Airlines Co's (LUV.N) 248 and Delta Air Lines' (DAL.N) 246 flight cancellations. Southwest and Delta said they are monitoring the storm, while SkyWest did not immediately respond to a request for a comment.
☆ Spirit Aero experiencing disruptions in supplying parts for 787, A350 programs
  + stars: | 2023-02-07 | by ( Abhijith Ganapavaram | ) www.reuters.com   time to read: +3 min
Feb 7 (Reuters) - Spirit AeroSystems Holdings Inc (SPR.N) said on Tuesday it was experiencing disruptions in supplying parts for the industry's top-selling wide-body jets, the Boeing 787 and Airbus A350, due in part to labor shortages. Spirit said it found the new process for the 787 required more labor per unit. On Airbus' A350 program, Spirit said disruptions continue to drive cost pressures. Spirit has targeted producing shipsets between 40 and 45 this year for the 787 program and about 60 units for the A350. Spirit reported a quarterly cash burn of $66 million, compared with analysts' estimates of $42.64 million, according to Refinitiv data.
☆ Homebuilder PulteGroup's quarterly profit beats estimates on higher house prices
  + stars: | 2023-01-31 | by ( ) www.reuters.com   time to read: +1 min
Jan 31 (Reuters) - U.S. homebuilder PulteGroup Inc (PHM.N) on Tuesday beat Wall Street estimates for quarterly profit on the back of higher house prices in a tightening market. Higher prices have helped U.S. homebuilders offset the impact from rising prices of commodities, labor shortages and ongoing supply chain disruptions over the past year. Pulte's sales rose nearly 19% to $5.17 billion for its fourth quarter ended December 31, 2022. The homebuilder's quarterly net income rose to $882 million, or $3.85 per share from $663 million, or $2.61 per share, a year earlier. Analysts, on average, had expected PulteGroup's quarterly net income to be $2.93 per share on a revenue of $4.59 billion, according to Refinitiv.
☆ Rockwell raises FY profit outlook on industrial automation strength
  + stars: | 2023-01-26 | by ( ) www.reuters.com   time to read: +1 min
Jan 26 (Reuters) - Rockwell Automation Inc (ROK.N) on Thursday raised its 2023 profit outlook on high demand for industrial automation machines amid a tight labor market. Demand in red-hot automation stayed resilient, as companies invested more to offset labor shortages. Sales in the reported quarter at Rockwell's intelligent devices segment, which deals with industrial components rose about 4% to $936.2 million. Overall quarterly sales for Rockwell rose to $1.98 billion from $1.86 billion a year earlier. Reporting by Pratyush Thakur in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ Defense firms set to post higher sales, McCarthy's election clouds outlook
  + stars: | 2023-01-23 | by ( Nathan Gomes | ) www.reuters.com   time to read: +3 min
** Raytheon is expected to post quarterly revenue of $18.15 billion and a profit of 92 cents a share. ** General Dynamics is estimated to report quarterly revenue of $10.69 billion and a profit of $3.55 per share. ** Northrop is expected to report quarterly revenue of $9.66 billion and a profit of $6.58 per share. Median 12-month price target is $495. Median 12-month price target is $566.
☆ Canada's Ritchie Bros to buy salvage vehicle platform IAA in $7.3 bln deal
  + stars: | 2022-11-07 | by ( Kannaki Deka | ) www.reuters.com   time to read: +2 min
Nov 7 (Reuters) - Canadian equipment marketplace Ritchie Bros Auctioneers Inc (RBA.TO) said on Monday it would buy U.S.-based IAA Inc (IAA.N) in a deal valued at about $7.3 billion to diversify into the salvage vehicle market. Both the companies have benefited from rising demand for used equipment. The global used equipment market is highly fragmented with total annual used equipment volumes estimated at over $300 billion. IAA stockholders will get $10 in cash and 0.5804 shares of Ritchie common stock for each IAA share held, the companies said. The purchase price of $46.88 per IAA share represents a premium of about 19% to IAA's stock close on Nov. 4.
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