) on Friday reported a smaller-than-expected decline in second-quarter earnings, helped by lower manufacturing costs, even as the pandemic made customers wary of big equipment purchases.
The manufacturer, a bellwether for economic activity, said its financial results would be impacted by continued global economic uncertainty. A recovery in machine retail sales in Asia and slowing sales declines in the Europe, Africa and Middle East region and Latin America have raised hopes that the worst is over for the construction and mining equipment maker.
The world’s largest economy shrank at a 32.9% annualized rate last quarter with a 37.7% plunge in spending on equipment.There is not much to cheer outside the United States, either. The International Monetary Fund now expects deeper contraction in global output this year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NBCU Earnings Drop on Theme Parks Loss Amid Pandemic, TV Advertising Takes HitNBCU's film unit posted a quarterly content licensing revenue gain of 19.5 percent that included 'the performance of certain 2020 releases that were made available on premium video on demand, including 'Trolls World Tour' and 'The King of Staten Island'.'
Source: THR - 🏆 411. / 53 Read more »
Ford reports earnings after the bell, and analysts expect billions in losses from the coronavirus pandemicFord CFO Tim Stone warned investors in April that the company expected to lose more than $5 billion, on an adjusted pretax basis, during the second quarter. Ford is a dinosaur of a company. Way behind the times and most of its products are poor quality, just like GM and Chrysler. Can't be good news if everybody is waiting until after close Fix Or Repair Daily. FORD.
Source: CNBC - 🏆 12. / 72 Read more »
Tech stocks stand tall in Europe after strong FANG, Nokia earningsEuropean stocks rose on Friday, with technology shares leading the way after bumper earnings from Wall Street's big tech names and Nokia eased nerves about global growth amid surging coronavirus cases. Motivation If you want to be strong, Learn to FIGHT alone. Fi The Bitcoin Association has appointed Patrick Prinz as Its European and Operations Manager with the responsibility to drive the growth of BSV's business across Europe and support the organization's operational needs worldwide
Source: Reuters - 🏆 2. / 97 Read more »
U.S. Stock Futures Edge Higher as Tech Stocks RallyShares of Amazon.com, Facebook and Apple gained in offhours trading after the companies’ earnings highlighted the resilience of their operations during the coronavirus pandemic. Well good for them Rich getting richer! Just what we need How in the hell can the market be up, when US economy contracted by 1/3 last quarter and COVID is getting worse. scam
Source: WSJ - 🏆 98. / 63 Read more »