US execs sound a note of caution even as earnings outstrip estimates

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

Corporate executives in the United States note solid demand while simultaneously pointing to the need to hold costs down.

The companies that produce goods at the heart of the US consumer economy – SUVs, washing machines, heavy equipment, and hamburgers – kept rolling along at the end of 2022.

Bellwethers including McDonald’s, Exxon Mobil, appliance maker Whirlpool, and delivery giant United Parcel Service posted results that exceeded estimates. GM is not alone. Exxon also said it would cut spending even after reporting a record $56-billion profit in 2022, and UPS exceeded estimates due in part to reducing expenses.However, the hundreds of thousands of technology job layoffs announced by Microsoft, Intel, and others are not being mirrored in the rest of the economy. That is a good sign for the broader economy, according to Lori Calvasina, equity analyst at RBC Capital Markets.

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:

 /  🏆 4. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Angeles-based beauty company opens corporate headquarters | Dinna Chan VasquezIF there was a list of the top three women I admire in the beauty industry, Rhea Anicoche-Tan would definitely be on it. I have written a number of times about how this woman founded Beautederm Corp. over 10 years ago with a capital of P3,500. Since then, she has…
Source: BusinessMirror - 🏆 19. / 59 Read more »