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STOCKHOLM, Feb 6- World No.2 truck maker Volvo will increase its job cuts to 4,400, more than double its original plan, after currency effects and the cost of launching new models muted a rise in quarterly earnings.
STOCKHOLM, Feb 6- World No.2 truck maker Volvo has more than doubled the number of jobs it is cutting in a drive to improve profitability to 4,400, after currency headwinds and costs for launching new models curbed a rise in quarterly earnings.
Jan 31- Paccar Inc reported a higher profit on Friday as the maker of commercial trucks and engines benefited from a big jump in demand in Europe, where customers rushed to purchase new vehicles ahead of the implementation of strict new emission rules.
Jan 31- Paccar Inc reported a higher quarterly profit on Friday as the maker of commercial trucks and engines benefited from recovering demand in Europe. But analysts had hoped Paccar would raise its outlook for industry sales and disappointment over its failure to do so sent its shares lower in early trading on the Nasdaq.
We saw mixed reports from large multinational industrial companies. Key sectors to watch include companies that make heating and air conditioning systems, electric motors, and truck parts.
Oct 29- Paccar Inc reported a 32 percent rise in quarterly profit as the company sold more trucks in North America. Net income rose to $309.4 million, or 87 cents per share, in the third quarter ended Sept. 30 from $233.6 million, or 66 cents per share, a year earlier. Paccar makes commercial trucks under the Peterbilt, Kenworth and DAF brands.
Tesla Motors continues to ride a wave of good news as it will join the Nasdaq 100, which is a listing of the 100 largest nonfinancial companies on the exchange, on July 15.
Take a look at some of Monday's midday movers:
Oct 25- U.S. heavy truck maker Paccar Inc reported lower quarterly profit and sales, reflecting lower industry truck orders in Europe and North America due to an uneven economy, but beat Wall Street estimates.
BELLEVUE, Wash.-- Heavy-duty truck maker Paccar posted a 17 percent drop in third-quarter profit early Thursday. But sales to countries in South America helped offset some of the damage, and Paccar's results topped Wall Street's expectations.
Oct 24- Embattled U.S. truck and engine maker Navistar International Corporation said it would sell 10 million common shares to the public to raise about $190 million to fund capital expenditure and other initiatives.
NEW YORK-- Accuride's stock plunged to an all-time low on Wednesday as the company said it would not do as well as it had thought this year. THE SPARK: Accuride, which makes parts for commercial vehicles, previously predicted a full-year loss of 5 cents to 12 cents per share.
Oct 8- Navistar International Corp agreed to appoint three new members to its board, avoiding a proxy fight with activist investors Carl Icahn and Mark Rachesky, who have demanded changes at the U.S. truck and engine maker. Navistar shares gained 5 percent to $22.28 in early trading on Monday following the news.