WW Grainger Inc. posted better-than-expected quarterly results and raised its full-year outlook for the second time this year, but its shares fell 3 percent as the industrial distributor forecast a moderation in fourth-quarter organic revenue growth. Get the full story »
Filed under: Manufacturing
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Caterpillar, other companies guarded about outlook
Manufacturers enjoyed big gains on Wall Street in the third quarter, outperforming the S&P 500, as signs of a faltering U.S. recovery sent investors piling into companies like Caterpillar Inc. and Cummins Inc. that generate most of their sales overseas.
But the sustainability of those gains will be tested this month as the big industrials report their quarterly results and update investors on the outlook for the rest of the year. Get the full story »
Boeing delivered 124 commercial planes in 3Q
Boeing Co. said Thursday it delivered 124 commercial planes in the third quarter compared with 113 in the third quarter a year earlier. Get the full story »
Transportation sector decline stalls factory orders
New orders received by U.S. factories fell by 0.5 percent in August, resuming a downtrend as demand for transportation equipment declined sharply, according to a Commerce Department report on Monday.
Total orders fell to a seasonally adjusted $408.9 billion after an upwardly revised 0.5 percent increase in July and a 0.6 percent fall in June. Economists surveyed by Reuters had forecast a decline of 0.4 percent in August. Get the full story »
ISM: Manufacturing growth slows in September
The pace of growth in the manufacturing sector slowed in September, an industry report on Friday showed, and employment in the sector also declined. Get the full story »
U.S. manufacturing likely grew at slower pace
Bloomberg News | Manufacturing probably expanded in September at the slowest pace in 10 months, underscoring the Federal Reserve’s forecast of “modest” U.S. growth, economists said before reports today. Get the full story »
Fines issued for refrigerator-part price fixing
The Justice Department said Thursday that Panasonic and Embraco, a Whirlpool subsidiary, are being fined more than $140 million for price fixing refrigerator parts. Get the full story »
Boeing finalizes $5.3 billion Navy contract
Boeing Co. has finalized a $5.3 billion four-year agreement with the U.S. Navy to build 124 F/A-18 fighter jets and electronic attack planes, a deal that will generate savings of over $600 million. Get the full story »
Alberto Culver deal may draw interest from rivals
Bloomberg News | L’Oreal SA and Henkel AG could be interested in Alberto Culver Co., which Unilever yesterday agreed to buy for $3.7 billion, JPMorgan Chase & Co. analysts said.
Alberto Culver shares rose 20 percent to $37.64 yesterday after the deal was announced, above the $37.50 a share Unilever agreed to pay for the maker of VO5 and TRESemme hair-care products. Unilever said there is a $125 million breakup fee if the deal is terminated. Get the full story »
Fed: Midwest manufacturing slows in August
Manufacturing activity slowed in the Midwestern U.S. during August, as automakers chose to stop building up inventories, the Federal Reserve Bank of Chicago reported Monday. Get the full story »
Unilever to buy Alberto Culver for $3.7B
Gina Boswell, president of global brands, stands in an Alberto Culver lab in 2008. (Chicago Tribune/Alex Garcia)
Consumer goods group Unilever will buy U.S. hair and skin care company Alberto Culver for $3.7 billion in the latest move to rebalance its portfolio toward higher growth lines.
The news sent Alberto Culver stock up 20 percent to $37.73, near its 52-week high of $32.08, in midday trading.
Unilever’s biggest acquisition in a decade will add brands such as V05, TRESemme and Nexxus to Unilever’s existing Dove and Sunsilk, and make it the world’s leading company in hair conditioning and the second largest in shampoo. Get the full story »
Abbott identifies recalled baby formula lots
Abbott Laboratories posted a list of lot numbers on Thursday for the millions of recalled containers of its Similac powdered infant formulas and expanded Internet and call center capacity to handle a deluge of requests for information from concerned parents.
The company announced a voluntary recall on Wednesday of about 5 million units of its top-selling powdered infant formula after beetles were found in the products and in a Michigan plant where they are made.
The Abbott Web site was so busy after the recall that it crashed Wednesday night, hampering efforts by parents to find out if they had been feeding their babies tainted formula. Get the full story »
Evanston’s Spartech fined for safety violations
The U.S. Department of Labor’s Occupational Safety and Health Administration levied $54,500 in fines against an Evanston-based plastic maker, saying it violated 16 “serious safety violations” by exposing employees to unguarded machinery and “electric shock hazards.” Get the full story »
Clorox sells STP, Armor All for $780M
Clorox Co., maker of household cleaning products and other consumer goods, said it struck a deal to sell its auto-care brands to private equity firm Avista Capital Partners for $780 million in cash. Get the full story »
Sep. 20, 2010 at 5:15 p.m.
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Filed under: Agriculture/Farming, Government, M&A, Manufacturing, Updated BHP CEO fails to win premier’s support on Potash
BHP Billiton CEO Marius Kloppers visited the home city of Potash Corp. on Monday but failed to win the support of the provincial premier for its $39 billion offer to take over the world’s largest fertilizer supplier.
Saskatchewan Premier Brad Wall said he still has concerns about BHP’s proposal after meeting with Kloppers, who sought to bolster the chances that Canada would approve the bid by winning the province’s support. Get the full story »
