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Industrials

AP News | Equities.com |

Wall Street hit the brakes Tuesday, a day after its remarkable, weekslong rally brought the S&P 500 back to positive for the year and the Nasdaq to a record high. The benchmark index fell 0.8%, its largest loss in almost three weeks, as traders cashed in on some of the market’s recent gains. Financial, industrial and health care stocks led the slide. Technology companies were among the gainers, helping to push the Nasdaq to another all-time high. Skeptics have been saying for weeks that Wall Street’s huge rally, which reached 44.5% between late March and Monday, may have been overdone. The economy has given glimmers of hope that the recession could end relatively quickly as governments lift their lockdown orders, but the strength and speed of the stock market’s rebound has easily outpaced expectations for a recovery in the broader economy and corporate profits.


Reuters | Equities.com |

ZURICH (Reuters) - Siemens (SIEGn.DE) stock surged on Friday after the German engineering company said it was speeding up cost savings to tackle the coronavirus downturn and the flotation of its energy business remained on track. The trains to industrial software maker cut its 2020 revenue guidance and said it expected the coming weeks to be the worst of the downturn. But it also announced plans to float its 2 billion euro ($2.2 billion) Flender mechanical drives business, as part of a strategy to make the group simpler and focus on factory and building automation. It may still keep a stake in the business.


Reuters | Equities.com |

Industrial conglomerate 3M Co said on Friday it sued five vendors for allegedly attempting to target government officials with fraudulent offers to sell billions of nonexistent N95 respirators. The vendors tried to sell respirators to officials in Florida, Wisconsin and Indiana at highly inflated prices, 3M said, adding that they were not connected with the company. N95 respirators, which are designed to filter 95% of airborne particles, are among personal protective ge...


Reuters | Equities.com |

The coronavirus pandemic has sapped demand for the construction and mining equipment bellweather.


Reuters | Equities.com |

Ford and GE Healthcare will expand the production of GE’s ventilator, while Ford will work with 3M to increase manufacturing capacity of its air-purifying respirator.


David Trainer | Equities.com |

Last week, analysts parsed 303 filings and collected 34,774 data points. In total, they made 6,193 accounting adjustments with a dollar value of $4.3 trillion.


Stephen L Kanaval | Equities.com |

GE stood by its full-year forecast, which calls for adjusted earnings of 50 cents to 60 cents a share and industrial free cash flow of as much as $4 billion.


AP News | Equities.com |

"Sharply lower volume from large orders” in mobility business and a similar issue in gas and power.


Reuters | Equities.com |

The Institute for Supply Management (ISM) said on Monday its index of national factory activity increased to a reading of 50.9 last month, the highest level since July.


AP News | Equities.com |

Net income rose 5% to $1.1 billion, or $1.97 per share, in the quarter ended in December, the manufacturer said Friday.