Consumer Biz Review: Archer Daniels Midland Slashes Jobs, GM Says Volt is Safe
Global companies like Starbucks (NASDAQ:SBUX) will now be able to enter with more force into the Indian market. Moves toward further liberalization could lift the economy because India abandoned a rule that had prevented foreign single-brand retailers from operating stores without a local partner.
General Motors (NYSE:GM) marketing executive Joel Ewanick notes “Volts are safe and won’t burn.” However, he also said the company has a detailed contingency plan in case another fire in a Chevrolet Volt. The carmaker remains committed to making a splash in the Electric Vehicle market.
Investing Insights: SUPERVALU INC. Earnings: Profit Streak Snapped by a Loss.
SuperValu (NYSE:SVU) earnings are for fiscal year earnings per share guidance excluding impairment charges of $1.20-1.30 versus consensus of $1.10-1.30. Revenue guidance of $36.1 billion versus consensus of $36.1-37.1 billion while same-store sales growth is down by 2.5-3%.
Boeing (NYSE:BA) confirms that it hit a production rate of 35 airplanes a month for next-generations 737s and that it is making investments to enable it to increase the run rate to thirty-eight 737s a month by the second quarter of 2013. By the first half of 2014 is speculates a 42 a month rate.
Archer Daniels Midland (NYSE:ADM) plan is to cut 1,000 jobs unloading around $100 million pre-tax expenses.
JetBlue (NASDAQ:JBLU) December traffic rose 14.3% year-over-year, trailing capacity growth of 17.1%. This gap resulted in JetBlue’s load factor falling to 80.2%. This is down 190 basis points from the year-ago period.
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