Ford Will Close English Facility, Hershey’s Brookside Purchase: Consumer Business Report
Ford Motor Company (NYSE:F) will shut its factory in Southampton in 2013, according to a union official in the United Kingdom. Even though gains were coming back in that region, sources say that Ford is thinking of producing new diesel engines in a nearby facility as an alternative option as it makes deeper and faster asset reductions in Europe than those of rivals. Moreover, the company prefers to accede to more costly resolutions upfront with unions to accomplish its moves.
Unilever (NYSE:UL) shares move up on the day, subsequent to posting impressive sales gains across geographic regions, among which include China. The firm says that it’s set to meet margin estimates in the current, but warns that the cost of ingredients might still be problematic.
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Hershey Foods (NYSE:HSY) predicts that its purchase of Brookside and the lower commodity costs than were expected should help contribute to its bottom line this year while it elevates earnings per-share growth guidance to between 14 and 15 percent from a prior range estimate of 12 to14 percent. Most importantly, price hikes didn’t appear to impact the sales volume, which rose by 2.1 percent in the third quarter.
Shares of the cruise operator Royal Caribbean Cruises (NYSE:RCL) jumped after the company raised its full-year profit projection as it has been able to bump up bookings prices as it recovered from the grounding of the Costa Concordia in January, which caused slumping demand. Peer Carnival Corporation (NYSE:CCL) shares moved up on the day in sympathy.
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