Panasonic Reports Big Yearly Loss but Forecasts Profit
Panasonic forecast its operating profit will rise 55 percent in the year ending March 31 as it steps back from struggling operations in TVs and other consumer gadgets.
Panasonic forecast its operating profit will rise 55 percent in the year ending March 31 as it steps back from struggling operations in TVs and other consumer gadgets.
Orders to U.S. factories fell in March by the largest amount in seven months but a key category that signals business investment plans managed a small increase.
Orders for long-lasting U.S. factory goods fell in March by the most in seven months, reflecting little growth in orders that signal future business investment.
A surge in commercial aircraft demand pushed orders for U.S. long-lasting manufactured goods up sharply in February, the Commerce Department reports.
Orders for U.S. factory goods that signal business investment plans jumped last month by the most in more than a year, suggesting companies are confident about their business prospects.
U.S. factory orders likely rose 2 percent in December, and a preliminary report on durable manufactured goods suggests that business investment plans increased for the third straight month.
U.S. stock index futures pointed to a modestly higher open on Monday following strong data and results from Caterpillar, though gains were slight after a rally that took the S&P 500 above 1,500 for the first time in more than five years.
Demand for U.S. factory goods fell by 1.5% in March -- the biggest drop in three years -- driven by a sharp decline in orders for commercial aircraft. But airplane orders are a volatile statistic, and more recent data suggest the dip may be temporary. The Commerce Department said Wednesday that orders for factory goods fell 1.5%, the steepest decline since March 2009, when the economy was mired in recession. Orders rose 1.1% in February.
Orders for long-lasting factory goods fell by the largest amount in three years last month, mostly because demand for commercial aircraft plunged. But companies also ordered less machinery and other equipment, a sign manufacturing output may slow.
Oracle, Discover and Tiffany are all expected to report year-over-year growth for their most recent quarters this week. Meanwhile, many will be looking for an updated snapshot of the housing market, with three sets of real-estate data coming out.
With corporate earnings season in full swing -- watch for McDonalds, along with Catepillar, Amazon and other -- and with the Fed meeting on interest rates, the GDP estimate and housing numbers coming out -- the week ahead is expected to be quite busy.
Growth in industrial production eased in October, as durable goods orders unexpectedly fell 3.3%. It was the largest decline in orders since January 2009.
Among quarterly results scheduled for this holiday-shortened week, investors may be thankful for earnings results from Tyson Foods, the Arkansas-based poultry and meat producer. Analog Devices and Deere also are reporting.
Investors got more evidence today that the manufacturing sector expansion continued into late summer/early fall. The key ex-transportation component also came in higher, at 0.4%. And the ex-defense number rose 1.9%. A solid month overall.
Investors received another sign Wednesday that the U.S. economic expansion has slowed, as durable goods orders excluding transportation orders fell 0.8% in September, according to the U.S. Commerce Department.













