Ford expected to lower cash burn rate in first quarter following labor and production cutsDETROIT — Ford Motor Co. is scheduled to report earnings for the first quarter on Friday. The following is a summary of key developments and analyst opinion related to the period. Altria Group 1Q profit falls 76 pct on items, adjusted results beat viewRICHMOND, Va. — Altria Group Inc., the nation’s biggest cigarette maker, said Wednesday its profit skidded 76 percent in the first quarter due to the spinoff of its international tobacco business, charges related to its purchase of UST and interest expenses. Ingersoll-Rand posts loss in 1st quarter but beats Wall Street estimates on cost cuttingNEW YORK — Ingersoll-Rand Co. said Wednesday it fell to a loss in the first quarter but the diversified industrial manufacturer topped Wall Street’s expectations, due in part to cost cutting. Elevator, heating equipment results push down first-quarter profit at United TechnologiesHARTFORD, Conn. — United Technologies Corp. said Tuesday its first-quarter profit fell 28 percent, as frail construction markets dragged down orders for its Otis elevators and Carrier heating and ventilation systems. Lenders offer to swap $2.5B of Chrysler’s debt for equity, but won’t give up all they’re owedDETROIT — Banks and hedge funds that hold $6.9 billion in Chrysler LLC debt have proposed forgiving $2.5 billion of it in exchange for about a 40 percent stake a Chrysler-Fiat alliance, according to two people briefed on the proposal. GM executives say car maker plans continued expansion in China, despite US financial woesSHANGHAI — Dealing with the crisis at General Motors Corp. kept new CEO Fritz Henderson from traveling to Shanghai’s auto show, but executives say the company intends to continue growing in China regardless of how its financial mess is resolved. |
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