Daily business briefing: Ford stock shifts into higher gear

July 24, 2013 

Ford Motor Co. reported better-than-expected earnings for the second quarter. The automaker reported strong U.S. pickup truck demand and growing sales in China that offset losses in Europe. The company's shares rose 3 percent in premarket trading Wednesday. Read more at http://www.bnd.com/business. ...

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Minutes after the opening bell on Wall Street Wednesday, Apple saw its stock value jump 5 percent. The company shipped more iPhones in the latest quarter and said it was planning to introduce new products in the fall. ...

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Boeing saw more profit than it had expected in the second quarter. The company's net income rose 13 percent to $1.09 billion. That is $1.41 per share. During the same period last year, Boeing earned $967 million, or $1.27 per share. Revenue rose 9 percent to $21.82 billion. The aviation manufacturer cites a recent boom in airplane orders for 737s and 787s as airlines in Asia and Latin America expand. Deliveries of all commercial planes rose 13 percent to 169 planes during the quarter. ...

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The world's largest construction and mining equipment manufacturer has cut its profit and revenue outlook for the year. Peoria-based Caterpillar saw second-quarter earnings drop 43 percent as a result of dealers cutting more inventory than anticipated. The company reported earnings of $960 million, or $1.45 per share, compared with $1.7 billion, or $2.54 per share a year ago. Revenue is down 15.8 percent.

-- Will Buss, BND business writer

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