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Lockheed 2Q profit up 13 percent
Lockheed Martin Corp. posted a 13 percent increase in second-quarter earnings Tuesday, beating Wall Street expectations and prompting the company to raise its yearly outlook as it made up a drop in fighter jet sales with strength in its other business units.
Caterpillar's 2Q profit jumps 34 percent
Caterpillar Inc.'s second-quarter profit jumped 34 percent as stronger sales in developing countries outpaced slowing growth in North America, and higher production costs.  Investors question financial sector reboundSurprisingly large second-quarter losses at Wachovia Corp. and Washington Mutual Inc. have quickly revived concerns that the financial sector still has a long way to go before it recovers from the year-old credit crisis.
Rockwell Automation 3Q profit drops 7 percent
Industrial parts maker Rockwell Automation Inc. said Tuesday its fiscal third-quarter earnings dropped 7 percent as expenses grew and economic conditions weakened in Europe and the United States.  UPS reports 2Q profit decline, lowers outlookCustomers are using UPS shipping services within the U.S. less amid a slumping U.S. economy and soaring fuel prices. The company's international business was affected as imports into the country declined in the second quarter.
AP source: Ford to retool truck lines to make cars
Ford Motor Co. plans to revamp some U.S. plants and bring six small vehicles to the U.S. market from overseas to meet customers' growing demand for more fuel-efficient options, a person briefed on the company's plans said Tuesday.
Bush says Wall Street has hangover, must sober up
President Bush, in an unguarded moment, said Wall Street "got drunk and now it's got a hangover."
Airlines think cutbacks could bring back profits
New travel fees mean hundreds of millions of dollars a year for beleaguered airlines, and executives say they need them more than ever as fuel costs continue to suck profits out of the industry. Plane tickets, it seems, now come with only the bare bones promise of getting from Point A to Point B.
Booming oil means record 2Q sales for Halliburton
Halliburton's second-quarter profit fell about 67 percent from a year ago, when it recorded a nearly $1 billion gain from its split with former subsidiary KBR, but the oilfield services provider posted record revenue and said prospects look good for the remainder of 2008.
GE, Abu Dhabi investment co. form ventures
General Electric Co. has agreed to a joint venture with an Abu Dhabi government investment company that will pump $4 billion of outside capital into its weakened commercial finance business, part of new global partnership to expand on GE's fast-growing sales in the Middle East.
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