A.M. Executive Briefing - Feb. 3
This Morning's Headlines:
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DaimlerChrysler Aims To Be Leader in U.S. Medium-Heavy Trucks Market
DaimlerChrysler board member Dieter Zetsche, in charge of the commercial vehicles division, told the German newspaper Handelsblatt that the company wants to move from second to first place in the U.S. medium-heavy trucks sector.DaimlerChrysler is highly interested in the U.S. market "not only in terms of volume but also in terms of earnings," he said. Zetsche said he spoke cautiously about North American and European sales prospects for commercial vehicles because he expects sales development to return to the average trend after last year's high sales.
He said that demand will not necessarily go up in Europe if the economy there improves because growth in the commercial-vehicle market has far outpaced that of the economy in recent years. AFX European Focus (02/03/00)
Oshkosh, Wis.-Based Trucking Firm to Expand Facilities, Add Jobs
Specialty truckmaker Oshkosh Truck announced an 110,000 square-foot expansion to its production facilities by March 2001 and a 400-job increase of its payroll in the next three years. The $8 billion expansion and job creation will support the growth of Oshkosh's commercial product lines as well as production of Medium Tactical Vehicle Replacement trucks for the Marines.The truckmaker will see enhanced production capacity, as well as more efficiency across all product lines, and create a cutting-edge operation for cab fabrication, said Chairman and CEO Robert G. Bohn in a statement. Wisconsin State Journal (Madison) (02/03/00); Gribble, Roger A.
Ryder Has Higher Q4 Operating Net, Sees Flat Q1
Ryder system said its fourth-quarter operating earnings were $37.1 million (59 cents a share), up from $37.1 million (51 cents a share) in the year-earlier quarter, and beating a First Call/Thomson Financial consensus estimate of 52 cents a share.After charges for Y2K and restructuring and other one-time items, net income was $5.9 million (9 cents a share), compared to $39.4 million (55 cents a share), on revenues of $1.32 billion, up from $1.21 billion.
Chairman and CEO Anthony Burns said earnings would be flat for the first quarter but up for all of 2000, with the company in line for full-year earnings per share between $2.15 and $2.20. Operating earnings for all of 1999 were $121.1 million ($1.76 a share), beating the First Call consensus estimate of $1.72 but still below the 1998 figure of $149.3 million ($2.03 a share). Reuters (02/02/00)
Hunt (J.B.) Transport Services Inc., Posts 4Q EPS $0.16 vs. $0.30
J.B. Hunt Transport Services said it saw fourth-quarter net income drop to $5.6 million from $10.9 million in the year-earlier quarter, as earnings per diluted share fell to 16 cents from 30 cents, and revenues rose to $553.4 million from $493.8 million.For the full year, net income dropped to $31.9 million from $46.8 million, earnings per diluted share fell to 89 cents from $1.28, and revenues rose to $2.1 billion from $1.8 billion. Standard & Poor's (02/02/00)
Volvo Extends Acceptance Period on Scania Offer
Volvo has extended its acquisition offer to the shareholders of Scania until March 29. The European Commission's final decision on the proposed acquisition, which the EC is investigating, is expected no later than March 23. Nordic Business Report (02/02/00)Troopers Have Ticket-Writing Party on Elevated Expressway
Louisiana state troopers gave out 60 speeding citations in under three hours Monday on a portion of Interstate 10 between Lafayette and Baton Rouge where, on Aug. 16, 1998, 10 semis and 96 passenger vehicles were involved in crashes within four hours. Troopers in an airplane spotted speeding drivers on the elevated Whiskey Bay bridge section of I-10 and contacted cruisers on the ground by radio. Following the August 1998 crashes, the speed limit there was decreased to 60 mph from 70 mph. Associated Press (02/02/00)© copyright 2000 INFORMATION, INC. Terms of Service
