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ITT Provides Long-term Financial Targets
(RTTNews) - Ahead of its investor conference later on Thursday, ITT Inc. (ITT) announced long-term financial targets, which comprise 5 to 7 percent revenue growth, 20 percent adjusted segment operating margin, over 10 percent adjusted earnings per share growth, and a free cash flow margin range of 11 percent to 13 percent, all based on actual results for the year-ending December 31, 2021.
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ITT Ink 10-Year Strategic Agreement With Continental To Supply Aftermarket Brake Pads
ITT Inc. (ITT) announced Monday that the company has signed a 10-year strategic agreement for the supply of aftermarket brake pads to German automotive supplier Continental AG (CTTAY.PK). The agreement is expected to generate more than $1 billion in revenue over the term.
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ITT Guides FY23 Adj. EPS Just Below Estimates; Hikes Dividend 10% - Update
While reporting financial results for the fourth quarter on Thursday, ITT Inc. (ITT) initiated its adjusted earnings and revenue growth guidance for the full-year 2023. It also increased quarterly dividend by 10 percent.
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TSX Ends 1.6% Down As Trade War Fears Rise
The Canadian market ended sharply lower on Friday, weighed down by lukewarm GDP data and concerns about inflation and impending U.S. tariffs.
Trade tensions are escalating with U.S. President Donald Trump's announcement of a 25% tariff on autos, and the Canadian Prime Minister Carney warning of retaliatory measures.
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U.S. Dollar Drops After PCE Inflation Data
The U.S. dollar weakened against its major counterparts in the New York session on Friday, following the release of PCE inflation data for February.
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Swiss Market Ends Modestly Lower After Choppy Session
The Switzerland market closed modestly lower on Friday after a choppy session, as investors largely chose to stay on the sidelines or refrained from significant moves amid rising fears of a global trade war.
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European Stocks Close Lower On Growth Worries Following Trump's Tariff Moves
European stocks closed lower on Friday, continued to be weighed down by concerns about global economic growth following U.S. President Donald Trump's tariff announcement, and none too encouraging U.S. economic data, including a reading on core PCE price index.
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Canadian Market Down Sharply On Widespread Selling
Canadian shares are down sharply in negative territory in early afternoon trades on Friday, extending earlier losses, amid concerns about growth and uncertainty about U.S. tariffs. Disappointing GDP data appears to be weighing as well.
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German Unemployment Rate Rises In March
German unemployment increased more than expected in March as economic downturn continued to weigh on labor market activity, official data showed Friday. The number of people out of work increased 26,000 to 2.92 million, the Federal Employment Agency reported. Unemployment was expected to climb 10,000 after rising 9,000 in February.
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