General Electric reported weaker earnings and revenue for the first quarter, but the conglomerate’s bottom line still topped estimates amid strong results from its energy businesses.
Johnson Controls agreed to a $1.6 billion deal to buy Air Distribution Technologies, adding to the diversified manufacturer’s ventilation business.
General Electric CEO Jeff Immelt is reportedly considering stepping down before the expiration of his expected 20-year tenure as the conglomerate rethinks CEO term durations.
In a show of confidence about its business prospects, appliance maker Whirlpool announced plans to boost its quarterly dividend by 20% and buy back another $500 million of stock.
Alcoa plans to cut 147,000 tons of capacity at two aluminum smelters in Brazil as increased costs have made the plants uncompetitive.