Industrials Down as Earnings and Economic Data Look Mixed -- Industrials Roundup
22 April 2016 - 7:26AM
Dow Jones News
Shares of manufacturing and transportation companies declined
after mixed economic and earnings data. The Federal Reserve Bank of
Philadelphia said its index of general business activity covering
the regional factory sector slipped to -1.6 from 12.4 in March, a
hint that the recent recovery in the industrial sector still faces
challenges. Union Pacific rose after the freight railroad's
quarterly earnings decline wasn't as much as feared. Johnson
Controls said it would proceed with its planned $14 billion merger
with Tyco International despite tougher rules on inversion deals,
and the maker of auto parts and other industrial goods boosted its
outlook for its current fiscal year. Paint maker Sherwin-Williams
raised its profit projection for the year as demand grew in the
latest quarter. (rob.curran@dowjones.com)
(END) Dow Jones Newswires
April 21, 2016 17:11 ET (21:11 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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