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Wall Street Journal - Aug 2

PRESS DIGEST - Wall Street Journal - Aug 2 Aug 2 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. - Intel INTC.O plans to lay off about 15,000 of employees this year and pause dividend payments as part of a broad cost-saving drive more than three years into Chief Executive Pat Gelsinger's turnaround effort.
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3M appoints Otis executive Maheshwari as its new CFO

UPDATE 2-3M appoints Otis executive Maheshwari as its new CFO Adds details throughout Aug 1 (Reuters) - Industrial giant 3M Co MMM.N on Thursday appointed elevator maker Otis Worldwide OTIS.N executive Anurag Maheshwari as its chief financial officer, succeeding Monish Patolawala, who was in the role for four years. Maheshwari would assume the role on Sept.
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U.S. STOCKS Tesla, Lamb Weston, Blackstone Mortgage Trust

BUZZ-U.S. STOCKS ON THE MOVE-Tesla, Lamb Weston, Blackstone Mortgage Trust Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: https://refini.tv/3LI4BU7 The Morning News Call newsletter: https://refini.tv/3dKUyB8 The Nasdaq plummeted to a one-month low on Wednesday after Tesla and Alphabet disappointed with lackluster earnings, prompting investors to question if the Big Tech and AI-fueled 2024 equity rally was sustainable in the long run.
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U.S. STOCKS FTAI Aviation, Check Point, Sage Therapeutics

BUZZ-U.S. STOCKS ON THE MOVE-FTAI Aviation, Check Point, Sage Therapeutics Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: https://refini.tv/3LI4BU7 The Morning News Call newsletter: https://refini.tv/3dKUyB8 Wall Street fell on Wednesday, with the tech-heavy Nasdaq leading declines after lackluster quarterly results from Tesla and Alphabet raised questions about the sustainability of the Big Tech and AI-led 2024 equity rally.
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Otis Worldwide Corp reports results for the quarter ended in June - Earnings Summary

Otis Worldwide Corp reports results for the quarter ended in June - Earnings Summary Otis Worldwide Corp OTIS.N reported quarterly adjusted earnings of $1.06​​ per share for the quarter ended in June, higher than the same quarter last year, when the company reported EPS of 92 cents. The mean expectation of nine analysts for the quarter was for earnings of $1.03 per share.
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Otis falls on lowering annual sales forecast

BUZZ-Otis falls on lowering annual sales forecast ** Shares of elevator maker Otis Worldwide OTIS.N fall 4.3% to $94.13 premarket ** Co cuts 2024 net sales forecast on softening demand for its new equipment from North America and China ** Now sees full-year net sales between $14.3 bln-$14.5 bln, compared to $14.5 bln-$14.8 bln previously ** Q2 net
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Otis cuts annual sales view on slowdown in construction activity in China, US

Otis cuts annual sales view on slowdown in construction activity in China, US July 24 (Reuters) - Elevator maker Otis Worldwide OTIS.N lowered its 2024 net sales forecast on Wednesday on softening demand for its new equipment from North America and China. The company expects its full-year net sales to be between $14.3 billion and $14.5 billion, down from its previous forecast of $14.5 billion to $14.8 billion.
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Otis Worldwide Q2 Adjusted EPS USD 1.06 Vs. IBES Estimate USD 1.03

BRIEF-Otis Worldwide Q2 Adjusted EPS USD 1.06 Vs. IBES Estimate USD 1.03 Jul 24 (Reuters) - Otis Worldwide Q2 sales USD 3,600 million vs. IBES estimate USD 3,727 million. Q2 EPS USD 1.02 Q2 adjusted operating margin 17% Q2 adjusted operating profit USD 613 million vs. IBES estimate USD 611.8 million Q2 operating margin 15.8% Q2 operating profit USD
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Otis Worldwide Corp <OTIS.N> expected to post earnings of $1.03 a share - Earnings Preview

Otis Worldwide Corp expected to post earnings of $1.03 a share - Earnings Preview Otis Worldwide Corp OTIS.N , OTIS.K is expected to show a rise in quarterly revenue when it reports results on July 24 for the period ending June 30 2024 The Farmington Connecticut-based company is expected to report a 0.2% increase in revenue to $3.727 billion from $3.72 billion a year ago, according to the mean estimate from 9 analysts, based on LSEG data.
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Otis says CFO resigns

Otis says CFO resigns July 19 (Reuters) - Elevator maker Otis Worldwide OTIS.N said on Friday Chief Financial Officer Anurag Maheshwari had resigned after nearly two years in the role. Maheshwari is leaving to pursue external opportunities and his resignation is not linked to any dispute or disagreement, it said. The company's EMEA finance executive Cristina Mendez was named its new CFO.
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Otis Worldwide Appointed Cristina Méndez As Executive VP And CFO Effective August 23

BRIEF-Otis Worldwide Appointed Cristina Méndez As Executive VP And CFO Effective August 23 July 19 (Reuters) - Otis Worldwide Corp OTIS.N : OTIS WORLDWIDE CORP - APPOINTED CRISTINA MÉNDEZ AS EXECUTIVE VP AND CFO EFFECTIVE AUGUST 23 OTIS WORLDWIDE CORP - ANURAG MAHESHWARI, EXECUTIVE VP, CFO PROVIDED CO WITH NOTICE THAT HE WILL BE RESIGNING HIS POS
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Breakup alarm rings at $50 bln building superstore

RPT-BREAKINGVIEWS-Breakup alarm rings at $50 bln building superstore The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Jeffrey Goldfarb NEW YORK, May 29 (Reuters Breakingviews) - The cold wind blowing through Johnson Controls International JCI.N is not from its heavy-duty air conditioners, but instead from pushy investors who could call time on boss George Oliver’s tenure leading the $50 billion industrial conglomerate.
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Breakup alarm rings at $50 bln building superstore

BREAKINGVIEWS-Breakup alarm rings at $50 bln building superstore The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Jeffrey Goldfarb NEW YORK, May 29 (Reuters Breakingviews) - The cold wind blowing through Johnson Controls International JCI.N is not from its heavy-duty air conditioners, but instead from pushy investors who could call time on boss George Oliver’s tenure leading the $50 billion industrial conglomerate.
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Some of the biggest splits in Corporate America

FACTBOX-Some of the biggest splits in Corporate America Adds DuPont, Masimo Corp, Lionsgate, Citigroup, Edwards Lifesciences, Western Digital and AT&T ; Updates Labcorp, 3M, Kellogg, J&J and General Electric Co May 23 (Reuters) - Chemical maker DuPont DD.N has become the latest multinational to break up its business, announcing a plan to split the firm into three publicly traded companies.
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