Genuine Parts Slide on Full-Year Earnings Outlook Cut

Genuine Parts (GPC) fell after the auto-parts distributor revised its earnings and sales guidance following second-quarter results that were below expectations. The outlook revision came a month after Atlanta-based company completed its acquisitions of The Netherlands-based PartsPoint Group and Australia-headquartered Inenco Group. Both companies are parts distributors in their regions, […]

New York Business Activity Picks Up Pace in July

Business activity in New York, which has the third-biggest economy among the US states after California and Texas, posted a stronger-than-expected gain in July’s Empire State Manufacturing Survey that pushed the measure into positive territory. The print from the Federal Reserve Bank of New York rose 13 points to 4.3, […]