Word: snapback
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Dates: during 1950-1959
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Ford Motor Co. last week wheeled out a racy earnings report that was a prime example of the fast snapback scored by many a recession-hit corporation. In the last three months of 1958. Ford earned $111.9 million or $2.05 a share, the second-best fourth quarter in its history (best: 1955). This wiped out the nine-month loss, gave to the company a respectable net for the year of $95.7 million or $1.75 a share...
...price index, which climbed to a record 123.7 in June. There were also some good business reasons. The depressed machine-tool industry noted a 7% rise in new orders from May to June. Second-quarter earnings in some key industries showed a better recovery than expected, indicating that a snapback in profits may be closer than previously anticipated. Many investors were also quite obviously influenced by the headlines from the Middle East; they expected the crisis to reverse inventory liquidation, start a buildup, particularly among hard-goods manufacturers, whose stocks are down sharply...
Good Year Ahead. Last week, vacationing at his small, four-room, co-op apartment at Delray Beach, Fla., Smith said he will now relinquish most of his everyday managing duties, concentrate more on long-range planning and policymaking. Cheered by the stock market's quick snapback and high volume of trading last week (see State of Business), the top man in Wall Street's top brokerage house saw a good year ahead for M.L.P.F. & S. Said he: "Company after company is going to need more money to expand, and they will have to come to Wall Street...
Last week's snapback was triggered by predictions that 1957 would see production and sale of 6,500,000 to 7,000,000 autos, and that the Suez trouble would be solved without war in the Middle East. Even more important, Wall Street was getting over its scare that Eisenhower might be licked...
...prospect of a two or three week walkout from 'the mill heat during July held few terrors for most steel workers. The industry was also heading into the midsummer slack; steel production, currently scheduled at 95.7% of capacity, would probably drop to 80% before the expected snapback late in the third quarter...