Whirlpool Stock Leaps on Improved Profit Picture, Home Sales Data
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Appliance maker Whirlpool saw its stock jump 15% in afternoon trading after the company projected continued improvement in its profits. Whirlpool, which manufactures appliances from washing machines to countertop mixers, has prioritized boosting its profits through cost cuts and higher prices. In an earnings call with analysts, Chief Executive Marc Bitzer said Whirlpool’s margins in North America, its largest market, started the year at 5.6% but are expected to hit 8% to 9% in the final quarter.