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IBM Second-Quarter Earnings Advance on 9% Sales Growth

International Business Machines reported 9% sales growth in second-quarter results that also reflected some of the wider concerns tech investors confront as the sector kicks off its earnings season. Sales and earnings per share surpassed Wall Street’s expectations, according to analysts surveyed by FactSet. The company is also dealing with inflationary labor pressures. Read More...

Reuters

Exclusive-Pentagon nears F-35 jet deal worth about $30 billion -sources

WASHINGTON (Reuters) -The U.S. Department of Defense is nearing an agreement with Lockheed Martin Corp for around 375 F-35 fighter jets over three years, three sources said on Monday, amid expectations of a price increase for the most common version of the jet due to lower quantities and inflation. Since then, production quantities and know-how have increased, helping the price of the stealthy fifth-generation fighter fall to $79 million as it gained buyers. The handshake agreement would come as the aviation industry gathered for the return of the Farnborough Airshow, aiming for a display of confidence after the devastation of COVID-19, even though the only records likely to be broken at the event in southeastern England are for sweltering temperatures.

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