Financial Times FT.com

Dollar comes to rescue of Corporate America

By Francesco Guerrera and Christopher Bowe in New York

Published: April 20 2007 23:19 | Last updated: April 20 2007 23:19

The weak dollar and strong overseas markets came to corporate America’s rescue on Friday with blue-chip companies such as industrial giants Honeywell and Caterpillar and the drugmaker Pfizer reaping the benefits of international exposure.

Several companies, including the fast food chain McDonald’s and the recruitment agency Manpower, beat Wall Street analysts expectations as the strength of foreign markets more than offset the weakness of the US economy.

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