Manufacturing

Once upon a time, there was an old-line Pittsburgh-based company that became a bottle rocket. The result was U.S. Steel 's (NYSE: X) performance Tuesday on the New York Stock Exchange. The company finished up more than $20 on the day.

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Remember that strike at American Axle (NYSE: AXL) last month where executives apparently performed their jobs so well they deserved to get lavish bonuses as a result? Well, seems they didn't do so well, after all, as the drive-shaft manufacturer for General Motors (NYSE: GM) posted losses that were even worse than expected.

Get the heck out of America! No, this is not some xenophobic rant, but the reluctantly sensible advice that I think investors need to heed. PepsiCo’s (NYSE: PEP) second-quarter results represented the world in microcosm, with belt-tightening U.S. consumers hurting sales in the company’s North American beverage unit, while strength abroad lifted the company’s overall results to respectable levels, mirroring the results the Coca-Cola Company (NYSE: KO) reported last week.

It's easy to get caught up in the numbers, especially during earnings season. Perhaps the most important point made by Precision Drilling Trust (NYSE: PDS) during its conference call, however, had nothing to do with margins or growth rates.

Whatever your shale play, Nabors Industries (NYSE: NBR) probably has you covered.

The signs are all around us. I've lost count of the number of new car sales lots I've seen closing shop in recent months. The noteworthy losses plaguing shares of American icons Ford (NYSE: F) and General Motors (NYSE: GM) remove all doubt. American consumers just aren't buying new cars like they used to, and a trend this big simply must have a Foolish investment hypothesis somewhere on the assembly line.

While its beverages remain bubbly, Coca-Cola (NYSE: KO) shares have fizzled away over the past few months, down some 23% since they hit a 52-week high in January. However, despite the many problems the company is currently facing, I think investors with a long-term outlook will eventually see Coke pop out of this sluggish state.

Microprocessor manufacturer Advanced Micro Devices (NYSE: AMD) reports second-quarter earnings tonight, on the heels of a mildly positive quarter from the competition. AMD's first quarter was a disappointment, and these shares are skimming close to penny-stock prices. What's next?

Once I saw how profitable Korean steelmaker POSCO (NYSE: PKX) was this past quarter, I became excited about upcoming results from other global competitors that enjoy the cost-saving advantage of significant vertical integration. Like many ADRs, whose earnings reports are often delayed, Russia's Mechel (NYSE: MTL) just released numbers from its first quarter, which ended March 31. Nonetheless, these results are solid enough to keep this Fool's interest stoked like a blast furnace.

It's hard to tell whether General Motors (NYSE: GM) has just stalled or is careering toward a wall.

For a Fool who loves investing in things that go "boom," this is tough to admit -- but Reuters' story Monday on how some $1 trillion will eventually be spent to purchase and fly Lockheed Martin (NYSE: LMT) F-35 fighter jets threw me for a loop.

You know that another earnings season is dawning when General Electric (NYSE: GE) reports results. That time is now, with GE's second-quarter release scheduled for Friday morning.