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  • NEW YORK— The U.S. stock market is opening sharply lower following disappointing corporate earnings and weak economic news. Caterpillar's stock fell 7 percent after the heavy equipment maker was hurt in the fourth quarter by restructuring costs and issued a weak outlook. Technology giants Apple and Yahoo will disclose their results after the close.

  • NEW YORK— Shares of Peabody Energy Corp. traded lower Tuesday after the coal miner took a large loss in the fourth quarter and slashed its dividend payments to preserve cash. The U.S. government issued a weak durable goods report, suggesting businesses cut spending on some manufactured goods because of concerns about soft economies in Europe and Asia, sinking...

  • CHICAGO, Jan 27- Caterpillar Inc on Tuesday reported lower quarterly net profit that missed expectations as lower prices for copper, coal and iron ore hurt mining equipment orders, and warned the recent fall in oil prices would make for a difficult year in 2015.. Chief Executive Officer Doug Oberhelman said without a doubt Caterpillar faces a "tough year in 2015.".

  • CHICAGO, Jan 27- Construction and mining equipment maker Caterpillar Inc on Tuesday reported a lower net profit that came in below market expectations, as lower prices for copper, coal and iron ore hurt its mining business and warned the drop in oil prices would hurt its business in 2015.. The Peoria, Illinois- based company reported a fourth-quarter net profit of...

  • Caterpillar 4Q results mixed, 2015 outlook disappoints Tuesday, 27 Jan 2015 | 7:42 AM ET

    PEORIA, Ill.— Caterpillar took a hit in the fourth quarter from restructuring costs and the heavy machinery maker issued a weak outlook for 2015, citing the tumbling price of commodities. Caterpillar earned $757 million, or $1.23 per share, for the three-month period. Earnings were $1.35 per share with one-time restructuring costs removed, but that's still well...

  • CHICAGO, Jan 26- Construction and mining equipment maker Caterpillar Inc on Tuesday reported a lower net profit that came in below market expectations, due primarily to the recent drop in the price of oil and lower prices for copper, coal and iron ore. The Peoria, Illinois- based company reported a fourth-quarter net profit of $757 million, down nearly 25 percent...

  • CHICAGO, Jan 23- Deere& Co, the world's largest maker of farm equipment, will lay off more than 900 employees at plants in Iowa and Illinois in the latest round of job cuts spurred by a decline in grain prices that is hurting demand for agricultural machinery. Iowa will be hit hardest by the reductions, with about 565 workers in Waterloo and 300 others in Ankeny slated...

  • Deere will lay off about 910 workers indefinitely from factories mostly in Iowa and sideline another 500 employees in Illinois until late summer, as the agricultural equipment maker continues its adjustment to demand for its products. The Moline, Illinois, company also said Friday that it is adding 220 jobs at construction and forestry factories in Iowa.

  • *HSBC/ Markit Flash Manufacturing PMI at 49.8 in January. BEIJING, Jan 23- China's manufacturing growth stalled for the second straight month in January and companies had to cut prices at a faster clip to win new business, adding to worries about growing deflationary pressures in the economy, a private survey showed. "Today's data suggest that the manufacturing...

  • Joy Global revenue falls as miners cut output Wednesday, 17 Dec 2014 | 12:35 PM ET
    Joy Global mining machinery.

    Joy Global, which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in revenue as customers cut production.

  • Dec 16- Mining equipment maker Joy Global Inc, which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in quarterly revenue as customers cut production. Joy Global forecast a profit of $3.10- $3.50 per share for 2015, below the average analyst estimate of $3.57, according to Thomson Reuters I/B/E/S. Overall bookings at Joy Global...

  • Mining equipment maker Joy Global's revenue falls 4 pct Wednesday, 17 Dec 2014 | 6:27 AM ET

    Dec 16- Mining equipment maker Joy Global Inc, which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in quarterly revenue as customers cut production. Net income rose to $136.9 million, or $1.38 per share, in the fourth quarter ended Oct. 31, from $26.8 million, or 25 cents per share, a year earlier. Revenue fell to $1.13 billion from...

  • *Weak gold prices hurts Sumitomo Metal Mining. TOKYO, Dec 1- Japan's Nikkei share average rose to a fresh seven-year high on Monday as strong corporate spending lifted sentiment, with airline shares extending gains as oil prices tumbled further. Such machinery shares benefited from the strong capital spending figures, with Fanuc Corp rising 1.9 percent and...

  • Nov 26- Deere& Co said it expected equipment sales to fall further as lower grain prices discourage farmers from buying tractors, harvesters and other machinery. Corn prices have fallen about 11 percent this year so far, on top of a decline of nearly 40 percent last year. Moline, Illinois- based Deere cut its forecast for corn price next year to about $3.45 per bushel...

  • Nov 26- Deere& Co forecast a drop in equipment sales in the current quarter as lower grain prices discourage farmers from buying tractors, harvesters and other agricultural machinery. Corn prices have fallen about 11 percent this year, on top of a decline of nearly 40 percent last year. Net income attributable to Deere fell to $649.2 million, or $1.83 per share, in...

  • PALMDALE, Calif., Nov 21- Lockheed Martin Corp expects to reach an agreement next year with a launch customer for a giant new hybrid airship that would revolutionize the way oil and mining companies haul equipment to the Arctic and other remote areas without roads. The initial version of the airship, filled mostly with helium, would carry 20 tons of cargo, but could...

  • *Sept core machinery orders +2.9 pct vs f'cast -1.9 pct. TOKYO, Nov 13- Japan's core machinery orders unexpectedly rose for the fourth straight month in September and manufacturers grew more confident this month, suggesting the economy may be finally starting to gather speed after the hit from an April sales tax hike. Thursday's data also offered an encouraging...

  • Oct 31- Construction equipment company Caterpillar Inc on Friday said the U.S. Securities and Exchange Commission is investigating how it accounted for its July 2011 purchase of Bucyrus International Inc.. In its quarterly report, Caterpillar said the Sept. 10 subpoena from the SEC seeks information about its accounting for goodwill relating to the $7.6...

  • WASHINGTON, Oct 23- New claims for U.S. unemployment benefits held below 300,000 for a sixth straight week last week, suggesting the labor market was shrugging off jitters over a slowing global economy. Weakening growth in China and the euro zone, however, appears to be impacting the manufacturing sector, with other data on Thursday showing factory activity at a...

  • Shares of both Caterpillar Inc and 3 M Co rose following their results, with heavy machinery maker Caterpillar also raising its full-year profit view. Caterpillar was up 4.2 percent at $98.31 while 3 M added 4.3 percent to $144.95. "It's good to see good numbers in any company, but if we're looking at headwinds like currency and slowing global growth, seeing...