The stock market closed mostly higher Thursday, helped by positive earnings out of several large U.S. companies including Apple and construction equipment maker Caterpillar. The gains were modest, however, as investors turned their eyes back to Russia and Ukraine, where geopolitical tensions were heating up again.» Read More
Caterpillar's first-quarter earnings climbed 5 percent, and the construction equipment maker raised its 2014 forecast. Caterpillar Inc. share jumped 4 percent before markets opened Thursday and after the company released its results. Caterpillar said it earned $922 million, or $1.44 per share, in the quarter that ended March 31.
DALLAS— Caterpillar Inc. cut the value of its CEO's pay package by 32 percent to $12 million in 2013, a year when the heavy machinery maker saw its profits fall by a third, according to an Associated Press analysis.
WICHITA, Kan.— An industry report shows U.S. sales of combines were down in March compared to the same month a year ago, even as farmers purchased more tractors during the same period. The Association of Equipment Manufacturers reported Thursday a more than 21 percent drop last month in sales of combines nationwide.
*Expects full-year earnings/share $0.70- $1.00 vs est $0.89. April 10- Heavy equipment retailer Titan Machinery Inc said it expects its construction machinery business to break even this year after losing money for two years, reducing the impact from a slowdown in its larger farm equipment division.
MOLINE, Ill., April 9- Steps away from a replica of the revolutionary 1837 steel plow at tractor company John Deere's headquarters sits a combine as big as a tank and packed with computer wizardry that harvests huge volumes of valuable data as it gathers crops.
WASHINGTON, March 28- Caterpillar Inc's offshore tax strategies will come under scrutiny on Tuesday at a U.S. Senate hearing expected to examine dealings by the world's largest mining and construction equipment maker in Switzerland, Bermuda and Luxembourg.
WASHINGTON, March 24- A U.S. Senate subcommittee known for investigating corporate tax avoidance said on Monday it will hold a hearing on April 1 to examine the offshore tax strategies of Caterpillar Inc, the world's largest mining and construction equipment maker.
*Kion aims to replace Toyota Industries as No.1. FRANKFURT, March 20- German forklift truck maker Kion aims to overtake Toyota Industries Corp to become global market leader no later than 2020 by focusing on growth in Asia and the United States, its chief executive said on Thursday.
March 6- Mining equipment maker Joy Global Inc said demand from miners for maintenance work was returning after more than a year of delay when its main customers struggled with a coal glut and weak prices. Joy Global's shares rose as much as 5.4 percent in early trading after the company also raised the lower end of its 2014 profit forecast range.
March 6- Joy Global Inc reported a two-thirds drop in quarterly profit due to lower demand for mining equipment in the middle of a coal glut, but the company said maintenance revenue was rising as miners can no longer delay work on old equipment.
March 6- Joy Global Inc, a mining equipment maker, reported a 66 percent fall in quarterly profit as coal miners struggling with oversupply cut spending. Joy Global, which gets about two-thirds of its total revenue from coal miners, has cut costs to offset the impact of lower sales.
March 6- Joy Global Inc, a mining equipment maker, reported a 66 percent fall in quarterly profit as coal miners cut spending due to weak prices caused by oversupply. The company's net income fell to $48.9 million, or 48 cents per share, in the first quarter from $142.1 million, or $1.33 per share, a year earlier.
Feb 12- Deere& Co posted a stronger-than-expected quarterly profit on Wednesday but kept its full-year forecast unchanged, indicating the challenges the farm equipment industry faces as commodity prices come off the record highs of recent years.
Feb 12- Deere& Co posted a stronger-than-expected quarterly profit on Wednesday as cost controls helped offset the effects of moderating demand for its tractors, harvesters and other agricultural machinery.
Feb 12- Deere& Co posted a stronger-than-expected quarterly profit on Wednesday as the company's efforts to control costs offset moderating demand from farmers for its tractors, harvesters and other agricultural machinery.
Feb 4- Agriculture machinery maker Agco Corp warned of weak demand in 2014 due to reduced farm income and forecast current-quarter earnings well below Wall Street expectations. Economic uncertainty in Europe, coupled with a slowdown in demand from U.S. farmers, has weighed on Agco as corn prices continue to slide, pressured by a record crop in 2013..
Feb 4- Farm machinery maker Agco Corp reported a 36 percent increase in quarterly profit as strong sales in Europe offset weakness in South America.
Canton, Ohio- based Timken joins heavy-equipment maker Caterpillar Inc and toolmaker Kennametal Inc in citing weakness in the mining sector as a drag on profit. Kennametal cut its organic sales growth estimate to 2-4 percent from 4-6 percent due to weak conditions in underground mining in the United States and China.
*Caterpillar profit stronger than expected; shares rally. Caterpillar Inc, however, limited the losses of the Dow and S&P 500. The stock jumped 5.9 percent to $91.29 after the maker of mining and construction equipment reported a stronger-than-expected quarterly profit.