Shares of Caterpillar Inc., which makes heavy construction vehicles and equipment, sank Wednesday as investors focused on the company's rising raw materials costs plus weaker U.S. and European markets instead of its strong second-quarter results.

Among the stock activity stories for Wednesday, July 23, from AP Financial News:

Heavy equipment company Caterpillar Inc. said Wednesday that it reached an agreement with mining company BHP Billiton Ltd. to develop an autonomous mining haulage system.

U.S. private equity firm Carlyle Group has dropped its bid to buy a stake in a Chinese construction equipment maker, the two companies said Wednesday, after multiyear talks that stirred nationalist opposition.

Among the earnings stories for Tuesday, July 22, from AP Financial News:

Caterpillar Inc.'s second-quarter profit jumped 34 percent as stronger sales in developing countries outpaced slowing growth in North America, and higher production costs.

Construction and mining equipment company Caterpillar Inc <CAT.N> said on Tuesday that its quarterly earnings rose a surprising 34 percent as strong sales in the developing world offset continued weakness in North America and creeping softness in Western Europe and Japan.

By James B. Kelleher

Stocks surged in the final hour of trading as a sharp drop in oil prices and an analyst note prompted a late rally in financials. The Nasdaq eked out a gain but investors still punished select techs, including Apple and Texas instruments after the firms dispatched disappointing results.

Among the earnings stories for Tuesday, July 22, from AP Financial News:

Construction and mining equipment company Caterpillar Inc <CAT.N> said on Tuesday quarterly earnings rose a greater-than-expected 34 percent as strong growth in emerging economies offset weakness in North America, Western Europe and Japan.

CHICAGO (Reuters) - Construction and mining equipment company Caterpillar Inc <CAT.N> said on Tuesday quarterly earnings rose a greater-than-expected 34 percent as strong growth in emerging economies offset weakness in North America, Western Europe and Japan.

Construction and mining equipment company Caterpillar Inc said Tuesday quarterly earnings rose a greater-than-expected 34 percent as strong growth in emerging economies offset weakness in North America, Western Europe and Japan.

Caterpillar Inc., one of the world's largest heavy equipment makers, reports earnings for the second quarter Tuesday before the opening bell. The following is a summary of key developments and analyst opinion related to the period.

This week, with quarterly losses expected from Wachovia  and Washington Mutual due to defaulting mortgages, the market will also get data on existing home sales and new home sales.