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Global Mining and Energy Products, Caterpillar Inc. Demand 1Q Earnings up 13 percent
Heavy equipment maker Caterpillar Inc. said Friday that demand for its global mining and energy products pushed first-quarter earnings up 13 percent, far surpassing Wall Street estimates. Its stock surged.
The results showed continued weakening in North America, where the economy has weighed on sales, but better-than-expected strength internationally as Caterpillar sales overseas benefited from the [...]
Caterpillar profit tops estimates
Caterpillar Inc. reported better-than-expected quarterly earnings on Friday and raised its outlook, saying “exceptional growth” overseas offset weakness in the U.S. residential housing and truck engine markets.
Shares of the manufacturer of heavy construction and mining equipment surged 4.6 percent and gave the overall market a boost.
U.S. October Trade Deficit Probably Narrowed for a Second Month
The U.S. trade deficit probably narrowed for a second month in October as oil prices fell, economists project a government report today will show.
The trade gap narrowed by $1.3 billion to $63 billion, the smallest since March, based on the median of 62 forecasts in a Bloomberg News survey. The deficit shrank 6.8 percent in [...]
Wall Street Retreats Amid Mixed Signals
Investors concerned about erratic oil prices and a slowing economy sent stocks lower Wednesday despite strong earnings from Cisco Systems and the Federal Reserve’s pause in raising interest rates.
The stock market fell as crude futures fluctuated widely during the session. After nearing record highs after the Energy Department reported falling crude inventories, a barrel of [...]
