Keyword: caterpillar

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  • Dow set to gain more than 100 points, led by Caterpillar’s earnings-driven rally

    10/24/2017 6:21:56 AM PDT · by John W · 22 replies
    marketwatch.com ^ | October 24, 2017 | Victor Reklaitis and Ryan Vlastelica
    U.S. stock-index futures pointed to a higher open on Tuesday, suggesting another round of records could be in store for the main benchmarks as earnings continue to come in largely ahead of expectations. Caterpillar Inc.’s earnings-driven rally looked set to lead the Dow industrials higher, while Whirlpool Corp.’s drop following its results helped limit the S&P 500’s advance.
  • The Export-Import Bank Is Overdrawn

    06/11/2015 5:18:42 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | June 10, 2015 | Allen West
    The Export-Import Bank charter will expire in a few days, on June 30, unless Congress acts to reauthorize it. The Export-Import Bank was created more than 80 years ago by President Franklin D. Roosevelt to help foreign customers buy goods from the United States. Some companies benefit from the Export-Import Bank and they are the first ones to defend its reauthorization. But let’s be clear: Companies benefit from Export-Import Bank loans at the expense of taxpayers and other businesses. Taxpayers—not the companies themselves—assume the risk of a foreign loan, made through a private bank (like Goldman Sachs), to purchase a...
  • Caterpillar to close Aurora plant, cut 800 jobs

    03/31/2017 7:32:47 PM PDT · by John W · 12 replies
    Chicago Tribune ^ | March 31, 2017 | Becky Yerak
    Caterpillar plans to close a machine production plant in Aurora, putting about 800 hourly employees out of work, the company confirmed Friday. The Peoria-based heavy equipment manufacturer said in January that it was considering moving production of large wheel loaders and compactors to Decatur and medium wheel loaders to North Little Rock, Ark. Caterpillar will still have about 1,200 workers, including management, engineering and support jobs, in Aurora, the company said.
  • Caterpillar to close Illinois plant, lay off 800 workers

    03/31/2017 5:24:47 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Mar 31, 2017 7:02 PM EDT
    Caterpillar Inc. has announced the closing of its facility near Aurora, Illinois, and the lay off 800 workers. Earlier this year, the earth-moving equipment maker said it would lay off employees in 2017 because of an anticipated decline in demand for its products. Caterpillar spokeswoman Lisa Miller said Friday the large wheel loaders and compactor production will be moved to the company’s Decatur, Illinois, plant. Its medium wheel loader production line will be moved to the North Little Rock, Arkansas, plant. …
  • Apparently, it won't play in Peoria [Caterpillar moving HQ to Chicago]

    03/13/2017 12:38:17 AM PDT · by iowamark · 24 replies
    Jane the Actuary blog ^ | February 1, 2017 | Jane the Actuary
    OK, that’s a lame post title; maybe I’ll come up with something wittier later.But Caterpillar just announced that it is moving 300 top executives and support staff from Peoria to the Chicago area.  The local Journal Star reports that Caterpillar’s explanation is that this puts them closer to transportation networks: “What we’re really after here in terms of the location is access to flights and the ability to get to markets more quickly,” [CEO Jim] Umpleby said. “One of the reasons we chose Chicago is it allows us that easier global access but it also is close to where we’re...
  • “I’m Sorry We Had To Experience This Today”: Caterpillar CEO Apologizes Over Shock Raid

    03/03/2017 9:10:00 AM PST · by blam · 4 replies
    Zero Hedge ^ | 3-3-2017 | Tyler Durden
    The market was caught offguard by yesterday's dramatic raid of three Caterpillar offices, including its Peoria Headquarters, which reportedly included agents from the IRS, FDIC and Commerce Department, and sent the stock tumbling by the most in over half a year. The raid took place just one week after former CAT CEO Doug Oberhelman met with Donald Trump, which prompted the president to say that he "loves" Caterpillar. While the catalyst behind the raid still remains unclear, we reminded readers yesterday that this was not the first time CAT has gotten in trouble with the authorities: back in 2014 CAT...
  • U.S. authorities raid Caterpillar's Illinois facilities

    03/02/2017 11:24:05 AM PST · by Brad from Tennessee · 23 replies
    Reuters ^ | March 2, 2017 | By Timothy Mclaughlin and PJ Huffstutter
    Federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar Inc on Thursday, a spokeswoman for the U.S. Attorney Office for the Central District of Illinois said, and the company's stock fell. The spokeswoman, Sharon Paul, confirmed that federal law enforcement activity was conducted at locations in Peoria, East Peoria and Morton. It was not immediately clear why federal agents raided the three locations. Caterpillar spokeswoman Corrie Scott said in an emailed statement that the company was cooperating with authorities. "Law enforcement is present in various Peoria-area Caterpillar facilities executing a search warrant. Caterpillar is cooperating," Scott said....
  • Law Enforcement Officials Searching Caterpillar Offices

    03/02/2017 9:51:15 AM PST · by blam · 36 replies
    Journal Star ^ | 3-2-2017 | Chris Kaergard
    PEORIA — Federal officials executed a search warrant at three Caterpillar, Inc. facilities in the Tri-County Area — including the corporate headquarters — Thursday morning. Company officials confirmed the presence in a statement without specifying which agency was performing the search or what the search was in regard to. A spokeswoman declined by email to provide further details. "Caterpillar is cooperating," the brief statement said. The spokeswoman for the U.S. Attorney for the Central District of Illinois confirmed that facilities in three communities were the subject of the activity — Peoria, East Peoria and Morton. At the Downtown Caterpillar global...
  • Caterpillar to move headquarters to Chicago area

    01/31/2017 7:40:49 AM PST · by bigbob · 62 replies
    Yahoo Finance ^ | Jan 31 2017 | Reuters
    Caterpillar Inc (CAT.N) said on Tuesday it would move its global headquarters to the Chicago area from Peoria, Illinois later this year to move closer to a global transportation hub and make it easier to recruit executives. A limited number of senior executives and some relocated from Peoria will be based at the new headquarters, and about 300 will be based there once the facility is fully operational, the company said in a statement. The company did not specify the exact location of its new headquarters.
  • Caterpillar Retail Sales Fall For Record 41 Consecutive Months

    05/20/2016 6:44:50 PM PDT · by Lorianne · 18 replies
    Zero Hedge ^ | 19 May 2016 | Tyler Durden
    For Caterpillar, the great recession was bad, for about 19 months. In May 2010, after declining sharply for just under two years, CAT posted it first positive global retail sales comps and never looked back... until December 2012 when comp sales once again turned negative and have been negative ever since. For the past 41 months! The breakdown showed that contrary to popular opinion, there has been no pick up in demand for heavy industrial machinery anywhere around the globe.
  • Caterpillar chemical turns ants into bodyguards

    08/03/2015 10:38:51 AM PDT · by Red Badger · 28 replies
    phys.org ^ | August 3, 2015 | Bob Yirka
    Arhopala japonica. Credit: Wikipedia A trio of researchers with Kobe University in Japan has found that lycaenid butterfly caterpillars of the Japanese oakblue variety, have dorsal nectary organ secretions that cause ants that eat the material to abandon their fellow ants to instead hang out with and defend the caterpillar against enemies. In their paper published in the journal Current Biology, Masaru Hojo, Naomi Pierce and Kazuki Tsuji describe their research into the relationship between the two creatures and why they believe the nature of that relationship needs to be reclassified. Scientists have studied Japanese oakblue butterflies before, noting that...
  • Muslim student: “Hamas & Sharia law have taken over UC"

    02/01/2015 7:09:05 AM PST · by Reverend Saltine · 26 replies
    JihadWatch.org ^ | January 31, 2015 | Robert Spencer
    Azka Fayyaz was probably being ironic, but what she said was closer to the truth than she would probably be willing to admit. Islamic Jew-hatred has taken over UC Davis, with the willing collusion of the administration. But in this, UC Davis is not different from most campuses in the U.S. today: the Brownshirts rule. “Student Leader: ‘Hamas & Shariah Law Have Taken Over UC Davis,'” by Daniel Mael, Truth Revolt, January 30, 2015: A resolution calling for the University of California at Davis to divest from “corporations that aid in the Israeli occupation of Palestine and illegal settlements in...
  • Dow hit by Microsoft, Caterpillar; data disappoint

    01/27/2015 11:20:09 AM PST · by Mad Dawgg · 23 replies
    CNBC.com ^ | 1/27/2015 | Kate Gibson
    U.S. stocks dropped sharply on Tuesday, with the Dow positioned for its worst hit since October, as corporations reported earnings that disappointed and orders for U.S. business equipment unexpectedly declined in December. "If you live in the northeast, and you work from home, you're trying to figure out why the market is down 400 points," Art Hogan, market strategist at Wunderlich Securities, referring to the snowstorm that halted transit in and around New York City overnight before ending earlier Tuesday. It's a combination of an increase in volatility when you have a decrease in volume, and a transition period between...
  • This Report Is A Terrible Sign For The Economy

    01/27/2015 7:35:52 AM PST · by blam · 39 replies
    BI ^ | 1-27-2015 | Myles Udland
    Myles Udland January 27, 2015It is officially a horrible morning for the economy. After the global manufacturing giant Caterpillar had poor fourth-quarter results and gave a gloomy outlook for 2015, economic data from the US has added to more bad news for the economy Tuesday morning. Durable goods orders were a HUGE miss, declining 3.4% against expectations for a 0.3% increase. Durable goods orders excluding defense and transportation orders, referred to as "core" capex, declined 0.6% in December. Last month's numbers were also revised sharply lower, with November's orders revised down to -2.1% from a prior number of -0.7%. Following...
  • Caterpillar is latest victim of sliding oil price

    01/17/2015 7:05:54 AM PST · by thackney · 67 replies
    Market Watch ^ | Jan 5, 2015 | Ciara Linnane
    Caterpillar Inc. shares tumbled Monday as the company became the latest victim of the sliding price of oil. Caterpillar’s stock CAT, -0.55% tumbled almost 6% after J.P. Morgan downgraded it to underweight from neutral on concerns about the company’s direct exposure to oil and gas, and indirect exposure to mining, U.S. construction and emerging markets. The maker of diggers and dozers’ direct exposure to the sector is equal to about $6.5 billion, or 12% of revenue, while its indirect exposure may be as much as 15% of revenues, analysts wrote in a note. That means almost 30% of its total...
  • Here's Why Warren Buffett and General Electric Are Betting Big on Natural Gas

    04/07/2014 5:33:14 AM PDT · by thackney · 7 replies
    Motley Fool ^ | March 30, 2014 | Jason Hall
    "Our confidence is justified both by our past experience and by the knowledge that society will forever need massive investments in both transportation and energy." -- Warren Buffett, 2013 letter to Berkshire Hathaway shareholders According to the company's most recent fact sheet, Berkshire Hathaway subsidiary BNSF Railways ships enough coal every year to power 10% of America's houses, and enough crude oil to fill the gas tanks of nearly 650,000 cars every day. Transporting energy is pretty important to BNSF, and BNSF is pretty important to Berkshire, having generated some $3.8 billion in net income in 2013. At the same...
  • Sen. Paul: Give Caterpillar award for tax strategy

    04/02/2014 4:16:21 AM PDT · by PaulCruz2016 · 51 replies
    Mail ^ | 04-01-2014 | Associated Press
    WASHINGTON (AP) — Caterpillar Inc. executives defended a tax strategy Tuesday that has saved the manufacturing giant billions in U.S. taxes. They got support from Republican senators, including one who said the company deserves an award. Caterpillar has avoided paying $2.4 billion in U.S. taxes since 2000 by shifting profits to a wholly-controlled affiliate in Switzerland, according to a report released by Sen. Carl Levin, D-Mich. Levin chairs the Senate investigations subcommittee. On Tuesday, Levin grilled Caterpillar executives and their accountants at a hearing on the company's tax strategy. "Caterpillar is an American success story that produces iconic industrial machines,"...
  • Caterpillar avoided $2.4B in taxes, charges Sen. Levin

    03/31/2014 4:18:22 PM PDT · by jazusamo · 54 replies
    The Hill ^ | March 31, 2014 | Peter Schroeder
    Caterpillar avoided $2.4 billion in taxes thanks to a reorganization that housed its most profitable business in Switzerland, according to a Senate report. While the report, from the Senate Permanent subcommittee on Investigations, said Caterpillar had done nothing illegal, it criticized the manufacturing giant for trying to avoid paying U.S. taxes. “Caterpillar is an American success story that produces tremendous industrial machines,” Sen. Carl Levin (D-Mich.), the head of the investigatory panel, said Monday. “But it’s also a member of the corporate profit-shifting club that has shifted billions of dollars in profits offshore to avoid paying U.S. taxes,” Levin said....
  • No Dead CAT Recovery On This Sales Chart

    08/20/2013 7:45:56 AM PDT · by Perdogg · 4 replies
    Zero hedge ^ | Submitted by Tyler Durden on 08/20/2013 09:25 -0400
    No Dead CAT Recovery On This Sales Chart (Where Caterpillar Asia Sales Post Biggest Drop Since November 2009) There was some hope two months ago when CAT global retail sales posted a modest uptick between February and May, rising from a recent low of -13% Y/Y to "only" declining -7%. Alas, it turned out to be nothing but a dead CAT bounce, as a month ago hopes the global recovery would continue were dashed after the -7% global dealer retail sales dipped once again to -8%. Moments ago, the downward trend continued its acceleration, when the company reported global retail...
  • Florida Boycott Extended to Coca Cola, Lemonade, Foot Locker, Dixie Cups

    07/23/2013 9:13:29 AM PDT · by kevcol · 72 replies
    Frontpage Mag ^ | July 23, 2013 | Daniel Greenfield
    Currently the left is boycotting Nestle, Caterpillar, BP, Bank of America, Florida, Arizona and every company on earth. Not to mention Israel.