Posts Tagged ‘CAT’

Caterpillar Inc CAT profits soars to 60 percent

Thursday, January 26th, 2012

Caterpillar Inc CAT Caterpillar Inc. (NYSE: CATreported a 60 percent rise in quarterly earnings that exceeded Wall Street expectations on record sales of construction and mining equipment, and projected growth for 2011. Fourth-quarter sales and revenues in 2011 were an all-time quarterly record at $17.243 billion, an increase of 35 percent compared with $12.807 billion in the fourth quarter of 2010. Fourth-quarter profit was $1.547 billion compared with $968 million in the fourth quarter of 2010. Profit of $2.32 per share was 58 percent higher than the $1.47 per share in the fourth quarter of 2010.

The growth of Caterpiller is a positive indicator in the strength of the global economy and in construction spending in the United States. Caterpillar credits the incredible growth to many of its customers replacing aging equipment and rapid growth in developing parts of the world.

“Our strategy is squarely focused on customers, and in 2011 our employees, suppliers and dealers delivered. We improved product quality, invested significantly in manufacturing capacity and product  development, and improved our market position.” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.

About Caterpillar Inc. (NYSE: CAT)

Caterpillar Inc. is a corporation which designs, manufactures, markets and sells machinery and engines and sells financial products and insurance to customers via a worldwide dealer network. Caterpillar is the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.  With more than US$70 billion in assets, Caterpillar was ranked number one in its industry and number 44 overall in the 2009 Fortune 500. Caterpillar stock is a component of the Dow Jones Industrial Average.

Wall Street rises with euro and data. Boeing (NYSE:BA) Caterpillar (NYSE:CAT)

Tuesday, June 15th, 2010

By Rodrigo Campos

NEW YORK (Reuters) – Stocks rose on Tuesday as the euro strengthened after successful European debt auctions and U.S. data showed inflation remained under control.

The euro, a yardstick used by equity investors to gauge risk appetite, rose above $1.23 to its best level since June 3, even after a survey showed German analyst and investor sentiment fell more than expected.

Industrial and technology sectors, with high exposure to Europe, led the U.S. advance, with planemaker Boeing Co (NYSE:BA -News) up 3 percent to $66.78, while Caterpillar Inc (NYSE:CAT -News) added 2 percent to $62.17.

The move is “all related to the euro. It determines how the stock market behaves,” said Joseph Battipaglia, market strategist at Stifel Nicolaus in Yardley, Pennsylvania.

“On a day-to-day basis, a trade keying off on where the euro is seems to be the only trade that works. Until that measure stops working, they’ll keep doing that trade. It doesn’t inspire confidence,” he said.


New York state manufacturing continued to grow in June although employment fell sharply, while in a separate report U.S. import prices posted their largest decline in nearly a year in May, bolstering views of tame inflation and low interest rates.

The Dow Jones industrial average (DJI:^DJI – News) gained 98.17 points, or 0.96 percent, to 10,289.06. The Standard & Poor’s 500 Index (^SPX – News) rose 11.53 points, or 1.06 percent, to 1,101.16. The Nasdaq Composite Index (Nasdaq:^IXIC – News) added 29.84 points, or 1.33 percent, to 2,273.80.

Indexes had fallen after U.S. homebuilder sentiment fell by the sharpest amount since the height of the financial crisis as a popular homebuyer tax credit expired.

Best Buy Co (NYSE:BBY – News) dropped 6.5 percent to $38.44 after its quarterly profits missed estimates.

Spain and Belgium sold government debt on healthy demand and Ireland issued bonds in auctions that soothed investor worries about the euro zone’s debt crisis.

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)