CHICAGO - Caterpillar Inc on Tuesday reported lower quarterly net profit that missed expectations as lower prices for copper, coal and iron ore hurt mining equipment orders, and warned the recent fall in oil prices would make for a difficult year in 2015.
Recent Business News
- Lockheed Martin Corp , the Pentagon's largest arms supplier, reported a better-than-expected 8.6 percent rise in quarterly revenue, helped by higher demand for its F-35 fighter jets.
- Pfizer Inc reported stronger-than-expected quarterly results as sales of vaccines and cancer drugs increased, but the company forecast 2015 earnings below Wall Street expectations, citing patent expirations and the stronger dollar.
- DuPont , under pressure from activist investor Nelson Peltz to improve shareholder returns, said it plans to buy back up to $4 billion of its stock using a dividend expected from a spinoff of its performance chemicals business.
SHENZHEN, China - Taiwan's Foxconn Technology Group, the world's largest contract electronics manufacturer, will cut its massive workforce, the company told Reuters, as the Apple Inc supplier faces declining revenue growth and rising wages in China.
- Investor Nelson Peltz's Trian Fund Management LP slashed its stake in Family Dollar Stores Inc by more than two-thirds to 2.07 percent, days after the company's shareholders agreed to Dollar Tree Inc's $8.5 billion buyout offer.
It could be a tough slog to prove to fast food diners that the fast food giant deserves to keep a place at the table.
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