NEW YORK - U.S. stocks fell sharply on Tuesday, with Microsoft and Caterpillar shares tumbling after quarterly results, while an unexpected decline in durable goods orders also weighed on sentiment.
Recent Business News
NEW YORK - Oil rose on Tuesday as a weaker dollar propped up commodities priced in the currency, but gains were limited by fears of another large build in U.S. crude stocks and that the seven-month long selloff in oil has yet to peak.
- Procter & Gamble Co , the world's largest household products maker, said net sales would fall 3-4 percent in the full year due to a stronger dollar, sending its shares down 3 percent in premarket trading.
- Lockheed Martin Corp , the Pentagon's largest arms supplier, forecast 2015 earnings below analysts' estimates due to lower pension income.
- 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.
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.
- Weekend links for wanderlusters, couch surfers, cooks and tinfoil hatters
- Of capital gains, taxes and income inequality
- Mortgage rates drop as good news continues
- Tallying Boko Haram’s dreadful toll
- The death penalty’s uneven application
- Mapping goats, Boehner’s Taylor Swift GIFs, visualizing jazz, and more