Caterpillar Earnings Miss Amid China Downturn
The company's shares fell more than 9% as it forecast "roughly flat" construction sales growth in China this year.
Caterpillar Posts Record 2nd Quarter Profit
“A strong global economy ... is helping manufacturers like Caterpillar book more orders and deliver higher profits despite growing cost pressures."
Deere Profits Jump 50% to Record $1.21B
"We believe Deere is well-positioned to capitalize on further growth in the world's agricultural and construction equipment markets," CEO Samuel Allen says.
Caterpillar to Close 5 Plants, Cut More Jobs
The downsizing is part of Caterpillar's plan to reduce its workforce by roughly around 10,000 employees and close about 20 production facilities.