Comprehensive Real-Time News Feed for Peoria, IL.
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The report marks 42 consecutive months of declining sales for Caterpillar. However, Eli Lustgarten, an analyst at Longbow Research, said the pace of decline for the Peoria, Illinois-based manufacturer appears to be decelerating, a possible sign of stabilization. Comment?
Caterpillar Inc, the world's largest maker of heavy equipment, is ready to move swiftly into the Cuban market once the U.S. trade embargo is lifted, Chief Executive Doug Oberhelman said on Wednesday after meeting with Cuban ministers in Havana. The detente between the United States and Cuba has raised hopes that full commercial ties will soon be restored between the former Cold War foes. Comment?
Caterpillar Inc, the world's largest maker of heavy machinery, on Friday lowered its 2016 sales and earnings outlook as steep declines in revenue from its construction, oil and gas and rail business segments hurt quarterly profit. Caterpillar, which has seen demand for equipment used in the energy and mining industries hit hard by a drop in commodity prices, experienced lower sales in the first quarter across all regions. Comment?
Caterpillar Inc's suppliers were feeling the pain of slumping sales at the world's largest mining and construction equipment maker long before it announced an extensive cost-cutting program. J-TEC Chief Executive Officer Gary Roling said Peoria, Illinois-based Caterpillar, his single largest customer, had recently pushed back a big order due this month to December. Comment?
Caterpillar Inc slashed its 2015 revenue forecast and said it could cut up to 10,000 jobs through 2018, on Thursday joining a list of big U.S. industrial companies grappling with the shock waves from the mining and energy downturn. The stock fell as much as 8 percent to a five-year low and also pulled down shares of other industrial companies and knocked about 30 points off the Dow Jones industrial average. Comment?
Caterpillar construction machines sit parked at the Patten Cat dealership in Hammond, Indiana, in this October 20, 2006 file photo. ) said it plans a new round of layoffs to cut costs as declining revenues from global mining and construction activities erodes its bottom line. Comment?
Aug 27 Heavy machinery manufacturer Caterpillar Inc said it plans a new round of layoffs to cut costs as declining revenues from global mining and construction activities erodes its bottom line. The Peoria, Illinois-based company said it notified workers earlier this week it will reduce staff in its customer services support division by cutting 475 jobs. Comment?
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