Market Features
Earnings Roundup: Caterpillar, Marshall & Ilsley
The Associated Press
Among the earnings stories for Tuesday, Oct. 20, from AP Financial News: Caterpillar is counting on overseas customers to buy more of its construction and mining equipment next year, helping move the company beyond a deep recession that slammed its third-quarter earnings. Marshall & Ilsley Corp. reported a third-quarter loss of $248.4 million as soured loans made to other banks and to mortgage borrowers hurt results. Lockheed Martin Corp. said its third-quarter earnings rose amid a flurry of sales of military aircraft, including the C-130J transport plane and Joint Strike Fighter, and delivery of one commercial satellite. Peabody Energy Corp. said its third-quarter profits plunged 71 percent as cooler weather and cheap natural gas curtailed coal-fired power generation. But the performance soundly topped expectations and the company offered a rosier production outlook. Shares of Pixelworks Inc. tumbled after the company, which makes chips used in high-end televisions posted a third-quarter loss and lower revenue. Supermarkets operator Great Atlantic & Pacific Tea Co. said its chief executive, Eric Claus, resigned and the company posted a wider fiscal second-quarter loss, hurt by rising unemployment and price competition.TheStreet Premium Services
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