This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Business Highlights

By contrast, private-sector jobs have increased by 1.6 million over the past 12 months. But the state, local and federal job losses have become a drag on efforts to nudge the nation's unemployment rate down from its painfully high 9.1 percent.

___

Caterpillar third-quarter profit soars, raises year view

NEW YORK (AP) â¿¿ Strong demand for machinery drove up Caterpillar's profit 44 percent in the third quarter and the company expects even stronger sales next year.

The world's largest maker of construction and mining equipment earned $1.14 billion, or $1.71 per share, in the third quarter, compared with $792 million, or $1.22 per share, a year earlier. Revenue surged 41 percent to $15.72 billion.

Excluding its $7.6 billion acquisition of surface mining equipment maker Bucyrus International Inc., Caterpillar earned $1.93 per share on revenue of $14.58 billion.

Analysts polled by FactSet Research were expecting a profit of $1.63 per share on $14.84 billion in sales.

___

Peabody Energy, ArcelorMittal acquire coal company

LUXEMBOURG (AP) ⿿ Peabody Energy Corp and Luxembourg-based ArcelorMittal say they have acquired controlling interest in an Australian coal company for a price reportedly in excess of $5 billion (⿬3.62 billion).

Peabody â¿¿ the U.S.-based world's largest private-sector coal company â¿¿ and ArcelorMittal â¿¿ the world's largest steelmaker â¿¿ said Monday they now control nearly 60 percent of the shares of Macarthur Coal Ltd, and will appoint representatives to the Macarthur board.

Macarthur is a major producer of pulverized coal, which is coveted by steel producers.

PEAMCoal Pty Ltd, the holding company now controlling 59.85 percent of the Macarthur shares, is 60 percent owned by Peabody and 40 percent owned by ArcelorMittal.

___

Mattel buying Thomas the Tank Engine's parent

EL SEGUNDO, Calif. (AP) â¿¿ Mattel has agreed to buy the company behind Thomas the Tank Engine and Bob the Builder for $680 million in cash, the toy maker's biggest acquisition in a decade.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs