Construction equipment company Caterpillar (CAT) on Tuesday reported an 8% year-over-year increase in worldwide global machine sales for the rolling three-month period ending in May.
Providing a significant bump in its total machine sales was its performance in Asia and the Pacific.
Caterpillar's sales rose 49% in the region driven by strong gains in sales of resource industries equipment.
Total sales in the company's energy and transportation division rose 4% in May following April's 2% decline.
Shares of Peoria, IL-based Caterpillar were climbing higher during early afternoon trading on Tuesday.
What's Hot On TheStreet
TheStreet's Lindsay Rittenhouse went shopping online at Ohio stores to see how Whole Foods stacked up against Walmart Stores Inc. (WMT) and rival grocer Kroger (KR) . While the results may not be shocking, they show just how much Amazon will have to cut for Whole Foods to be on equal footing with some of its competitors.
The cost of eight everyday food items at Whole Foods, TheStreet found, were nearly double those of the ones at Walmart, but Kroger undercut them both. Whole Foods' basket cost $38.29; Walmart's, $19.86; and Kroger's, $16.58.
With data as shocking as this, it's no wonder Whole Foods founder John Mackey is in love with Amazon.
Tesla's stock is out of control: Tesla Inc. (TSLA) shares are expected to have a strong session amid reports Elon Musk's electric car baby may open a new production facility in China. Such a move would avoid tariffs in the world's second-largest economy, but risk the ire of U.S. President Donald Trump's "buy American, hire American" industrial policy, TheStreet's Martin Baccardax reports.
Tesla's market cap is now more than $60 billion and climbing, despite the company continuing to lose money. Ford's (F) market clocks in at $44.7 billion, while General Motors (GM) stands at $51.9 billion.
Worried about how to pay for your golden years? Ken Fisher, founder of Fisher Investments, and TheStreet's Jim Cramer will tell you what you need to know in a June 21 webinar on the market trends that are shaping retirement planning today. Register here for the event, which starts at 11 a.m. ET.
Visit here for the latest business headlines.