“We believe it’s in the best strategic interest of the company to make this move,” CEO Jim Umpleby said.
Caterpillar
Caterpillar stock sagged toward a one-month low Tuesday. Concern over slowing global economies drove the bellwether industrial stock downward.
Caterpillar fell well short of fourth-quarter profit expectations and the machine maker said that sales have begun to slow in China. Shares tumbled 10 percent at the opening bell Monday, the worst sell-off in more than seven years.
Caterpillar beat most profit and revenue expectations in the third quarter, but company shares were punished Tuesday when Wall Street sensed some pessimism in the company's outlook, which remains unchanged.
We talk with Crain's Chicago Business Deputy Managing Editor Ann Dwyer about some of the biggest business stories this week, from Aon Center being sold to Caterpillar looking to Cuba to boost sluggish sales. Also, find out when McDonald’s will begin serving breakfast all day.
After its much publicized troubles with the now grounded 787 Dreamliner, Boeing reports its fourth quarter results. Kris Kridel of WBBM Newsradio 780 and 105.9FM has that story, and more top business headlines.
Illinois gets a billion dollars as part of a multi-state foreclosure settlement. Kris Kridel of WBBM Newsradio 780 and 105.9FM has that story, and more top business headlines.
A local company is in trouble for selling snake oil. Kris Kridel of WBBM Newsradio 780 and 105.9FM has that story, and other top business headlines.
Groupon hits the road to pitch its IPO to investors, while McCormick Place strikes a new, major union deal. Kris Kridel of WBBM Newsradio 780 joins us to discuss these stories and more top business headlines.
