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Presbyterians Divest From 3 Big Companies Over Israel

Church says H-P, Motorola, Caterpillar help build settlements

(Newser) - The biggest Presbyterian denomination in the US made headlines last night by voting to divest from three big companies it says help Israel oppress Palestinians, reports Religion News Service . Presbyterian Church USA will sell its stock in Caterpillar, Hewlett-Packard, and Motorola Solutions because it says Israel uses their products in... More »

Amphibious Caterpillars Can Live Underwater for Weeks

Creature may breathe through bodily pores

(Newser) - Researchers in Hawaii have discovered several species of caterpillars that live underwater for weeks at at time. What's more remarkable is that insects don't have gills—or hold their breath. Other amphibious creatures that survive under water store oxygen in their lungs. These guys don't. "I couldn't believe it,... More »

Dow Up 46 Ahead of Earnings

China reports big 56% jump in imports from year-ago

(Newser) - The markets were mixed today as traders awaited the launch of quarterly earnings season, which began after the bell. Dow component Caterpillar gained on trade figures from China, the Wall Street Journal reports.
  • The Dow gained 45.80 points to close at 10,663.99.
  • The Nasdaq lost 4.76,
... More »

Dow Climbs 96 to New 2009 High

Expectations for Caterpillar, AmEx earnings boost Dow

(Newser) - Stocks rallied today on expectations for this week’s earnings reports, with the Dow rising 96.28 points to hit a new 2009 high of 10,092.19. Caterpillar, which reports tomorrow, gained 6.5% after saying it would raise prices. American Express, which reports Thursday, gained 2.6%. Traders... More »

Tech Falls, But Dow Up 68

Market extends winning streak into 7th day

(Newser) - Stocks closed with modest gains today as the tech and financial sectors, drivers of the recent rally, lost some steam, the Wall Street Journal reports. Nonetheless, the Dow was boosted by a 7.7% rise by Caterpillar, which reported a smaller-than-expected profit decline and raised its full-year earnings forecast. Apple... More »

Manufacturing Stats Send Dow Down 187

Manufacturing, housing demand reports disappoint

(Newser) - Stocks fell today as a sharp monthly decline in the New York Fed’s manufacturing index hammered the materials, industrial, and energy sectors, the Wall Street Journal reports. Alcoa fell 6.3%, with Caterpillar, John Deere, and GE also down. In housing, the National Association of Home Builders’ index of... More »

Stocks, Oil Jump Together

(Newser) - Stocks jumped at the open today, with the Dow up 61 points, the Nasdaq adding 0.5%, and the S&P gaining 0.7%, powered by strong moves in its energy and basic materials sectors. That was due in part to the surge in fuel prices, with oil clearing $71... More »

Earnings Send Stocks South

(Newser) - Stocks slid at the open this morning, after a rash of less-than-inspiring earnings reports from major companies. The Dow was down 30 points, as components Coca-Cola, Caterpillar, Dupont, and Merck all posted lousy first quarters. Caterpillar swung to a loss and slashed guidance, sending shares down 5%, while Dupont fell... More »

Worries Prevail, Dow Falls 42

Industrial, financial stocks pace declines

(Newser) - Stocks fell today, ending a 4-day winning streak for the Dow as worries about grim first-quarter earnings reports spooked investors, the Wall Street Journal reports. Alcoa, which will give its report tomorrow, fell 4.3%, as did Caterpillar, off 3.5%. The Dow fell 41.74 to close at 7,... More »

Dow Drops 300 to Lowest Close Since '97

Index makes a beeline for 6,000

(Newser) - Investors sold stock in droves today amid continued financial-sector woes and a poor report on manufacturing, the Wall Street Journal reports. Financials sank, and the manufacturing woes sent General Electric, Boeing, Caterpillar and 3M into downward spirals. The Dow fell 299.64 to close at 6,763.29. The Nasdaq... More »

Caterpillar Boss Contradicts Obama on Jobs

Even more layoffs will be needed before stimulus works: CEO

(Newser) - Caterpillar's CEO said the stimulus package would let the company start rehiring laid-off workers, according to President Obama—but he was swiftly contradicted by the boss himself, ABC News reports. CEO James Owens said that even with the stimulus package, the massive scale of the downturn would require the firm... More »

Big Biz Slams 'Buy American' Stimulus Clause

Exporters warn of foreign backlash if package erects free-trade barriers

(Newser) - American exporters are fighting to ditch "Buy American" provisions from the economic stimulus package, the Washington Post reports. The House version bars most foreign iron and steel from stimulus projects, while a Senate version calls for only American-made equipment and goods to be used in nearly all projects to... More »

Stocks Shrug Off Job Losses

Pfizer deal drives gains

(Newser) - Pfizer’s massive deal to buy Wyeth helped investors shrug off the bloodbath at Caterpillar, Home Depot and Sprint-Nextel this morning, sending indexes slightly higher at the open. The Dow rose 55 points, while the S&P and Nasdaq rose 11 and 18 points respectively. Caterpillar fell 10% pre-market after... More »

Caterpillar to Slash 20K Jobs

Don't they know Obama wants to heap money on infrastructure?

(Newser) - Caterpillar Inc will cut 20,000 jobs—or 18% of its workforce—after posting a 32% drop in fourth-quarter income, the Wall Street Journal reports. “We were whipsawed in the fourth quarter,” said CEO Jim Owens. “Key industries were hit by a rapidly deteriorating global economy.”... More »

Late Reversal Leads to Gains

Off big early on Lehman, worries, Dow finishes session up 164.79

(Newser) - The markets saw gains late in the day today despite large losses in the financial sector, MarketWatch reports. Lehman Brothers fell another 41.9% as traders deemed its survival plan ineffective. But falling oil boosted industrial and transport shares, and the Dow closed up 164.79 at 11,43371. The... More »

Industrial Firms Lead Recovery

(Newser) - Stocks rebounded from yesterday's miserable day to close with mild gains, MarketWatch reports. Energy and industrial firms did well after yesterday's huge sell-off, but concerns about Lehman Brothers continued to weigh on the financial sector. The Dow closed up 38.19 points at 11,268.92, the Nasdaq rose 18.... More »

Stocks Rise as Oil Drops

Price of barrel drops to $126, a 7-week low

(Newser) - Stocks climbed to robust gains by the end of today’s session as a drop in oil helped offset a spread of mixed earning reports, MarketWatch reports. The Dow gained 135.16 points to close at 11,602.50, the Nasdaq rose 24.43 to 2,303.9, and the... More »

Strong Earnings Propel Rally

Nasdaq up almost 5%, Dow and S&P jump 4% for the week

(Newser) - Stocks rallied to weekly gains today as the markets absorbed last night's strong earnings report from Google and industrial multinationals Caterpillar and Honeywell recorded unexpected first-quarter growth, Bloomberg reports. Google propelled the Nasdaq up 61.14 to close at 2,402.97. The Dow rose 228.87 to 12,849.... More »

Selloff Drives Dow Down 171

Two-day rally snaps on renewed jitters over mortgage crisis

(Newser) - A 2-day rally sputtered today as the Dow fell 171.44 to 12,207.17 on new jitters about a touchy market. Even strong quarterly reports from Microsoft, Caterpillar, and Honeywell couldn’t keep investors buying this morning; said one economist, “The market is still in a very fragile... More »

Dow Dives 367 on 'Black Friday'

(Newser) - Wall Street observed the 20th anniversary of Black Monday with an absolute bloodbath today as the Dow fell a whopping 366.94 points to close at 13,522.02. Wachovia, Caterpillar, and Honeywell led a host of disappointing earnings reports, driving every major index down over 2.5%. The S&... More »

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