By Penny Yi Wang for Medill News Service Manufacturing giant Caterpillar Inc. is trying to dig out as headwinds from slowing global markets and falling oil prices pile up. The company is forecasting flat sales for the coming year. Shares of the Peoria-based company have been under pressure since mid-July when key overseas markets reported slower […]
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By Penny Yi Wang for Medill News Service Illinois Tool Works Inc. shares soared 3.8 percent on Tuesday after reporting third-quarter earnings that beat analysts’ expectations, as the company sheds unprofitable product lines. For the quarter ended September 14th, the company’s net income rose 17.5 percent, to $531 million, or $1.34 per diluted share, from the […]
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The nation’s manufacturing sector showed softer-than-expected growth in September, according to a trade report on Wednesday. The Institute for Supply Management manufacturing index slipped to 56.6 in September from 59 percent in August, indicating slowing expansion. The actual reading came below the economists’ estimate of 58.5, according to Bloomberg L.P.
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