Wachovia Cuts Dividend and Jobs; Caterpillar Builds a Global Business; Home Prices Collapse; UPS Delivers More Revenue, Less Profit; Fed Directors Split; Oil Hits Six-Week Low; UAL Stock Soars; Two For, One Against Satellite Radio Deal
The economic calendar is light in number this week, but it is not without important reports to point out. Christian Hill in Investor’s Daily Edge has the details…
Last week coffee supremo Starbucks (Nasdaq: SBUX) announced it would close 600 stores in the US and slash 12,000 jobs. But Irwin Greenstein still considers the company a good long-term investment. He says lurking behind the grim headlines is an encouraging growth story in emerging markets.
A Better Beige Book; Japan’s Daiichi Swipes Generic Drug Titan; Big Lots “Highly Motivated” to Expand; Corn Hits Another Record; Caterpillar Raises Dividend 17%; Russian Partners to Sue BP; Martha Loses CEO; Office Supply Merger.
Caterpillar Inc. (CAT) beat estimates up and down Wall Street with a 13% jump in first-quarter profit that was largely driven by booming international sales.
