Category: Construction

3 ways technology is helping the construction industry

Dave Bullard examines a 3-D printed “stick,” part of an excavator, during the first day of the 2017 CONEXPO-CON/AGG convention Tuesday, March 7, 2017, at the Las Vegas Convention Center. The massive construction vehicles garner immediate attention at CONEXPO-CON/AGG 2017 concluding today at the Las Vegas Convention Center, but it’s what’s tucked behind those monstrosities that could have the biggest impact.

Caterpillar denies that it broke tax laws

Caterpillar is denying that it broke federal tax laws a week after its headquarters and other facilities were raided by the Internal Revenue Service and other federal agencies. The exact reason for the raids remains unclear, but Caterpillar told the Securities and Exchange Commission in a filing last month that the IRS had notified the company it owed $2 billion in additional taxes because of profits from a Swiss unit.

TopBuild: Cramer’s Top Takeaways

When companies break up, they can create enormous value, and nowhere is that more evident than with TopBuild , the former services arm of Masco that began trading as an independent company in July 2015. Since the spinoff, shares of TopBuild have rallied 50% and Cramer said the move is not yet over.

Caterpillar Sued by a Shareholder After Federal Raid

Caterpillar Inc was sued on Friday for allegedly deceiving shareholders about its business, one day after federal law enforcers raided three of its buildings in connection with a probe into the heavy machinery manufacturer’s offshore tax practices. In a complaint filed in Chicago federal court, Jacob Newman accused Caterpillar of defrauding him and other shareholders in regulatory filings by touting its commitment to good ethics, while concealing how it “unlawfully used foreign subsidiaries” to avoid paying billions of dollars of U.S. taxes.

Elliott Settles With Advisory Board as Strategic Review Continues

The healthcare technology and consulting firm reached a deal with activist investor Paul Singer’s fund that ends the threat of a director battle-for now. Advisory Board on Friday reached a settlement with activist investor Elliott Management’s Paul Singer that ends the threat of a director battle-for now-as the healthcare technology and consulting firm continues to explore strategic alternatives, such as a sale.

Caterpillar CEO Umpleby Apologizes Following Thursday’s Raids

Caterpillar CEO Jim Umpleby reiterated that Catepillar remains an ‘honorable company’ in a memo to employees following raids by federal authorities. Caterpillar CEO Jim Umpleby has apologized to the company’s employees for raids that took place on Thursday by federal authorities at the company’s Illinois facilities, including its headquarters in Peoria.

Caterpillar, a Trump Darling, Lands in Government Crosshairs

Caterpillar Inc., the bellwether U.S. equipment maker praised just last week by President Donald Trump, now finds itself a government target as federal tax and banking authorities raided its Illinois offices. The investigation comes as new Chief Executive Officer Jim Umpleby shifts its global headquarters to Chicago to bolster the machinery maker’s push into foreign markets.

Wall St Slips After Record Rally; Caterpillar Drags Dow

U.S. stocks retreated on Thursday as investors booked profits after a record run a day earlier, with Caterpillar’s slump dragging down the Dow Jones Industrial Average. The S&P 500 and the Nasdaq on Wednesday had their best day since the November election, boosted by President Donald Trump’s more measured tone in a speech to Congress and as bank stocks surged on increased chances of an interest rate hike this month.

Caterpillar Office Raid Fuels Biggest Slump in Eight Months

Caterpillar Inc. shares headed for the steepest decline in eight months as the world’s biggest maker of machinery for mining and construction had its offices raided by law enforcement officials. Searches were conducted Thursday in Peoria, East Peoria and Morton by the Internal Revenue Service, the Federal Deposit Insurance Corp. and the Commerce Department, Sharon Paul, a spokeswoman for the U.S. attorney’s office for the Central District of Illinois, said in by telephone.

Manitowoc CEO: Trumpa s Infrastructure Plan Will Help Rehire Our Workers

Manitowoc Company CEO & president Barry Pennypacker on Trump's $1 trillion infrastructure plan, and how a border tax would impact his company. “Crumbling infrastructure will be replaced with new roads, bridges, tunnels, airports and railways gleaming across our very, very beautiful land,” Trump said in his first address to a joint session of Congress on Tuesday.

Group says Buffett’s firm opposes selling fossil fuel stocks

A group of environmentalists that wants Warren Buffett ‘s company to sell its investments with ties to fossil fuels says Berkshire Hathaway is opposing the measure. Nebraskans for Peace said Tuesday that Buffett’s company told the group it opposes the measure that Berkshire shareholders will vote on later this spring.

Stock plunges, trading halted in owner of Kay and Jared jewelry chains after Post report

The parent company of Sterling Jewelers, which owns Jared the Galleria of Jewelry and Kay Jewelers, halted trading in its stock Tuesday after shares plunged to a four-year low. The Washington Post reported on Monday evening that about 250 former employees allege in sworn statements that the company’s chief executive and other leaders fostered a culture of rampant sexual harassment and discrimination.

Martin Marietta Materials: Cramer’s Top Takeaways

In an “Executive Decision” segment, Cramer spoke with Ward Nye, chairman, president and CEO of Martin Marietta Materials , a stock that’s been on fire since the election as investors pin their hopes on a major infrastructure bill from Washington. Nye said that his company’s shares fell hard during the recession as housing collapsed and our country lacked a federal highway bill.

Buffett Stings Hedge Funds Anew Over Their `Misbegotten’ Rewards

Warren Buffett’s sweeping endorsement of index investing is sure to sting the hedge-fund industry and encourage the stampede into assets that passively track the market. In his well-read annual letter to Berkshire Hathaway Inc. shareholders on Saturday, he estimated that investors wasted more than $100 billion on high-fee Wall Street money managers over the past 10 years.

Warren Buffett praises a talented and ambitious immigrantsa in shareholder letter

Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events It’s become an American tradition to parse billionaire Warren Buffett’s annual letters to his shareholders for nuggets of plain-spoken insight, wit and sometimes a dash of politics. In this year’s letter, the Berkshire Hathaway chairman brought up a familiar subject under Donald Trump’s presidency: immigrants.

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Warren Buffett on Saturday mounted a forceful and upbeat defense of the prospects for American business, as his Berkshire Hathaway Inc reported a higher quarterly profit though operating income fell. In his annual letter to Berkshire shareholders, Buffett said investors “will almost certainly do well” by staying with the long term with a “collection of large, conservatively financed American businesses.”

Warren Buffett credits ‘miraculous’ America in part to ‘tide…

The Berkshire Hathaway CEO has long been a believer in the economic power of the American people and its institutions and that opinion does not appear to have changed in his 2016 Annual Letter to Shareholders. “From a standing start 240 years ago a span of time less than triple my days on earth Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers.”

Deere 1Q Profit Beats Estimates, Raises Forecast

U.S. farm equipment maker Deere & Co reported a better-than-expected quarterly profit and raised its fiscal 2017 equipment sales forecast as it expects key farm markets to stabilize this year. Deere’s sales have been hit in the past few years as bumper corn and soybeans harvests have driven down prices, leaving farmers with less cash to spend on equipment.

Deere Raises Profit Forecast as It Sees Signs of Recovery

Deere & Co., the world’s largest manufacturer of farming machinery, raised its 2017 profit forecast and said there are signs the worst may be over in a market that’s suffered a sustained slump lasting years. Net income will be about $1.5 billion in the year through October, Deere said Friday in a statement, exceeding both its own previous forecast and the average estimate among analysts, both of which were $1.4 billion.

Buffett Bets Big on Apple

Warren Buffett’s Berkshire Hathaway Inc was an aggressive buyer of stocks in last year’s fourth quarter, disclosing significant increases in its stakes in Apple Inc and in the four biggest U.S. airlines. In a regulatory filing, Berkshire said it nearly quadrupled its stake in Apple to about 57.4 million shares, worth roughly $6.64 billion as of Dec. 31, from 15.2 million shares three months earlier.

Apple breaks intraday record high for first time since 2015

Apple Inc’s share price hit an intraday record high on Tuesday for the first time in almost two years as investors raised bets that a 10th anniversary iPhone will boost lackluster sales. The stock touched an intraday all-time high of $135.09, beating its previous intraday high of $134.54 set on April 28, 2015.

Toshiba’s Nuclear Reactor Mess Winds Back to a Louisiana Swamp

If you want to understand why Toshiba Corp. is about to report a multi-billion dollar write-down on its nuclear reactor business, the story begins and ends with a one-time pipe manufacturer with roots in the swamp country of Louisiana. The Shaw Group Inc., based in Baton Rouge, looms large in the complex tale of blown deadlines and budgets at four nuclear reactor projects in Georgia and South Carolina overseen by Westinghouse Electric Co., a Toshiba subsidiary.

Berkshire’s Airline Bet Said to Stem From Faith in Parker’s Call

Warren Buffett once quipped that a “farsighted capitalist” should have shot down Orville Wright at Kitty Hawk to spare investors all the losses they would suffer on airlines in the decades after the birth of flight. That’s why it was a surprise when, in November, the billionaire’s Berkshire Hathaway Inc. disclosed investments in the four largest U.S. carriers: American Airlines Group Inc., Delta Air Lines Inc., Southwest Airlines Co.

Why Manitowoc Stock Jumped 14.2% in January

They were buoyed by Donald Trump’s inauguration speech on Jan. 20, in which he emphasized his “America first” ideology and restated his plans to rebuild the nation’s infrastructure. Expectations of strong numbers from Caterpillar Inc. Manitowoc shares gained momentum during the third week of January, which coincided with Trump’s swearing-in ceremony and Caterpillar’s fourth-quarter and 2016 earnings release.

Meritage Homes Corp. Finishes 2016 Strong, but a Few Things Bear Watching

Yet following the company’s earnings release and conference call with investors, shares were trading down 5%, because of a couple of things that have created some uncertainty around the company’s ability to continue growing sales and profits. Let’s take a closer look at Meritage Homes’ results, and what management had to say about those results, as well as what to expect going forward.