Caterpillar Inc. Previously, Umpleby was a group president in charge of the company's energy and transportation segment. In his tenure so far as CEO, Umpleby has weathered some difficult times, including facing rising prices for materials such as steel and an increase in tariffs. In the company's latest quarterly earnings report in late October, Caterpillar reported its "best third-quarter profit per share in the company's history. But the company warned of possible future problems: "Manufacturing costs were higher due to increased material and freight costs.
Material costs were higher primarily due to increases in steel prices and tariffs. Freight costs were unfavorable primarily due to supply chain inefficiencies as the industry continues to respond to strong global demand.
And Umpleby has been steering Caterpillar's job-cutting as well. Earlier this week , Caterpillar said it would cut another jobs at its Joliet, Illinois production facility, leaving the plant with only a few hundred workers, down from the reported 7, people who worked at the Joliet plant in the '70s. Oberhelman announced massive job cuts at Caterpillar back in , when Caterpillar said it reduced its total workforce by more than 31, since mid by closing more than 20 facilities.
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Inflation is at a year high. But these Mad Money megatrends could help you fight back. As of p. Analysts raise their price targets on Nvidia and reiterate positive ratings ahead of the company's quarterly earnings next week.
Let's go shopping. He exercised 2. Every stock has a backstory, and the backstories offer hints and clues to what lies ahead. A smart investor will learn which clues or signals bode best for the stock.
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Also, management promised that the two companies would maintain the current combined dividend. AMD stock closed the day at an all-time high as investors cheered the news, which isn't surprising as the new business could significantly boost the chipmaker's growth in the long run.
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The price of Bitcoin has largely rallied over the past month. A number of Bitcoin stocks — or companies that have business tied to the cryptocurrency — have followed suit.
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High-profile stock picker Cathie Wood seems to be in the minority category. It was December when healthcare giant Abbott Labs last announced a rate hike. Bloomberg -- Elizabeth Holmes grew so irritated with a probing Theranos Inc.
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