Joe Deaux

Business, Technology, Equipment

Caterpillar Sees Housing Boom Leading 2021 Sales Recovery

Caterpillar Luke Sharrett/Bloomberg News

Caterpillar Inc. fourth-quarter earnings beat analysts’ expectations as reopening economies stoked demand for its signature yellow machines. The company said it expects stronger year-over-year sales this quarter, led by construction industries.

Joe Deaux | Bloomberg News
January 29, 2021
Business, Equipment

Deere Raises Outlook With Farm Demand Cushioning Downturn

Deere & Co. has increased its sales outlook for the year. A Deere & Co. combine harvester is used to harvest wheat in Kirkland, Ill., on July 17. (Daniel Acker/Bloomberg News)

Deere & Co., the largest maker of agricultural machinery, increased its sales outlook for the year as farm equipment demand remained resilient despite an “uncertain” market due to the coronavirus pandemic.

Joe Deaux | Bloomberg News
August 21, 2020
Business, Equipment

Caterpillar Sales Drop Highlights Worry of ‘Catatonic’ Recovery

Caterpillar backhoe excavators are displayed for sale at a dealership in Louisville, Ky. Caterpillar backhoe excavators are displayed for sale at a dealership in Louisville, Ky. (Luke Sharrett/Bloomberg News)

Caterpillar Inc.’s machinery sales dropped by the most in 10 years last month in a sign of a deepening slump in its Americas businesses, where the company has extended plant shutdowns.

Joe Deaux | Bloomberg News
June 12, 2020
Business

U.S. Steel Foreshadows Blue-Collar Pain With 2,700 Layoffs

U.S. Steel Steel coils sit outside at the U.S. Steel Granite City Works facility in Granite City, Ill. (Daniel Acker/Bloomberg News)

U.S. Steel Corp. expects to lay off about 2,700 employees as the virus forces the company to idle most of its blast furnaces.

Joe Deaux | Bloomberg News
May 1, 2020
Business, Equipment

Caterpillar Sees Virus Pain Intensifying After Profit Trails

Caterpillar excavators displayed for sale at a dealership in Kentucky on Jan. 27. Caterpillar excavators displayed for sale at a dealership in Kentucky on Jan. 27. (Luke Sharrett/Bloomberg News)

The world’s biggest maker of mining and construction equipment is predicting that the pain from the coronavirus crisis is far from over.

Joe Deaux | Bloomberg News
April 28, 2020
Business, Equipment

Alcoa Cuts Supply and Pulls Outlook for Reeling Aluminum Market

Workers load an aluminum coil onto a loading dock in a Tennessee manufacturing facility in January 2017. Workers load an aluminum coil onto a loading dock in a Tennessee manufacturing facility in January 2017. (Luke Sharrett/Bloomberg News)

One of the most recognizable names in the aluminum market offered little optimism for the industry as it’s rocked by the coronavirus crisis.

Joe Deaux | Bloomberg News
April 23, 2020
Business, Equipment

Caterpillar Posts Worst Machine Sales Since 2016

Caterpillar equipment Callaghan O'Hare/Bloomberg News

In a further indication of the stress rippling through the construction and mining sectors, Caterpillar Inc. reported its biggest decline in global machine sales since the end of 2016.

Joe Deaux | Bloomberg News
March 12, 2020
Business, Equipment

Caterpillar’s 2020 Outlook Adds More Gloom to Markets

Caterpillar backhoe excavators are displayed for sale at a dealership in Kentucky on Jan. 27. Caterpillar backhoe excavators are displayed for sale at a dealership in Kentucky on Jan. 27. (Luke Sharrett/Bloomberg News)

Caterpillar Inc., a worldwide barometer for manufacturing, is warning of more pain to come for the global economy in 2020.

Joe Deaux | Bloomberg News
January 31, 2020
Government, Business

GM Strike Sends Another Knock to Wobbly US Steel Sector

Steel coils sit at an Ohio factory Galvanized steel coils await shipment at ArcelorMittal Steel's hot dip galvanizing line in Cuyahoga Heights, Ohio. (Mark Duncan/Associated Press)

With its midyear recovery already in doubt, the American steel industry now has a little more to worry about with each passing day a strike drags on at General Motors Co.

Joe Deaux | Bloomberg News
October 8, 2019
Business

Aluminum Giant’s CEO Sees Trade War’s Lasting Impact on Use

Aluminum Dhiraj Singh/Bloomberg News

The trade war between the U.S. and China that’s clouded the global growth outlook will have a lasting negative effect on aluminum demand, Norsk Hydro ASA CEO Hilde Merete Aasheim said.

Joe Deaux | Bloomberg News
July 26, 2019

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