Page 25 - ARUBA TODAY

BUSINESS Friday 27 January 2017
A25

US stock indexes drift mostly lower; Dow ekes out gain

points, or 0.1 percent, to sized up the latest compa-
2,296.68. The Nasdaq slid ny earnings news.
1.16 points, or 0.02 percent, Several companies got a
to 5,655.18. The Dow rose boost after they reported
32.40 points, or 0.2 percent, results that exceeded Wall
to 20,100.91. Street’s expectations, in-
Small-company stocks did cluding Sherwin-Williams.
worse than the rest of the The paint and coatings
market. The Russell 2000 lost company also said it ex-
6.84 points, or 0.5 percent, pects to complete its $11.3
to 1,375.60. billion purchase of Valspar
It’s been a record-making within 90 days after making
week on Wall Street. The a relatively small divestiture.
S&P 500 index and Nas- The stock gained $21.58, or
daq composite closed at 7.6 percent, to $305.
all-time highs on Tuesday Traders welcomed an op-
and Wednesday. The Dow, timistic 2017 forecast and
which tracks 30 major in- good bookings from Royal
dustrial companies, added Caribbean Cruises. The
its own milestone Wednes- cruise operator’s stock
day after it breached the jumped $7.97, or 9.1 per-
20,000 mark for the first cent, to $95.64.
time. New Commerce Depart-
The market is getting a ment data indicating sales
Screens for the Nasdaq Composite and Nasdaq-100 are displayed at Nasdaq, Thursday, Jan. 26, boost from strong com- of new U.S. homes fell
2017, in New York. The Dow Jones industrial average inched further into record territory Thursday, pany earnings and inves- 10.4 percent in Decem-
eking out a gain while the broader U.S. market indexes drifted lower. tor optimism that the Trump ber didn’t weigh on Pulte-
(AP Photo/Mark Lennihan) administration’s policies on Group.
ALEX VEIGA posite posted small losses, report cards continued taxes, regulation and trade The homebuilder’s quar-
AP Business Writer snapping two days of con- to be a focus for investors will be good for business. terly earnings and sales
The Dow Jones industrial secutive record highs. Thursday. On Thursday, the stock in- beat financial analysts’ es-
average inched further More stocks fell than rose “Earnings have come in dexes wavered between timates, lifting its shares 74
into record territory Thurs- on the New York Stock Ex- strong, for sure,” said Patrick small gains and losses for cents, or 3.6 percent, to
day, eking out a gain while change. Financial stocks Schaffer, global investment most of the day as investors $21.18.q
the broader U.S. market in- led the gainers, while specialist, J.P. Morgan Pri-
dexes drifted lower. health care companies vate Bank. “The market
The Dow’s gain came a lagged the most. continues to digest some of
day after closing above With about 30 percent of the earnings news, and ob-
20,000 for the first time. the companies in the S&P viously markets don’t go up
The Standard & Poor’s 500 500 index serving up earn- or down in a straight line.”
index and Nasdaq com- ings this week, the quarterly The S&P 500 index fell 1.69
Caterpillar posts 4Q loss, trims 2017 outlook

PEORIA, Ill. (AP) — Cater- pected. said that it had to slightly
pillar’s fourth-quarter loss Revenue declined to $9.57 lower its expectations due
widened, dragged down billion from $11.03 billion, to the strengthening of the
by three hefty charges and missing the $9.75 billion in U.S. dollar over the last two
higher-than-expected re- revenue that Wall Street months.
structuring costs. expected. The company predicts a
Its adjusted profit beat Wall Caterpillar CEO Jim Umple- 2017 adjusted profit of ap-
Street’s expectations, but by said in a written state- proximately $2.90 per share
its revenue missed expec- ment that the company’s at the midpoint.
tations. The construction quarterly performance Analysts polled by FactSet
and mining company also “continued to reflect pres- expect 2017 earnings of
slightly lowered its 2017 rev- sure in many of our end $3.06 per share on revenue
enue forecast. markets from weak eco- of $37.56 billion.
Shares fell before the mar- nomic conditions around Caterpillar’s stock dropped
ket open on Thursday. much of the world.” $1.04 to $97.11 in premar-
For the three months end- For the year, the Peoria, ket trading.q
ed Dec. 31, Caterpillar Inc. Illinois-based company re-
lost $1.17 billion, or $2 per ported an adjusted profit
share. That compares with of $3.42 per share on rev-
a loss of $94 million, or 16 enue of $38.54 billion.
cents per share, a year ear- Looking ahead, Caterpillar
lier. said that it now anticipates
Stripping out the charges 2017 revenue in a range of
and restructuring costs, $36 billion to $39 billion, with
earnings were 83 cents per a midpoint of $37.5 billion. It
share. Still, that easily beat previously though that rev-
the 65 cents per share that enue of about $38 billion
analysts polled by Zacks was a reasonable midpoint
Investment Research ex- expectation. Caterpillar