While you were sleeping Microsoft deal, Caterpillar

Mon, 22 Apr 2013

By Margreet Dietz April 23 (BusinessDesk) - Wall Street advanced, propelled by Microsoft and Caterpillar. Gains in Microsoft shares, last up 4.1 percent, bolstered momentum after reports that ValueAct Capital had taken a US$2 billion stake in the company. Shares of Caterpillar also rose, last up 3.3 percent. While the company reported earnings that fell short of expectations and downgraded its 2013 forecast, investors took heart from CEO Doug Oberhelman's comments that he was encouraged by "stability". The company also said it is reviving it...

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