While you were sleeping Revenue in the hurt locker

Mon, 22 Oct 2012

By Margreet Dietz Oct 23 (BusinessDesk) - Wall Street began the week on the same note it ended the previous one as Caterpillar became the latest company to throw cold water on the outlook for corporate profits. Caterpillar warned worldwide growth was easing more than anticipated, which will contain earnings this year and next. Freeport-McMoRan Copper & Gold today reported an unexpected sharp drop in profit – though it expects profit and production to rebound when it taps into higher-grade ore at a key mine in Indonesia during 2013. "These co...

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