Caterpillar, GE, & McDonald’s Report Rising Profits

Posted July 22nd, 2011 at 11:35 am (UTC-5)
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The world's largest construction and mining equipment company, Caterpillar, reported a 44 percent increase in profits Friday.

While second quarter earnings grew, they fell short of Wall Street expectations and the stock price declined after the report.

Caterpillar said its expected sales and profits were hurt by Japan's multiple disasters and slowing demand in China.

GE saw its stock price rise after reporting an 18 percent increase in profits, which was better than analysts had predicted. GE's second quarter earnings were more than $3.7 billion.

The huge conglomerate makes everything from loans to jet engines, so its financial performance gives analysts some clues about the overall health of the economy.

The world's largest chain of fast food restaurants, McDonalds, reported a 15 percent increase in profits, earning $1.4 billion in the second quarter.

The company says customers liked improved coffee, some healthier food choices, and free wifi in the restaurants.