On Friday, Caterpillar Inc. (NYSE:CAT)’s shares inclined 0.13% to $86.83.
Trade Promotion Authority (TPA), a critical tool long absent from United States trade negotiations, cleared its final hurdle before being sent to President Obama. Passing the Senate with bipartisan support, TPA is a linchpin that will provide U.S. trade negotiators with the strongest possible negotiating position as the U.S. seeks to expand trade with Europe, the Asia-Pacific Rim and developing countries. While Caterpillar (CAT) played a leadership role in support of TPA, a key difference-maker was the engagement of Caterpillar employees.
Caterpillar’s employees and suppliers demonstrated their understanding of how essential trade is to Caterpillar’s ability to grow and delivered that message to Washington. The Trans-Pacific Partnership, the Transatlantic Trade and Investment Partnership and other agreements create opportunities to enhance Caterpillar’s exports. During the past five years, Caterpillar has exported nearly $88 billion of products from the United States; during the same period more than half of the company’s U.S.-made products have been sold overseas.
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. The company’s Construction Industries segment offers backhoe, small wheel, skid steer, multi-terrain, compact track, medium and compact wheel, and track-type loaders; mini, wheel, and track excavators; track-type tractors; and select work tools, motor graders, telehandlers, soil compactors, and pipelayers, in addition to its related parts for the heavy and general construction, rental, mining and quarry, and aggregates markets. Its Resource Industries segment provides electric rope and hydraulic shovels; draglines; drills; highwall and longwall miners; hard rock vehicles; articulated, large mining, and off-highway trucks; large wheel loaders; wheel tractor scrapers; wheel dozers; machinery components; and electronics and control systems for use in mining and quarry applications.
Cabot Oil & Gas Corporation (NYSE:COG)’s shares gained 0.22% to $31.98.
Cabot Oil & Gas Corporation (COG) will host its second quarter 2015 earnings conference call on Friday, July 24, 2015 at 9:30 a.m. Eastern Time. The Company plans to issue its financial and operating results prior to the market opening on the same day.
Cabot Oil & Gas Corporation, an independent oil and gas company, develops, exploits, explores for, produces, and markets natural gas, oil, and natural gas liquids in the United States. The company primarily focuses on the Marcellus Shale in northeast Pennsylvania with about 200,000 net acres in the dry gas window of the play; and the Eagle Ford Shale in south Texas with about 89,000 net acres in the oil window of the play. It also transports, stores, gathers, and purchases natural gas for resale.
At the end of Friday’s trade, Lee Enterprises, Incorporated (NYSE:LEE)‘s shares dipped -3.89% to $3.21.
Lee Enterprises (LEE), a leading provider of news, information and advertising in 50 markets, declared that the company has repaid, in full, the 9% Senior Notes issued by its auxiliaries St. Louis Post-Dispatch LLC and Pulitzer Inc. (the “New Pulitzer Notes.”)
The New Pulitzer Notes, which were issued in connection with the refinancing of $94 million of debt in May 2013, were due April 3, 2017. The notes were held by BH Finance LLC, a partner of Berkshire Hathaway Inc., and had a balance of $9 million on March 29, 2015, the end of the last fiscal quarter.
Mary Junck, chairman and chief executive officer, attributed the early pay-off to the company’s strong performance and substantial cash flows.
Lee Enterprises, Incorporated provides local news and information, and advertising services primarily in the Midwest, Mountain West, and West regions of the United States. It publishes 50 daily and 38 Sunday newspapers, 300 weekly newspapers, and classified and niche publications in 22 states, in addition to provides news stories on Websites, mobile devices, and tablets; and provides retail, classified, national, and digital advertising services.
Macquarie Infrastructure Corp (NYSE:MIC), ended its Friday’s trading session with -1.82% loss, and closed at $84.76.
Macquarie Infrastructure Corporation (MIC) declared that Liam Stewart has been seconded by the Company’s manager, Macquarie Infrastructure Administration (USA), to serve as chief financial officer of MIC effective June 30, 2015. The MIC board of directors has simultaneously approved the secondment and elected Stewart chief financial officer.
Stewart succeeds Todd Weintraub who was employed by Macquarie and seconded to MIC in May of 2005. Weintraub was designated chief financial officer of the Company in November of 2008.
Stewart joined Macquarie and has worked with MIC since April of 2014 serving as asset director for MIC’s Atlantic Aviation business since that time. In addition, he has led various holding company level projects counting the build out of MIC’s Contracted Power and Energy segment.
Macquarie Infrastructure Company LLC, through its auxiliaries, owns, operates, and invests in infrastructure businesses that provide services to businesses and individuals primarily in the United States. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power and Energy (CP&E), and Hawaii Gas. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, various chemicals, renewable fuels, and vegetable and animal oils at 10 marine terminals in the United States and 2 marine terminals in Canada.
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