Caterpillar A Part Of Positive Day On Wall Street: Acadiana Business Index
Wall Street rises on a slew of merger announcements and strong results from Caterpillar, while the Dow Jones Industrial Average added 105 points. Mark Lasseigne has your market report on today's Acadiana Business Index.
- Caterpillar reported strong earnings, as it sees demand continuing for its mining and construction equipment. Caterpillar also guided to the high end of its previous 2011 outlook. CAT up 5% to $91.77.
A list of merger and acquisition deals also supported the market.
- Cigna made a $3.8 billion deal for HealthSpring.
- Oracle said it would buy the cloud-computing firm RightNow Technologies in a deal valued at $1.4 billion.
- Sara Lee sold the majority of its North American coffee and tea operations to J.M. Smucker for $350 million.
- And Mattel agreed to buy HIT Entertainment, which sells the Bob the Builder and Fireman Sam toy lines, for $680 million.
- Crude oil ended at $91.27 a barrel.
- And Gold closed at $1,652 an ounce.