Global bellwether Caterpillar (Fortune 500) kicked off a busy week of corporate earnings with a disappointing outlook, even as its quarterly results came in better than expected. ,
The heavy equipment manufacturer said it expects to earn between $9 and $9.25 per share on sales of about $66 billion in 2012. Analysts surveyed by Thomson Reuters had predicted full-year earnings of $9.40 per share on sales of $67 billion.
Despite the negative guidance, Caterpillar earned $2.54 per share in the third quarter, topping analysts' expectations.
U.S. stocks fell Friday, the worst day on Wall Street since June, following a slew of weak earnings reports.
Analysts at S&P Capital IQ predict third-quarter earnings for companies in the S&P 500 will grow by just 0.04% overall this quarter, the worst since the third quarter of 2009.
Companies: DISH Network (Fortune 500) reached an agreement with Voom HD Holdings, which owns Cablevision and AMC Networks, on Sunday. , DISH agreed to pay $700 million in cash to settle a dispute over wireless multichannel video distribution and data service licenses.
BP ( said Monday it was in "advanced discussions" on a deal that would result in the sale of 50% of its Russia-based assets t )o Rosneft, a state-owned oil and gas company.
Hasbro ( reported third-quarter earnings of $1.24 per share, down from $1.27 per share in the same period last year. Excluding foreign exchange costs, the toymaker said it made $1.28 per share. )
Genealogy website Ancestry.com ( announced plans to be taken over by an investor group led by private equity firm Permira. The cash transaction values Ancestry.com at $1.6 billion, or $32 per share. Shares surged 8% ahead of the bell. )
Halcón Resources ( announced a $1.4 billion deal with Petro-Hunt to develop a stake in North Dakota's gas-rich Bakken and Three Forks region. )
Oil for November delivery rose 17 cents to $90.22 a barrel.
Gold futures for December delivery gained 5 cents to $1,724.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 1.81% from 1.77% late Friday.
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