- Unbeliebable: White House turns Bieber petition response into immigration screed
- Obama signs law denying Iran ambassador’s visa, but says law is ‘advisory’
- Mich. judge to laughing convicted killer: ‘I hope you die in prison’
- Man charged in Kansas City-area highway shootings
- Keystone XL pipeline still on hold after State Dept. decision
- Fla. man charged with killing 16-month-old son to play Xbox undisturbed
- Drones from the deep: Pentagon develops ocean-floor attack robots
- Michigan mayor slaps back atheists’ try to erect ‘reason station’ at city hall
- PHILLIPS: Where is the conservative establishment?
- 7.5-magnitude earthquake shakes southern Mexico
Caterpillar says sales growth continued in July
PEORIA | Caterpillar says global sales of its heavy equipment grew 35 percent in July even though last year’s numbers were strong.
The world’s largest maker of mining and construction equipment provided an update on sales Thursday in documents filed with the Securities and Exchange Commission. In the same period last year, Caterpillar reported a 32 percent increase in sales.
Jefferies & Co. analyst Stephen Volkmann said in a research note the new figures suggest Caterpillar’s profits will be stronger than expected.
Caterpillar said the strongest regions for equipment sales in July were Latin America and Europe, Africa and the Middle East. Those regions reported sales increases of more than 50 percent.
Caterpillar’s sales figures are considered an indicator of the health of the economy, so they are watched closely.
Kerkorian sells 20M shares of MGM Resorts
LOS ANGELES | Billionaire investor Kirk Kerkorian is selling 20 million shares of MGM Resorts International for about $214.9 million, cutting his stake in the casino operator to 22.8 percent.
MGM Resorts said in a regulatory filing Thursday that Mr. Kerkorian’s Tracinda Corp. investment firm sold about 15 percent of its shares in the company for about $10.74 each on Wednesday.
The transaction is expected to be completed Aug. 23.
Mr. Kerkorian was the company’s majority owner as recently as 2009 and remains its largest shareholder with 111.2 million shares. Tracinda said it continues to believe MGM Resorts is a good investment.
MGM Resorts shares fell $1.40, or 12.1 percent, to $10.14 in afternoon trading as the overall market fell.
The company owns casinos in Las Vegas, Macau, China, and around the world.
TWT Video Picks
Women losing coverage under Obamacare, too
- Scalia to students on high taxes: At a certain point, 'perhaps you should revolt'
- Former Ranger breaks silence on Pat Tillman death: I may have killed him
- Special Forces' suicide rates hit record levels casualties of 'hard combat'
- Feds approve powdered alcohol; 'Palcohol' available later this year
- Justice at last: 'Evil woman' outed for grabbing girl's game ball
- Inside China: Marine's comment on islands draws sharp Chinese response
- Army goes to war with National Guard, seizes Apache attack helicopters
- EDITORIAL: Mark Warner running scared?
- Nancy Pelosi washes immigrants' feet in humble Holy Week act then promotes on Twitter
- Harry Reid blasts Bundy ranch supporters as 'domestic terrorists'
Top 10 handguns in the U.S.