Lots of earnings this morning so let’s get too it.
The big brown truck, United Parcel Service, saw a fall in profits of 6% and a rise in sales of 3% in Q1. UPS also announced a price increase of 4.4%. (Market Wire)
Caterpillar gave the market a positive upside surprise in Q1 as they beat estimates and raised expectations for the entire year. The company posted a profit of $922 million up 5% from last year. Cat CEO Doug Oberhelman took a 33% pay cut last year due to underperformance. (CNBC)
The 3M Company saw profits climb 7% during the quarter. 3M says higher sales and profits were led by growth in its health care business. The company says growth in China will be super-sized over the next five years. (Associated Press)
The price of your beer could be going up due to government regulation. Brewers who distribute used grain from manufacturing to be used as animal feed would now be classified as animal feed manufacturers. This would force them to spend millions of dollars to dry and bag their byproduct before being used. No problems have been reported using the current system that is great recycling and dual use of grains for both man and beast. (Oregon Live)