Business News

It is an earnings buffet.

Mattel released Q4 results and sales fell 6% to $1.99 billion and a poor holiday sales period. After reporting, Barbie-maker Mattel's CEO Bryan Stockton got fired and will be replaced by Christopher Sinclair, a long-time board member and former Pepsi executive. There's more bad news ahead: Mattel is losing its merchandising license for the wildly popular Disney animated film "Frozen" to rival Hasbro next year. (CNN Money)

Construction and mining equipment maker Caterpillar reports lower profits of $757 million, down nearly 25% from $1.03 billion a year earlier. The decline is due primarily to the recent drop in the price of oil and lower prices for copper, coal and iron ore. (Reuters)

Procter & Gamble, the world's largest household products maker, reported an about 31% fall in quarterly profit, hurt by a stronger dollar. The maker of Pampers diapers and Tide detergent said net sales fell 4.4% to $20.2 billion, but sales rose 2% on an organic basis. P&G derives roughly two-thirds of its revenue outside the United States. (Reuters)

3M, the maker of Scotch tape and Post-it notes, reported a 7% increase in fourth-quarter profit as sales rose across its businesses and the company reaffirmed financial targets for 2015. Sales rose 2% to $7.72 billion. (Reuters)


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