January 29, 2013 at 09:20 AM EST
Stock Upgrades: Caterpillar Pays in Peoria
Taking the advice of an iconic sitcom to heart the S&P 500 (^GSPC) decided that Eight Is Indeed Enough. The index snapped an eight-session winning streak its best showing in eight years. Eight is a famously fortunate number in China of course and Caterpillar’s (CAT) luck is certainly in despite taking a $580 million charge amid “deliberate accounting misconduct” in that country. (Bookkeeping hanky panky in Bejing? Surely not. Next they’ll be telling us Athens occasionally fudges its figures.) The pride of Peoria upgraded this morning added 1.96% yesterday to best all blue chips. Sony (SNE) whose James Bond flick Skyfall is now the ...
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