A U.S. Senate investigative panel is examining Caterpillar Inc. (NYSE:CAT) and whether the company improperly avoided U.S. taxes by moving profits outside the country, said three people familiar with the inquiry. Rachel Potts, a spokeswoman for Caterpillar, declined to comment. Gordon Trowbridge, a spokesman for Subcommittee Chairman Carl Levin, declined to comment. In 2009, Daniel Schlicksup, an employee who had worked on Caterpillar’s tax strategy, alleged in a lawsuit in federal court that the company used a “Swiss structure” to shift profits to offshore companies and avoid more than $2 billion in U.S. taxes. Caterpillar Inc. (NYSE:CAT) stock opened today at $97.36 and is currently trading at $98.87. The stock showed a positive weekly performance of 1.23%.
Walgreen Co. (NYSE: WAG) reported second-quarter fiscal 2014 results before markets opened Tuesday. The drugstore chain reported adjusted diluted earnings per share (EPS) of $0.91 on revenues of $19.60 billion. In the same period a year ago, Walgreen reported EPS of $0.96 on revenue of $18.65 billion. Second-quarter results also compare to the consensus estimates for EPS of $0.93 and $19.61 billion in revenue.Walgreen Company (NYSE:WAG) stock opened at $65.93, in current trading session and currently is at $66.72, by gaining 3.75%.The 52 week range of $43.31-$69.84. Company’s market capitalization is $63.45 billion.
International Business Machines Corp. (NYSE:IBM) announced that it has been selected by BP (BP) to integrate and manage the company’s business applications globally, as well as provide enhanced service desk support for 60,000 employees and 80,000 devices in the Americas and Europe. End user computing is the face of IT to employees in all corporations. BP wants to provide its employees with greater choice and flexibility in interacting with its service desk, in order to improve first-time problem resolution rates. The IBM solution is focused on providing a personal service that gives an individual choice on how and when to get help. Enhancements will include new services such as live online chat whereby employees can engage the help desk in real time and in their local language through a live agent or through BP’s self-help web portal. The self-help portal leverages IBM’s knowledge base, deep analytics of IT incidents and natural-language search capabilities to rapidly deliver the most relevant results and reduce the need for on-site support. International Business Machines Corp. (NYSE:IBM) stock is currently trading at $191.69 .The EPS of the stock is 15.07. Company’s market capitalization is $199.52 billion.
The stock price of Netflix, Inc (NASDAQ:NFLX) plummeted nearly 7% to $378.90 per share on report that Apple Inc (NASDAQ:AAPL) is in talks with Comcast Corporation (NASDAQ:CMCSA) regarding a partnership to offer a streaming television service using the tech giant’s set-top box. Apple Inc. (NASDAQ:AAPL) stock opened the session at $541.50, and now is at $542.68. The 52 week range of the AAPL stock remained $385.10-$575.14 and the day range was $540.27-$544.00.