Boeing announced Friday that it will need to cut 4,500 employees this year. Boeing was one of the few employers who added workers throughout last year. The cuts will bring the company's employment figures back to 63,500 about where it began 2008.

Graham's stock tumbled on news that the company expect a short-term decline in orders. Troubles in the financial markets and the plummeting price of oil has slowed the company's orders; however, company executives do not anticipate the slowdown to last long.

Graham reported second quarter results of $0.43per share, just 4 percent than the same quarter a year prior. Declining prices in energy prices have prevented customers from placing orders; however, the company is still planning to meet its forecast 2009 earnings growth rate of 15 to 20 percent. The stock dropped nearly 30 percent on the news.

The machinists union strike ended with a ratified new contract with Boeing Friday ending an eight-week strike. The strike has cost Boeing nearly $100 million a day in deferred revenues as its had to postpone delivery plans of its long awaited 787 jetliner as well as other commercial plans.

Graham, who sells equipment needed by oil refineries, is now having to turn away customers as it continues to try and deal with its massive success over the past year. It's stock has surged over 300% alone in 2007 due to tremendous sales growth due to the rising global demand for oil and chemical products. Graham produces equipment needed by oil refineries and petrochemical plants and supplies some... More

Caterpillar posted growing quarter earnings; however, they missed analysts expectations. Caterpiller also issued warnings lowering its next year earnings outlook suggesting that the houing downturn was spreading to other parts economy. Caterpillars shares dropped over 5%.

James Owens reported Tuesday that the American housing market is in its worst condition since World War II, and that he expects conditions to worsen further next year. Owens announced at an event hosted by the Executives' Club of Chicago that the housing bubble would take time to work through.

Caterpiller declared a 36 cent dividend to be payable on November 20th 2007. This dividend is the same amount as last quarter 20 percent higher then a year ago. Caterpiller has paid quarterly dividends every quarter since 1933. Jim Owens, Caterpiller's CEO, reported the companies strong global footprint and diversified service businesses are producing solid financial returns.

Tuesday, Caterpillar announced plans to manufacture disel engines in China. It should provide the capacity to produce approximately 100,000 disel engines per year. The company said, their plan to produce these engines in China was an indicator to their long-term commitment for the Asian market. Caterpillar is one of many companies that is looking towards the Asian economy for global growth.

The new T-Series John Deere added helps to fill a gap in their current line up. The new T-Series focuses on harvesters with much higher output.

Spirit Aerosystems reported that net income rose 129% and their Q2 earnings rose 96% to 49 cents a share.

Vulcan Materials net revenue dropped to $142 million or $1.45 a share. The company reported that its year ago earnings were to due to a one time sell of contractual rights in the Atlanta quarry. It reiterated that excluding this they would have posted a 16% gain in revenues.

KBR is expected to earn a $3 million dollar increase from modifying its contract for its Nigerian gas-to-liquids project.

Analyst JB Groh of DA Davidson raised the raised his price target on Goodrich to $77 dollars a share while reiterating his "buy" rating.

NEC and Hitachi joined together to develop a silent liquid cooling solution for personal computers. The new system will be released in NEC's fall 2007 line-up.