Another conglomerate, Ingersoll Rand, also beat Wall Street profit estimates this morning.
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Ingersoll Rand ( IR - news - people ) in 2008, has suffered in the sluggish U.S. construction market.
After Macaulay got word at a dinner that Dresser-Rand might be turning around, he approached Ingersoll-Rand with a deal to get the unit off its books without taking a writedown.
With his own factory, Korndorf hopes to catch Ingersoll-Rand's Bobcat brand, the market leader.
Now with his own factory, Korndorf hopes to catch Ingersoll-Rand's Bobcat brand, the market leader.
Most analysts think investors should stand pat on Ingersoll-Rand, with nine of 17 analysts rating it hold.
The majority of analysts think investors should stand pat on Ingersoll-Rand, with nine of 15 analysts rating it hold.
About 5 million shares in industrial goods firm Ingersoll-Rand shares were sold, bringing the position down to 637 thousand.
Ingersoll-Rand, where billionaire Nelson Peltz helped to inspire a spinoff of the security unit expected to close later this year.
In August alone, American International Group, Hershey, Illinois Tool Works, Ingersoll-Rand, Parker-Hannifin, Public Storage and Wachovia all announced dividend increases of more than 10%.
Ingersoll-Rand (IR) is expected to report poor fourth quarter earnings on Friday, February 1, 2013 with analysts expecting a 7.9% drop in earnings from a year ago.
All the asbestos cases were filed in plaintiff-friendly Mississippi, where lawyers wrested hundreds of millions of dollars in settlements from defendants including Halliburton, Ingersoll-Rand, Owens Corning and Georgia Pacific .
Dresser-Rand, the nation's largest maker of gas compressors and turbines for the oil patch, was languishing in the hands of Ingersoll-Rand, the industrial machinery giant that had little interest in hydrocarbons.
He was also the International Controller with Ingersoll-Rand Company.
Meanwhile, companies like General Electric, Kodak, Dow Chemical and Ingersoll-Rand have indicated that they will displace American jobs by supplying the domestic market and markets in other countries with exports from their Chinese factories.
Dresser-Rand, the nation's largest maker of gas compressors and turbines for the oil patch, was languishing in the hands of Ingersoll-Rand (nyse: IR - news - people ), the industrial machinery giant that had little interest in hydrocarbons.
Among the largest underlying components of PKB, in trading today Ingersoll-Rand Plc ( NYSE: IR) is up about 0.5%, Jacobs Engineering Group, Inc. ( NYSE: JEC) is up about 0.3%, and Tutor Perini Corp ( NYSE: TPC) is up by about 1.1%.
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