U.S. stocks ended mostly lower on Friday but the Nasdaq ended in positive territory to close at a record high for the fifth consecutive session.
Caterpillar Inc, which makes machinery for the construction, mining and oil and gas industries, suspended operations in its manufacturing facilities in Russia in 2022, joining a number of foreign companies that halted business in the country after Moscow's February 2022 invasion of Ukraine. Russian President Vladimir Putin approved the purchase of Caterpillar's assets by a company called PSK-New Solutions in November 2023. Putin's decree and Russian company filings did not disclose terms of the deal.
The heavy machinery company has a bright future, but is it a good value right now?