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Earnings roundup: Ford, Caterpillar

The Associated Press

Among the earnings stories for Wednesday, July 24, from AP Business News:

— Ford Motor Co. reported better-than-expected earnings for the second quarter and raised its profit and sales forecasts for the year as strong U.S. pickup truck demand and growing sales in China offset persistent — but narrowing — losses in Europe.

— PepsiCo Inc. reported a better-than-expected quarterly profit and said its mixed portfolio played a role, underscoring its resistance to splitting up its drinks and snacks businesses.

— Second-quarter earnings at Caterpillar Inc. fell 43 percent as dealers cut inventories more than the company expected. The world's largest maker of construction and mining equipment cut its profit and revenue outlook for the year.