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Deere, Caterpillar Say Health-Care Law to Raise Expenses

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NICE TRY, BUT YOUR SHARES ARE UP ON THIS NEWS
Corporate America weighs in with its dissatisfaction of health care reform, but investors are shrugging it off. "Caterpillar, the world's largest construction machinery manufacturer by sales, was one of the most vocal opponents, and announced late Wednesday that it will take a $100 million charge to earnings this quarter to reflect taxes stemming from the newly enacted U.S. health-care legislation," the WSJ reports. "Farm equipment maker Deere followed suit Thursday with a $150 million charge that, like Caterpillar's, was not included in its existing guidance. Steel maker AK Steel said Tuesday it will record a $31 million charge against first-quarter earnings." Shares of both companies rose.

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