VIDEO: Staples Closing Stores in New Strategic Plan

Staples (NASDAQ:SPLS) announcing a slew of store closures to begin a new strategic business plan. The office products company announced it will be speeding up 15 closures in the U.S. and plans on closing 45 stores and some delivery businesses in Europe.Staples says the plans will help promote growth as well as heighten the customer experience. The company expects the closures could result in charges of $145 million to $195 million by the end of fiscal 2012.Currently, Staples stock is falling on this news. Shares of the company are trading over 2 percent lower to $12.04.

VIDEO: Caterpillar Cuts 2015 Profit Forecast

Caterpillar (NYSE:CAT) lowered its profit forecast for 2015 to $12 to $18 per share, from $15 to $20 per share previously. The construction equipment maker also lowered its revenue projection to between $80 billion and $100 billion.The company said the reason for the cut in forecast was due to the slower-than-expected growth in the global economy. For the current year, the company says it sees revenue to come in about $2 billion below its previously projected range of $68 billion to $70 billion.Caterpillar’s stock not fairing well so far in today’s trading. Shares of the company are down 2 percent to $88.83.

VIDEO: Daily Wrap: September 26, 2012

The markets made a bit of a recovery from the lows of the day but remained in negative territory amid lackluster economic data and ongoing concerns over the euro zone. The Commerce Department said that new home sales edged down 0.3 percent to a seasonally adjusted 373,000-unit annual rate, falling short of economists’ expectations.