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General Motors Co on Thursday posted lower quarterly profit after a massive recall due to defective ignition switchs linked to at least 13 deaths, but results still topped Wall Street expectations on strong pricing for its vehicles, especially in North America. Excluding a charge mostly for the devaluation of the Venezuelan currency, GM earned 29 cents a share, far better than the 4 cents analysts expected, according to a poll by Thomson Reuters I/B/E/S. Some GM ignition switches can make vehicle engines stall while operating, stop airbags from deploying, and power steering and power brakes from operating.
Caterpillar's first-quarter earnings climbed 5 percent and the construction equipment maker raised its 2014 forecast. But the company also says a mining equipment sales slump is still hurting results.