Economic Development

Milwaukee-based Joy Global Inc. announced that it has the sale of the drilling products business of its Houston-based LeTourneau Technologies Inc. business to Houston-based Cameron International Corp. for $375 million.

PrivateBancorp Inc. announced that Jeff Jarecki has joined The PrivateBank as managing director of regional commercial banking in the Milwaukee office.

Milwaukee-based M&I Bank ranks No. 1 in overall satisfaction by small business banking customers, according to the J.D. Power and Associates 2011 U.S. Small Business Banking Satisfaction Study of 24 national banks released.

Mortgage insurer MGIC Investment Corp. posted a net loss of $165.2 million, or 82 cents per share, for the third quarter, compared with a net loss of $51.5 million, or 26 cents per share, in the same period a year ago.

Milwaukee-based Sensient Technologies Corp. reported record third quarter earnings per share of 64 cents, up from 59 cents in the same period a year ago.

Milwaukee-based ManpowerGroup reported third quarter net earnings of $79.6 million, or 97 cents per share, up from $51.3 million, or 62 cents per share, in the same period a year ago.

aterpillar Inc. far exceeded analyst expectations, reporting a 44-percent quarterly earnings increase and record revenue.

Milwaukee-based Bank Mutual Corp. reported third quarter net income of $1.3 million, 3 cents per share, up from $926,000, or 2 cents per share, in the same period a year ago.

Associated Banc-Corp reported third quarter net income of $41.3 million, or 20 cents per share, up from $14.3 million, or 4 cents per share, in the same period a year ago.

Pittsburgh-based PNC Financial Services Group Inc., which has branches in the Milwaukee market, reported third-quarter net income of $826 million, or $1.55 per share, down from $1.09 billion, or $2.07 per share, for the same period a year ago.