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Stock Market & Financial Investment News

News Breaks
January 28, 2013
12:39 EDTCAT, KERX, MW, HES, JOSBOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as some positive durable goods data was offset by disappointing news about pending home sales in December. The Nasdaq was able to rise about 0.3% while the Dow and S&P lagged, but were not far in negative territory... ECONOMIC EVENTS: In the U.S., orders for durable goods rose 4.6% in December to a seasonally adjusted $230.74B, versus an expected increase of 2.0%. The Pending Home Sales report for December showed a decline of 4.3%, versus expectations for no change from the prior month. Also, over the weekend, China's National Bureau of Statistics released figures that showed industrial earnings grew 20.4% in Q4 after negative growth over the first three quarters of the year... COMPANY NEWS: Caterpillar (CAT) shares were up about 2% near noon in spite of reporting headline sales and profit figures that missed consensus and providing guidance for the upcoming year that spans a wide range of possible outcomes. The company's Q4 reported EPS of $1.04 missed the consensus forecast of $1.70, but included a previously disclosed charge of $580M, or 87c per share, for a writedown of a subsidiary. The company said it expects FY13 EPS anywhere between $7.00 to $9.00 and gave a similarly wide range of projected sales for the upcoming year, citing uncertainty in the global economy... MAJOR MOVERS: Among the notable gainers was Hess (HES), which rose 5% after the company said it has hired Goldman Sachs (GS) to pursue a sale of its terminal network. Hess also announced it has completed its exit of the refinery business and that shareholder Elliott Associates may seek to acquire additional Hess shares valued at more than $800M. Also higher was Keryx Biopharmaceuticals (KERX), which jumped over 73% after the company's successful top-line results from a long-term study of one of its drugs prompted research firms Brean Capital, Roth Capital and Maxim to raise their price targets on Keryx shares. Among the noteworthy losers was JoS. A. Bank (JOSB), which tumbled nearly 18% after warning that its FY12 net income would likely drop about 20% compared with the previous year. Also lower after its announcement were shares of fellow suit retailer The Men's Wearhouse (MW), which fell more than 6%... INDICES: Near noon, the Dow was down 11.18, or 0.08%, to 13,884.80; the Nasdaq was up 9.22, or 0.29%, to 3,158.93; and the S&P 500 was down 1.54, or 0.10%, to 1,501.42.
News For CAT;HES;KERX;JOSB;MW From The Last 14 Days
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July 1, 2015
07:05 EDTMWMen's Wearhouse names Bruce Thorn as COO
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June 25, 2015
07:37 EDTCATExecutives' Club of Chicago to hold a discussion
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June 22, 2015
17:46 EDTCATCaterpillar to lay off 50 more workers in East Peoria, Reuters says
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June 18, 2015
11:31 EDTCATCaterpillar trends appear negative for Cummins, says Wells Fargo
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09:15 EDTCATCaterpillar reports retail machines sales down 12% in three months end May
Caterpillar reported in a regulatory filing that its total retail machines sales were down 12% on a three month rolling basis in May. For reference, retail sales of machines were down 11% in the period ending in April and were down 12% in the period ending in March. The company reported world Resources Industries sales down 8% in the May period, which was better than the 9% drop in the April end period. Construction Industries world sales were down 14%, worse than the 12% drop in the April period. Total Energy & Transportation Retail Sales were down 6% in the May end period, which was better than the 8% decline seen in the April period.
08:59 EDTCATCaterpillar and Modustri to collaborate on equipment monitoring technology
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