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Stock Market & Financial Investment News

News Breaks
April 7, 2013
17:27 EDTCAT, JOYCaterpillar layoffs underscore mining's weakness, FT says
Caterpillar's (CAT) recent announcement that it plans to cut about 2,000 jobs is yet another sign of how weakness in the global mining industry and low commodity prices are hurting heavy industry, says the Financial Times. Low natural gas prices which have curtailed coal mining and the industrial slowdown in China are cited by FT as two reasons for the mining slowdown which is impacting companies like Caterpillar and Joy Global (JOY). Reference Link
News For CAT;JOY From The Last 14 Days
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April 20, 2014
16:53 EDTCATCaterpillar looks to halt production at facility in France, WSJ says
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April 11, 2014
16:26 EDTJOYJoy Global acquires certain assets of Mining Technologies International
Joy Global announced that it entered into a definitive agreement to purchase certain assets of Mining Technologies International for $51M Canadian dollars. MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and a world leading supplier of raise bore drilling consumables. The company is acquiring substantially all of the assets associated with MTIís hard rock drilling, loaders, dump trucks, shaft sinking, and raise bore product lines. MTI's fiscal 2013 revenues associated with these product lines were approximately $90M U.S. dollars. Excluding the impact of transaction costs and excess purchase accounting charges, the company expects the transaction to be accretive to earnings in 2015. Completion of the transaction is subject to customary closing conditions and is expected to occur within 90 days.
April 9, 2014
09:33 EDTCAT, JOYBofA/Merrill's industrial/mining analysts hold analyst/industry conference call
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April 6, 2014
18:07 EDTCATCaterpillar likely to face more IRS pressure, WSJ says
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