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Stock Market & Financial Investment News

News Breaks
January 27, 2013
14:21 EDTCAT, YUM, CLF, CMI, XOM, BTUChina December industrial profits up 17.3%, Reuters says
Official data shows profits from China's industrial companies are up 17.3% percent in December year over year to 895.2B yuan ($143.91B) as a fourth quarter recovery offset poor Q3 data, says Reuters. Reference Link
News For CAT;YUM;CLF;CMI;XOM;BTU From The Last 14 Days
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July 14, 2014
08:15 EDTCLFCliffs Natural recommends voting WHITE proxy card
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07:43 EDTCATGE far ahead of Caterpillar in race for cleaner diesel train, WSJ says
Caterpillar (CAT) has fallen far behind in the race to offer a locomotive that meets stricter emission standards taking effect next year, with its Electro-Motive Diesel unit stating that its freight trains probably won't be available until 2017, while General Electric (GE) is already testing trains that comply with the new rules, reported The Wall Street Journal. Reference Link
07:36 EDTYUMYum! Brands should be bought ahead of Q2 results, says Stifel
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July 11, 2014
06:13 EDTYUMTaco Bell to launch new high-end menu, Business Insider reports
Yum! Brands' Taco Bell is launching a high-end menu that's rich in protein and low in calories, reports Business Insider. The menu, called the Cantina Power Menu, will come with all-white-meat chicken or grilled USDA-select steak that could have more than 20 grams of protein or fewer than 500 calories. The menu will launch on July 17. Reference Link
July 10, 2014
17:02 EDTYUMCosi names Scott Carlock as CFO
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13:46 EDTXOMExxon feels singled-out in regards to fracking, WSJ says
Exxon Mobil is up against a criminal lawsuit over a wastewater spill in Pennsylvania and is saying that the state's attorney general has incorrectly singled it out in an effort to stop fracking, according to The Wall Street Journal, citing comments from Attorney General Kathleen Kane. Lawyers are saying that Exxon unit, XTO Energy, is criminally responsible for a large leak of water that had been used in hydraulic fracturing, or fracking, in north-central Pennsylvania four years ago. Reference Link
12:23 EDTCLFCasblanca Capital condemns Cliffs Natural's compensation practices in letter
Casablanca Capital LP, the beneficial owner of approximately 5.2% of Cliffs Natural Resources, issued a letter to shareholders in connection with Casablanca’s campaign for fundamental change at Cliffs and its nomination of six director candidates for election to the Board of Directors at the company’s upcoming 2014 Annual Meeting of Shareholders on July 29. In the letter, Casablanca details escalating management compensation while shareholder returns have plummeted, the opaque nature of the management bonus and review process, and the ways in which bonus compensation metrics have changed from year to year in an apparent effort by the Cliffs Board to justify management bonuses despite severe underperformance. Casablanca reiterates that, in contrast to the current 0.3% of Cliffs shares that the current Board and management team owns, Casablanca has economically aligned itself with the interests of fellow shareholders, with Casablanca owning 5.2% of Cliffs shares and with Lourenco Goncalves’ personal investment of $1.5M in Cliffs’ shares. Donald Drapkin, Chairman of Casablanca said, “The Cliffs Board and management team have been pursuing their own personal agendas and enrichment at the expense of shareholders for far too long. It is time for the gravy train to end and for the Board to be held accountable. We are confident that on July 29 Cliffs’ shareholders will vote to support a slate of new directors who will reverse the outrageous value destruction and stop the pattern of excessive compensation and self-dealing at Cliffs.”
08:35 EDTCLFBofA/Merrill steel analysts hold an analyst/industry conference call
Global Steel Analysts review market conditions in Asia, Europe and the U.S. and discuss recent price moves in iron ore, met coal and global steel on an Analyst/Industry conference call. Covered companies AKS, ATI, CLF, CMC, GGB, MTL, NUE, RS, SCHN, SID, STLD, TX and X may be discussed on the Analyst/Industry conference call to be held on July 14 at 10 am.
July 9, 2014
17:00 EDTCATCommercial Vehicle Group realigns leadership team
Commercial Vehicle (CVGI) realigned its executive leadership team. Under the new structure, Ulf Lindqwister will join CVG, effective August 4, as Chief Administrative Officer. Lindqwister comes to CVG from Caterpillar (CAT). The company also realigned its Aftermarket business, with the North American Aftermarket business now reporting to Pat Miller in his capacity of President of Global Truck & Bus. In connection with these organizational changes, Timo Haatanen, President of Global Aftermarket and Bob Averitt, Chief Information Officer, are no longer with the company.
10:02 EDTCMIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
07:13 EDTCMICummins downgraded to Buy from Conviction Buy at Goldman
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July 8, 2014
16:18 EDTCMICummins appoints Rich Freeland as COO
Cummins announces Rich Freeland will assume the role of President and COO for Cummins, reporting to Tom Linebarger, who will remain Chairman and CEO. In his new role, Freeland will focus on the company's daily operations. Freeland has been the Engine Business President for Cummins since 2010 overseeing development, manufacturing, marketing and sales for the Company's largest business unit.
15:28 EDTCMICummins capital return, lack of revised guidance positive, says Wells Fargo
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15:24 EDTCMICummins dividend raised more than expected by ISI Group
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14:35 EDTCMICummins spikes to highs of session after dividend raise, share repurchase
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14:31 EDTCMICummins raises quarterly dividend 25%, announces $1B share repurchase plan
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08:09 EDTBTUCoal secotr estimates lowered at Morgan Stanley
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07:36 EDTYUMYum! Brands price target raised to $100 from $89 at Oppenheimer
Oppenheimer increased its price target on Yum!, citing upcoming positive earnings catalysts, the likelihood of a multiple increase as appreciation for strengthening sales rises, and the transition of valuation to 2015 estimates. The firm thinks there is little risk that the company's earnings will miss expectations and it reiterates an Outperform rating.
06:22 EDTCATBoeing faces risk to long-term credit if Export-Import Bank is closed, WSJ says
According to a new study by S&P, Boeing (BA) could have to double its financial backing to airline and leasing-company clients over the long term if U.S. lawmakers decide to close the Export-Import Bank, the Wall Street Journal reports. S&P says that a significant expansion of its direct loans and guarantees risks harm to Boeing's long-term credit rating. Other manufacturers, like United Technologies (UTX), Caterpillar (CAT) and General Electric (GE), also face risks should the bank be eliminated. Reference Link
05:35 EDTXOMTechnip awarded renewal of framework agreement by Statoil, Exxon Mobil, Gassco
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