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News Breaks
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November 6, 2009
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| 05:05 EDT |  | CAT |
| theflyonthewall.com: | Caterpillar settles lawsuit | | Caterpillar Inc. and the law firm of Schlichter, Bogard & Denton announced they have reached a tentative settlement of Martin, et al. v. Caterpillar Inc., et al., Case No 07-1009. The case involves a dispute over the administration of four 401(k) plans for Caterpillar employees and retirees and is currently pending before Judge Joe Billy McDade of the U.S. District Court for the Central District of Illinois. Under the tentative settlement, which must be approved by an independent fiduciary and Judge McDade, Caterpillar will pay $16.5M. The net proceeds of the settlement, after court-approved attorney's fees and expenses of settlement administration have been deducted, will be allocated to participant accounts and former participants based generally upon the number of years a participant maintained an account balance in one or more of the plans. :theflyonthewall.com |
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February 13, 2012
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| 23:58 EDT | | CAT |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | Jim Cramer said with interest rates making stocks far more attractive than bonds and those rates likely to stay put for years, it would be foolish to pass up the great opportunities stocks are offering simply because investors are worried over things that may or may not happen. Cramer said for stocks like Apple (AAPL) or Pfizer (PFE) or Caterpillar (CAT), all of these issues simply aren't issues and aren't something investors need to be concerned with at a time when stocks are historically cheap. Cramer says, Dell (DELL) is now out of his 'doghouse'. and its now one of the hottest tech turnaround stories. He's pounding the table, recommending Dell," he proclaimed. The company has dramatically lowered costs for its desktop and laptop PCs by 30%. Dell has streamlinined its operations and reducing the size of its supply chain. But the real story is in enterprise, where Dell has made over 17 acquisitions and is now selling its own brand of storage and networking products at dramatically higher margins. Cramer said in this quarter, Dell should deliver an upside surprise. Shares are also ridiculously cheap, said Cramer, trading at just 8.7x earnings with a 5% growth rate. He also praised the company's massive stock buyback program. Continuing with his canine theme, Cramer said there's one stock that is certainly a portfolio's best friend, and that's Petsmart (PETM), the industry leader in pet supplies with a 15% market share thanks to a network of over 1,200 locations in the U.S. and Canada. The company is taking full advantage of the move towards healthy, all-natural pet foods and products. Petsmart is also going all in on pet services as well, offering not only grooming but also a high-end chain of boarding facilities that now totals over 450 locations. Cramer said that Petsmart also has a solid balance sheet. Trading at 18x earnings with the 16% growth rate, Cramer said the stock is not expensive, although he wouldn't chase it at these levels. EXECUTIVE DECISION: Cramer spoke with Gary Evans, chairman and CEO of Magnum Hunter Resources (MHR), a small oil and gas driller with acreage in the Bakken, Eagleford and Marcellus shale regions of the countries. Magnum is growing like crazy, said Cramer, with production up 455% last quarter and proven reserves up 44% over the past six months alone. Cramer said that Magnum, while still small and speculative, is really terrific. He urged viewers to use limit orders when buying in. NO HUDDLE OFFENSE: Cramer said that the move in Apple (AAPL) is all about earnings. He Apple deserves to trade at $550 a share based on its earnings alone, as it is expected to earn $5.50 a share in earnings, yet still trades at less than 10x those earnings. LIGHTNING ROUND: (Bullish) TSM; PX; ARG; MCD; SCCO. (Bearish) S. Reference Link :theflyonthewall.com |
| | 13:02 EDT |  | CAT |
| theflyonthewall.com: | Obama proposes doubling transportation spending in six years, Bloomberg reports | | President Obama's budget would almost double federal spending on transportation programs over the next five years, according to Bloomberg.The budget proposes spending $476B through 2018 on highway, bridge and mass transit projects, the news service added. Reference Link :theflyonthewall.com |
| | 06:58 EDT | | CAT |
| theflyonthewall.com: | House GOP facing tough vote on transportation bill, The Hill says | | House Republican leaders are having trouble finding enough votes to pass their $260B transportation spending bill, according to The Hill. House Speaker John Boehner said he hopes the bill will pass, the publication added. Reference Link :theflyonthewall.com |
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February 10, 2012
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| 09:02 EDT | | CAT |
| theflyonthewall.com: | Caterpillar appoints Tom Frake as VP of Marine & Petroleum Power Division | | Caterpillar announced that Richard Case, vice president with responsibility for the Marine & Petroleum Power Division, has elected to resign from the company to pursue other opportunities. Case's departure from Caterpillar will be effective May 1. Caterpillar's board of directors has appointed Tom Frake to replace Case as vice president, Marine & Petroleum Power Division. Frake's appointment is effective April 1. :theflyonthewall.com |
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February 6, 2012
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| 20:16 EDT | | CAT |
| | 12:32 EDT | | CAT |
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February 3, 2012
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| 12:12 EDT | | CAT |
| theflyonthewall.com: | Caterpillar subsidiary to close plant | | Caterpillar subsidiary Progress Rail Services Corporation announced this morning its decision to shut down locomotive production operations at its London, Ontario plant. The company stated it is regrettable that it has become necessary to close production operations at the London facility. The cost structure of the operation was not sustainable and efforts to negotiate a new, competitive collective agreement were not successful, the company said. Progress Rail's global manufacturing network assures its customers that delivery schedules will not be impacted by this decision, it added. :theflyonthewall.com |
| | 05:36 EDT | | CAT |
| theflyonthewall.com: | Caterpillar CFO sees "tailwind" from U.S., European demand, Bloomberg reports | | Caterpillar CFO Ed Rapp says he believes the business cycle is in the early stages of recovery and sees a "tailwind" from demand in the U.S. and Europe, Bloomberg reports. Reference Link :theflyonthewall.com |
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February 1, 2012
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| 22:21 EDT | | CAT |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | Jim Cramer said Wednesday's markets gave investors so many ways to win and better yet, it gave it when investors were least expecting it. Whirlpool (WHR) was able to beat and raise estimates, all while most investors thought the housing market was still declining. He said that Boeing (BA) shares were able to trade higher, despite defense cutbacks in Washington. And Navistar (NAV) also ticked higher on news of its partnership with Clean Energy Fuels (CLNE). Then of course there was the announcement of the Facebook IPO, a deal that's so hot investors are even buying up shares of the underwriters. In technology, Cramer admitted that Amazon.com (AMZN) disappointed, but the markets also has a surprise beat from disk drive maker Seagate (STX), which rose 21% in a single day. Internationally, the markets received news that China's economic soft-landing is indeed happening, something that bodes well for companies levered to China like Caterpillar (CAT), Yum Brands (YUM) and Coach (COH), the latter two hitting 52-week highs Wednesday. Put all of these factors together, said Cramer, and its easy to see why he's so excited about the possibilities. Cramer opined on what to do with Amazon.com (AMZN) after the company's disappointing earnings. His conclusion? Don't do anything. Cramer said Amazon has proven to be a consistent winner on weakness, and selling shares after a sell-off has always been a terrible bet. He concluded that Amazon is a "wait-and-see" situation. For Wednesday's installment of his "Show Off Stocks" series, Cramer highlighted motorcycle legend Harley Davidson (HOG), which is seeing demand for its product grow at the fastest pace since 2005. The company is diversifying its customer base and now aggressively attracting younger riders, as well as women and minorities. Additionally, Harley is completing a major restructuring this year that will shave $325M a year off the company's cost structure. Trading at just 13.5x earnings with a 14.5% long-term growth rate, Cramer said shares of Harley Davidson are far too cheap. EXECUTIVE DECISION: Cramer checked in with David Demshur, chairman, president and CEO of Core Labs (CLB), an oil service technology company that Cramer said is the one to buy. Among the areas Demshur was most excited about were deep water drilling off of Brazil and Angola as well as projects in the Middle East and off the coast of Australia. He said Core Labs believes in long-term shareholder appreciation and will remain committed to the company's dividend and stock re-purchase program. Cramer continued his recommendation of Core Labs and again told investors to use the weakness which occurs after every earnings release to buy in. LIGHTNING ROUND: (Bullish) URI; AAPL; LSI; MX; AVAV; KFN. (Bearish) RIMM; BX. Reference Link :theflyonthewall.com |
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January 31, 2012
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| 06:47 EDT | | CAT |
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