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Stock Market & Financial Investment News

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January 18, 2013
11:13 EDTCATCaterpillar rises after China data, Piper Jaffray upgrade
Caterpillar (CAT) is advancing after China reported better than expected economic data earlier today, and a research firm upgraded the stock. China's fourth quarter GDP growth and its retail sales and industrial output for December all slightly exceeded analysts' expectations. China accounts for only a few percent of Caterpillar's revenue but had been seen as a growth engine for the company before slowing last year. In a note to investors earlier today, Piper Jaffray analyst Alexander Potter upgraded Caterpillar to Overweight from Neutral. Investors' concerns about a build-up of machine inventory in China and shaky demand for mining equipment due to a reduced appetite for raw materials in that country have faded, Potter believes, after conducting extensive research. The better than expected Chinese data and strong U.S. housing starts provide additional support for this thesis, according to the analyst, who raised his price target on Caterpillar to $113 from $85. In late morning trading, Caterpillar rose 0.43% to $96.11.
News For CAT From The Last 14 Days
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August 31, 2015
16:09 EDTCATLongbow to hold a conference
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August 27, 2015
13:46 EDTCATCaterpillar planst to lay off 475 more employees, Reuters reports
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August 24, 2015
09:26 EDTCATCaterpillar set to open near 4-year lows
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August 21, 2015
13:02 EDTCATChanos says heavy equipment companies 'have the wind in their face'
Jim Chanos of Kynikos Associates said on CNBC that the companies selling heavy equipment will "have the wind in their face" for years as inventory is worked though. Chanos added that he remains short shares of Caterpillar (CAT), pointing out the company acquired Bucyrus at the top of the market. Peers of Caterpillar include Deere (DE) and AGCO (AGCO).
12:56 EDTCATChanos says still short shares of Caterpillar
Jim Chanos of Kynikos Associates said on CNBC .

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