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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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April 10, 2015
11:01 EDTCATCaterpillar announces new Analytics & Innovation division
To better capitalize on the growing importance and excitement of data analytics and to drive innovation to support customers, Caterpillar announced the formation of a new division, Analytics & Innovation, which will be led by Caterpillar Vice President Greg Folley. The division will bring together the people and resources that will foster a culture with innovation at the core, form a broad and connected analytics ecosystem and manage strategic third party relationships with providers like Chicago, Illinois-based Uptake, a start-up with which the company recently announced a technology and predictive analytics agreement. Caterpillar will co-locate key employees with the Uptake team in Chicago to accelerate the work needed to create a platform that takes massive amounts of data, combines it with data science to understand patterns and quickly deploys information to save customers money, optimize performance and prevent unplanned downtime. The company is also placing resources in the Silicon Valley and has seeded money in a venture capital fund with the goal of investing in emerging technologies that could further enhance Caterpillar's product and service development. All of these activities under the umbrella of the AI division will complement the innovative work that thousands of Caterpillar employees are already doing around the worldó a trait that has been critical to Caterpillar's success since the formation of the company 90 years ago.
April 8, 2015
15:38 EDTCATCaterpillar nominates Sempra Energy CEO to board
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April 5, 2015
08:43 EDTCATAT&T, Philip Morris, eight others have reliable yields up to 5.7%, Barron's says
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