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Stock Market & Financial Investment News

News Breaks
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 24, 2014
11:19 EDTCATCaterpillar says Q4 likely to be strongest quarter in 2014
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10:25 EDTCATCaterpillar climbs after reporting stronger than expected results
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08:59 EDTCATOn The Fly: Pre-Market Movers
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08:31 EDTCATCaterpillar set fresh 52-week high following results
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08:14 EDTCATCaterpillar expects to deliver better sales, profit in Constuction Industries
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08:13 EDTCATCaterpillar cites range of macro-economic uncertainties that could impact sales
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07:44 EDTCATCaterpillar reports Q1 revenue $713M, up 5% from a year ago
Q1 profit after tax was $136M, a 4% decrease from a year ago. The increase in revenues was primarily due to a $23M favorable impact from higher average earning assets and an $8M favorable impact from returned or repossessed equipment. Reports Q1 new retail financing $2.8B, down 4% from a year ago. The decrease was primarily related to the Mining and Asia/Pacific operating segments, partially offset by improvements in the North America operating segment. As of March 31, 2014, Cat Financial's allowance for credit losses totaled $373 million or 1.25 percent of net finance receivables.
07:33 EDTCATCaterpillar raises FY14 adjusted EPS to $6.10 from $5.85, consensus $5.93
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07:32 EDTCATCaterpillar reports Q1 adjusted EPS $1.61, consensus $1.24
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April 23, 2014
15:35 EDTCATNotable companies reporting before tomorrow's open
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13:40 EDTCATEarnings Preview: Caterpillar sees Q1 revenue flat, year-over-year
Caterpillar (CAT) is expected to report first quarter earnings on Thursday, April 24, before the market open with a conference call scheduled for 11:00 am ET. Caterpillar is a manufacturer of mining and construction equipment. EXPECTATIONS: Analysts are looking for earnings per share of $1.24 on revenue of $13.14B, according to First Call. The consensus range for EPS is $1.03-$1.35 on revenue of $12.34B-$13.74B. LAST QUARTER: Caterpillar reported fourth quarter EPS of $1.54 against estimates for $1.28 on revenue of $14.4B against estimates for $13.64B. On its Q4 earnings report, the company forecast 2014 EPS ex. restructuring costs of $5.85, versus consensus of $5.78. FY14 revenue was seen at $56B, compared to consensus of $55.27B. In total, the company expects restructuring actions in 2014 to be about $400M-$500M and an after tax impact of 50c-60c per share. Caterpillar said it was seeing signs of improvement in the world economy. Despite the company's expectation that mine production will continue to increase, it expects mining companies to further reduce their capital expenditures in 2014. As a result, it expects sales in Resource Industries to decline modestly. The company said it will continue to be cautious on the mining industry. The company announced a $10B stock repurchase program that will expire on December 31, 2018, and it intends to repurchase $1.7B of common stock in Q1. On the company's Q4 conference call, management said it sees Q1 revenue flat with 1Q13. STREET RESEARCH: Sentiment on the Street has been mixed in the weeks leading up to Caterpillar's Q1 report. On February 20, Caterpillar was initiated with a Buy at Deutsche Bank with a price target of $122. Conversely, on March 4, Standpoint Research downgraded Caterpillar to Hold from Buy. PRICE ACTION: Caterpillar’s shares have traded approximately 14% higher since Q4 results were released in late January, and are up about 23% over the past year. In afternoon trading ahead of Thursday's Q1 report, Caterpillar’s shares are nearly flat.
10:51 EDTCATCaterpillar trends may be better than retail sales suggest, says Wells Fargo
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10:44 EDTCATCaterpillar retail sales of machines for 3 months end March down 12%
Caterpillar disclosed in a regulatory filing earlier that its total retail sales of machines for the 3-month rolling period ended March were down 12%, which was down from an 8% decline reported for the 3-month period ended in February. In the March rolling period, retail machine sales were down 20% in Asia/Pacific, down 21% in EAME, down 21% in Latin America and up 6% in North America. Total Energy & Transportation retail sales for the March end rolling period were up 7%.
April 22, 2014
12:24 EDTCATBofA/Merrill industrial machinery analysts hold analyst/industry conference call
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April 20, 2014
16:53 EDTCATCaterpillar looks to halt production at facility in France, WSJ says
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