Stock Market & Financial Investment News

News Breaks January 18, 2013 17:18 EDT CAT Caterpillar to record $580M goodwill impairment charge in Q4 Caterpillar announced that an internal investigation of its recently acquired company, ERA Mining Machinery Limited, including its wholly owned subsidiary Zhengzhou Siwei Mechanical & Electrical Manufacturing Co.,, commonly known as Siwei, has uncovered deliberate, multi-year, coordinated accounting misconduct concealed at Siwei, located in Zhengzhou, China. Caterpillar's investigation determined several Siwei senior managers engaged in deliberate misconduct beginning several years prior to Caterpillar's acquisition of Siwei. This deliberate misconduct at Siwei will result in a non-cash goodwill impairment charge of approximately $580M, or 87c per share, in Q4. Caterpillar removed several senior managers at Siwei who were responsible for the misconduct and a new leadership team has been put in place. News For CAT From The Last 14 Days Check below for free stories on CAT the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 22, 2013 09:42 EDT CAT Senate Committee on Foreign Relations to hold a hearing The Committee holds a hearing entitled, "Different Perspectives on International Development" with Director of International Governmental Affairs Lane of Caterpillar (CAT) on May 22 at 10:30 am. Webcast Link May 21, 2013 10:22 EDT CAT Caterpillar to resume talks with steelworkers, WSJ says Subscribe for More Information May 20, 2013 10:45 EDT CAT Caterpillar trends were weak in April, says Wells Fargo Wells Fargo notes that Caterpillar's machines sales growth decelerated in April. The firm thinks that modest improvements in the company's overall trends may be mostly offset by North American machines sales deceleration, and it keeps a Market Perform rating on the shares. 09:03 EDT CAT Caterpillar reports Power Systems retail down 5% in 3-months end April Subscribe for More Information 09:01 EDT CAT Caterpillar reports April 3-month rolling period retail machine sales down 9% Subscribe for More Information 07:45 EDT CAT Wunderlich Securities to hsot a summit Subscribe for More Information May 17, 2013 05:21 EDT CAT Caterpillar, Mining Machinery resolve all outstanding issues Subscribe for More Information May 16, 2013 19:01 EDT CAT Caterpillar and Mining Machinery Limited announce settlement agreement Subscribe for More Information May 10, 2013 06:30 EDT CAT Caterpillar, Milwaukee workers' union talks suspended, Reuters says Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.