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Stock Market & Financial Investment News

News Breaks
January 18, 2013
17:18 EDTCATCaterpillar 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
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September 19, 2014
11:11 EDTCATCaterpillar sales trends for August mixed, says Wells Fargo
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09:13 EDTCATCaterpillar reports Machines sales down 10% in three months end August
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September 16, 2014
07:26 EDTCATUltima Media to hold a conference
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September 12, 2014
09:31 EDTCATCaterpillar view lowered to Mixed from Positive at OTR Global
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September 10, 2014
10:00 EDTCATOn The Fly: Analyst Downgrade Summary
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09:14 EDTCATUpdate: Caterpillar downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Caterpillar to Neutral from Buy. The firm downgraded shares to reflect a slowdown in growth outside the U.S., a stronger U.S. dollar, easing ECB monetary policy, slowing Chinese import growth, and recessionary pressures in Brazil. Price target lowered to $121 from $125.
09:04 EDTCATCaterpillar downgraded to Neutral from Buy at BofA/Merrill
07:49 EDTCATLongbow to hold a conference
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