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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 3, 2015
14:16 EDTCATJoy Global crashes after warning of continued sector pressure
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12:23 EDTCATOn The Fly: Top stock stories at midday
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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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