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Stock Market & Financial Investment News

News Breaks
February 22, 2013
07:02 EDTCATCaterpillar upgraded to Outperform from Market Perform at Raymond James
News For CAT From The Last 14 Days
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September 4, 2015
16:21 EDTCATStocks end week lower with September rate hike still a focus of angst
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15:19 EDTCATCaterpillar will reward patient investors, Barron's reports
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10:00 EDTCATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BP (BP) downgraded to Underperform from Neutral at BofA/Merrill... Cameron (CAM) downgraded to Equal Weight from Overweight at Barclays... Caterpillar (CAT) downgraded to Neutral from Outperform at Baird... Ciena (CIEN) downgraded to Hold from Buy at Deutsche Bank... Diana Shipping (DSX) downgraded to Sell from Neutral at UBS... EV Energy (EVEP) downgraded to Underperform from Market Perform at Raymond James... First Connecticut (FBNK) downgraded to Market Perform from Outperform at Keefe Bruyette... NetSuite (N) downgraded to Underperform from Market Perform at Raymond James... Sovran Self Storage (SSS) downgraded to Market Perform at Raymond James... UniCredit (UNCFF) downgraded to Neutral from Overweight at JPMorgan... Vince Holding (VNCE) downgraded to Underperform from Neutral at BofA/Merrill.
09:18 EDTCATOn The Fly: Pre-market Movers
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06:40 EDTCATBaird downgrades Caterpillar on less confidence in bookings rebound
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06:25 EDTCATCaterpillar downgraded to Neutral from Outperform at Baird
September 3, 2015
16:27 EDTCATOn The Fly: Top stock stories for Thursday
Stocks on Wall Street began the session in positive territory thanks in part to dovish comments from the ECB. The averages were helped as well by the fact that the Chinese stock market, the source of so much volatility recently, was closed. The lack of distraction allowed buyers to be empowered and to extend the market's gains from yesterday. By noon, the averages had pared their gains, with the Nasdaq eventually crossing into negative territory. The average drifted near the flatline from there, as investors positioned ahead of tomorrow's jobs report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 282,000 in the week ended August 29, versus expectations for 275,000 first-time claims. The trade balance report showed a deficit of $41.86B for July, versus expectations for a deficit of $42.2B. Markit's services PMI rose to 56.1 for the final August print, versus July's 55.7 and the 55.2 preliminary August reading. ISM's non-manufacturing index dipped to 59.0 in August, but that topped expectations for a reading of 58.2. In Europe, the European Central Bank left its benchmark interest rate unchanged, as expected, and economists at the bank trimmed their eurozone growth projections for this year and through 2017. ECB president Mario Draghi said the bank needs to determine if the recent global volatility is transitory before it decides "whether to do more or not," but also emphasized the bank's "willingness to act, its readiness to act and its ability to act." In Asia, Chinese markets were closed today and will be closed tomorrow for a holiday. COMPANY NEWS: Shares of Joy Global (JOY) plummeted $3.24, or 14.64%, to $18.89 following the company's report of lower than expected quarterly earnings and revenue. Joy's warnings about "one of the most challenging [end market environments] seen in decades" come as mining equipment makers like Caterpillar (CAT), Terex (TEX), and Joy grapple with low commodity prices leading to significantly reduced capital expenditures at mining firms. Shares of Dow member Caterpillar were the worst performer on the blue chip index, slipping 2.17% to $74.45 after Joy said ongoing challenges in commodity markets, along with slowing global economic growth, have "weighed on [its] customers' financial position and [its] incoming order rates." MAJOR MOVERS: Among the notable gainers was B&G Foods (BGS), which advanced $3.55, or 11.66%, to $34.00 after agreeing to purchase the Green Giant and Le Sueur vegetables brands from General Mills (GIS) for roughly $765M. Also higher was Pericom Semiconductor (PSEM), which gained $4.58, or 37.6%, to $16.76 after Diodes (DIOD) agreed to acquire the company for $17 per share. Shares of Diodes were also driven higher after the news, rising 11.8% to $21.89. Additionally, Methode Electronics (MEI) surged $5.43, or 19.82%, to $32.82 after releasing first quarter results and announcing a $100M share repurchase program. Among the noteworthy losers was World Acceptance (WRLD), which declined $2.21, or 5.95%, to $34.92 after Kase Capital's Whitney Tilson reiterated his belief that the stock is going to zero, as reported by ValueWalk. Also lower were Catalent (CTLT) and Five Below (FIVE), which dropped a respective 9.6% and 9.3% following their earnings reports. INDEXES: The Dow added 23.38, or 0.14%, to 16,374.76, the Nasdaq slid 16.48, or 0.35%, to 4,733.50, and the S&P 500 advanced 2.27, or 0.12%, to 1,951.13.
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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