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Stock Market & Financial Investment News

News Breaks
April 19, 2013
11:22 EDTCATEarnings Preview: Caterpillar sees Q1 sales, profit down from prior year
Caterpillar (CAT) is expected to report first quarter earnings on Monday, April 22 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 $1.42 on revenue of $13.72B, according to First Call. The consensus range for EPS is $1.20-$1.70 on revenue of $12.53B-$14.65B. LAST QUARTER: Caterpillar reported fourth quarter EPS of $1.04 against estimates for $1.70, though its results included a charge of $580M, or 87c per share. Q4 revenue came in at $16.08B against estimates for $16.12B. In its Q4 report, the company forecast Q1 sales and profit significantly lower on a year-over-year basis. Management said, “While we are not providing a specific sales and profit outlook for 1Q13, we are expecting that they are likely to be significantly lower than 1Q12. The middle of our full-year outlook for sales is about $2B below 2012 levels. We expect that revenue will decline more than $2B in 1Q13 compared with 1Q12. Much of the expected decline in Q1 sales is a result of the continuation of reduced production as dealers are expected to continue to lower their new machine inventories. We expect that dealer inventory reductions will be negative to sales in 1Q13, while in 1Q12 dealers increased inventory which benefited Caterpillar. Profit is also expected to be significantly lower in 1Q13 versus 1Q12—a result of lower expected sales and the negative cost impact of continuing low production levels and declining inventory.” STREET RESEARCH: Street research has been mixed in the weeks leading up to Caterpillar's Q1 earnings report. Sentiment was positive early in the quarter, but turned negative over the past month. On January 29, CLSA upgraded Caterpillar to a Buy from Outperform and raised its price target to $115 from $105. Standpoint Research initiated the shares with a Buy rating and a price target of $105 on March 20. On April 3, Goldman downgraded Caterpillar to a Neutral from a Buy, citing a reduced outlook for iron ore prices and mining equipment capital expenditures. The firm no longer saw upside to consensus estimates given the oversupplied commodity environment and lowered their price target to $101 from $116. PRICE ACTION: Caterpillar’s shares have traded approximately 17% lower since Q4’s results were released in late January. In late morning trading ahead of Monday's Q1 report, Caterpillar’s shares are up 0.2%.
News For CAT From The Last 14 Days
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July 23, 2014
15:30 EDTCATNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
12:59 EDTCATEarnings Preview: Caterpillar shares near 52-week high ahead of Q2 report
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10:47 EDTCATCaterpillar July weekly volatility elevated into Q2 and outlook
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10:44 EDTCATCaterpillar read-through modest negative for Cummins, says Wells Fargo
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10:28 EDTCATCaterpillar reports 3-month end June retail machine sales down 10%
Caterpillar disclosed in a regulatory filing earlier that its total retail sales of machines for the 3-month rolling period ended June were down 10%. In the rolling period, retail machine sales were down 30% in Asia/Pacific, down 21% in EAME, down 18% in Latin America and up 14% in North America. Total energy & transportation retail sales for the 3-month rolling period were down 10%.
July 21, 2014
09:22 EDTCATCaterpillar confident in chances in tax suit, WSJ says
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07:41 EDTCATWhistleblowers allege bogus repairs by Caterpillar unit, WSJ says
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July 20, 2014
11:58 EDTCATCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link
July 14, 2014
07:43 EDTCATGE far ahead of Caterpillar in race for cleaner diesel train, WSJ says
Caterpillar (CAT) has fallen far behind in the race to offer a locomotive that meets stricter emission standards taking effect next year, with its Electro-Motive Diesel unit stating that its freight trains probably won't be available until 2017, while General Electric (GE) is already testing trains that comply with the new rules, reported The Wall Street Journal. Reference Link

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