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Stock Market & Financial Investment News

News Breaks
May 16, 2013
19:01 EDTCATCaterpillar and Mining Machinery Limited announce settlement agreement
Caterpillar and Mining Machinery Limited announced that they have resolved all outstanding issues between them arising out of Caterpillar's acquisition of ERA, including its wholly-owned subsidiary Zhengzhou Siwei Mechanical & Electrical Manufacturing Co. Caterpillar reached this agreement with two former directors of ERA, Emory Williams and John Lee, and two other parties with an interest in the settlement, Mining Machinery Limited and James Thompson III. As part of the resolution of outstanding issues between the parties, Caterpillar's total outstanding obligations of $164.5M to the MML Parties, which were part of Caterpillar's obligations relating to its acquisition of ERA, were reduced by $135M to $29.5M. In addition, Caterpillar and the MML Parties have mutually released all their claims relating to the acquisition of ERA.
News For CAT From The Last 14 Days
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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
July 9, 2014
17:00 EDTCATCommercial Vehicle Group realigns leadership team
Commercial Vehicle (CVGI) realigned its executive leadership team. Under the new structure, Ulf Lindqwister will join CVG, effective August 4, as Chief Administrative Officer. Lindqwister comes to CVG from Caterpillar (CAT). The company also realigned its Aftermarket business, with the North American Aftermarket business now reporting to Pat Miller in his capacity of President of Global Truck & Bus. In connection with these organizational changes, Timo Haatanen, President of Global Aftermarket and Bob Averitt, Chief Information Officer, are no longer with the company.
July 8, 2014
06:22 EDTCATBoeing faces risk to long-term credit if Export-Import Bank is closed, WSJ says
According to a new study by S&P, Boeing (BA) could have to double its financial backing to airline and leasing-company clients over the long term if U.S. lawmakers decide to close the Export-Import Bank, the Wall Street Journal reports. S&P says that a significant expansion of its direct loans and guarantees risks harm to Boeing's long-term credit rating. Other manufacturers, like United Technologies (UTX), Caterpillar (CAT) and General Electric (GE), also face risks should the bank be eliminated. Reference Link

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