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Stock Market & Financial Investment News

News Breaks
January 24, 2014
14:08 EDTCATEarnings Preview: Caterpillar expects Q4 profit lower than Q3
Caterpillar (CAT) is expected to report fourth quarter earnings on Monday, January 27 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 $1.28 on revenue of $13.64B, according to First Call. The consensus range for EPS is $1.20-$1.39 on revenue of $13.16B-$14.11B. LAST QUARTER: Caterpillar reported Q3 EPS of $1.45 against estimates for $1.67. Q3 revenue came in at $13.42B against estimates for $14.32B. On its Q3 report, the company lowered its FY13 EPS and revenue guidance, citing concern about a reduction in mining orders. Caterpillar cut its FY13 EPS view to $5.50 from $6.50, compared to a consensus at the time of $6.20. Its FY13 revenue view was lowered to $55B from $56B-$58B, versus a consensus at the time of $56.46B. The company also lowered its FY13 guidance following both its Q1 and Q2 reports. Caterpillar forecast FY14 sales of $52.25B-$57.75B, compared to expectations of $58.65B. The company said the 2014 outlook reflected uncertainty, and it expected to take "deeper actions" to improve its cost structure and balance sheet. On January 24, the company reported dealer machinery sales were down 9% in the past three months. STREET RESEARCH: Street research has been mostly negative in the weeks leading up to Caterpillar's Q4 earnings report. On October 24, JP Morgan downgraded Caterpillar to Neutral from Overweight, citing execution and rising headwinds following the company's weaker than expected Q3 results. The firm lowered its price target for the shares to $90 from $105. On November 7, ISI Group downgraded Caterpillar to Neutral from Buy. On November 25, BofA/Merrill upgraded Caterpillar to Buy from Neutral. The firm believed Caterpillar's Power System segment was an overlooked source of 2014 operating earnings and would help support profit of at least $4.50-$5.00 per share. BofA placed a $100 price target on the shares. PRICE ACTION: Caterpillar’s shares have traded modestly higher since the company's Q3 results, but are down over 10% from year ago levels. In afternoon trading ahead of Monday's Q4 report, Caterpillar’s shares are down over 2.5%.
News For CAT From The Last 14 Days
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February 19, 2015
11:11 EDTCATCaterpillar retail trends remain negative, says Wells Fargo
After Caterpillar reported earlier that its retail sales of machine declined 14% in the three month period ending in January, Wells Fargo noted that the trend worsened from December's 12% drop and that all regions reported declines. The firm believes retail trends remain negative for Caterpillar shares, on which it keeps a Market Perform rating.
09:09 EDTCATCaterpillar reports retail machines sales down 14% in three months end January
Caterpillar reported in a filing that its total retail machines sales were down 14% on a three month rolling basis in January. For reference, retail sales of machines were down 12% in the period ending in December and were down 10% in the period ending in November. The company reported world Resources Industries sales down 27% in the January period, which was down fom the 22% drop in the December end period. Construction Industries world sales were down 10%, worse than the 9% drop in the December period. Total Energy & Transportation Retail Sales were up 22% in the January end period, which was the same growth rate as seen in the December period.
07:20 EDTCATCaterpillar facing multiple federal investigations, WSJ says
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February 18, 2015
06:23 EDTCATCaterpillar discloses grand jury subpoena requesting financial information
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