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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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May 20, 2015
10:37 EDTCATCaterpillar April update seems negative for earnings power, says Wells Fargo
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09:14 EDTCATCaterpillar reports retail machines sales down 11% in three months end April
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May 19, 2015
14:51 EDTCATCaterpillar management to meet with William Blair
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May 15, 2015
10:12 EDTCATJPMorgan says sell Deere ahead of potential liquidity crunch for farmers
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May 11, 2015
10:14 EDTCATAnalyst says buy Caterpillar, Joy Global before mining bottoms
The shares of Joy Global (JOY) and Caterpillar (CAT) are climbing after research firm Baird analyst Mircea Dobre upgraded both names, citing a potential bottom in commodity prices. Both companies develop mining equipment. WHAT'S NEW: In a note to investors earlier today, Baird's Dobre upgraded Joy Global and Caterpillar to Outperform from Market Perform. There are signs that the worst of the downturn in commodity prices may have passed, the analyst stated. Additionally, the shares of both Caterpillar and Joy Global historically bottom three to five quarters before mining equipment shipments rebound, according to Dobre. Consequently, investors who wait for evidence of a turnaround in the companies' mining equipment bookings may be late to the party, the analyst warned. Both stocks have now underperformed the market by amounts that are similar to their worst underperfomance during the early 1980s commodity bust, according to Dobre, who raised the price target on Caterpillar to $101 from $80 and on Joy Global to $62 from $45. PRICE ACTION: In early trading, Joy Global climbed nearly 4% to $43.64 and Caterpillar rose 1.5% to $88.60.
09:59 EDTCATOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcatel-Lucent (ALU) upgraded to Outperform from Neutral at Exane BNP Paribas... Caterpillar (CAT) upgraded to Outperform at Baird... Cisco (CSCO) upgraded to Outperform with $36 target at Pacific Crest... Evolution Petroleum (EPM) upgraded to Outperform from Market Perform at Northland... Hecla Mining (HL) upgraded on hedging discipline at Roth Capital... Joy Global (JOY) upgraded to Outperform from Neutral at Baird... Monster Beverage (MNST) upgraded to Buy from Neutral at Citigroup... Nokia (NOK) upgraded to Outperform from Neutral at Exane BNP Paribas... On Deck Capital (ONDK) upgraded to Neutral from Sell at Sterne Agee CRT... Royal Caribbean (RCL) upgraded to Outperform from Neutral at Wedbush... SMC (SMECF) upgraded to Buy from Neutral at Goldman... Sally Beauty (SBH) upgraded to Outperform from Market Perform at Raymond James... Southwestern Energy (SWN) upgraded to Overweight from Equal Weight at Barclays... Sprouts Farmers Markets (SFM) upgraded to Outperform at BMO Capital... Suburban Propane (SPH) upgraded on positive outlook at Stifel... Suffolk Bancorp (SUBK) upgraded to Outperform from Market Perform at Keefe Bruyette... Syngenta (SYT) upgraded to Buy from Neutral at UBS... Triumph Group (TGI) upgraded to Outperform from Sector Perform at RBC Capital... United Natural Foods (UNFI) upgraded to Overweight from Equal Weight at Stephens... Web.com (WWWW) upgraded to Buy from Hold at Deutsche Bank... Zillow Group (Z) upgraded to Buy from Neutral at SunTrust.
09:02 EDTCATCaterpillar upgraded to Outperform at Baird
As reported previously, Baird upgraded Caterpillar to Outperform from Neutral as the firm noted the stock's meaningful underperformance over the past four years and its history of having never underperformed the broader market for five consecutive years. Baird raised its price target to $101 from $80 on Caterpillar shares.
06:23 EDTCATCaterpillar upgraded to Outperform from Neutral at Baird

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