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Stock Market & Financial Investment News

News Breaks
July 21, 2014
07:41 EDTCATWhistleblowers allege bogus repairs by Caterpillar unit, WSJ says
Caterpillar subsidiary Progress Rail Services is the subject of a previously reported criminal investigation by a federal prosecutor and current and former employees at the unit allege that railcar inspection workers face pressure to produce billable repair work and sometimes broke clients' cars on purpose or replaced parts that weren't broken, reported The Wall Street Journal. Note that in November 2013 Caterpillar disclosed in a regulatory filing that Progress had received a grand jury subpoena from the U.S. District Court for the Central District of California, though the Journal said that few details were available at that time. Reference Link
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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