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Stock Market & Financial Investment News

News Breaks
December 17, 2012
15:14 EDTCMI, NAVNavistar ships International ProStar units ahead of schedule
Navistar International Corporation (NAV) announced that the company is shipping to customers its first 300 International ProStar®+ Class 8 on-highway tractors equipped with the Cummins (CMI) ISX15, achieving another important milestone in the launch of the company's SCR-based clean engine technology.
News For CMI;NAV From The Last 14 Days
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January 27, 2015
12:22 EDTCMICaterpillar sinks after guidance cut, drags down machinery peers
Shares of Caterpillar (CAT) are falling after the company reported lower than expected profit and reduced its full-year guidance to well below analysts' consensus outlook. WHAT'S NEW: Caterpillar reported fourth quarter earnings per share, excluding certain items, of $1.35, versus analysts' consensus outlook of $1.55. The company's Q4 revenue came in slightly above expectations. However, Caterpillar provided fiscal 2015 EPS guidance, excluding certain items, of about $4.75, versus the consensus outlook of $6.67, and its revenue outlook was about $50B, compared with analysts' consensus estimate of $55B. In October, Caterpillar had provided a "preliminary outlook" for 2015 of no change to a slight increase in its revenue, versus 2014 levels. In 2014 the company reported revenue of $55.18B. Caterpillar blamed its disappointing guidance on weak commodity prices that are negatively impacting its Energy & Transportation business, as well as its mining equipment unit. Caterpillar also lowered its expectations for construction equipment sales in China, noting that while its market position in China has improved, 2015 expectations for the construction industry in China are now lower. ANALYST REACTION: In a note to investors, Wells Fargo wrote that Caterpillar's results are a bad sign for other machinery makers, including Cummins (CMI), Deere (DE), and Terex (TEX). The firm kept a Market Perform rating on Caterpillar. PRICE ACTION: in early afternoon trading, Caterpillar fell 7.5% to $79.61, Cummins dropped 4.6% to $141, Deere declined 3% to $85.76, and Terex fell 4.4% to $22.50.
10:00 EDTCMIOn the Fly: Analyst Downgrade Summary
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09:08 EDTCMICummins downgraded to Market Perform from Outperform at First Global
08:58 EDTCMICaterpillar guidance to be negative for shares, says Wells Fargo
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January 22, 2015
10:03 EDTNAVOn the Fly: Analyst Downgrade Summary
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January 21, 2015
16:26 EDTNAVNavistar downgraded to Underperform from Market Perform at BMO Capital
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