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Stock Market & Financial Investment News

News Breaks
March 31, 2014
10:37 EDTPCAR, CMI, VOLVYCummins rises after firm starts coverage with Buy rating
Shares of Cummins (CMI) are outperforming the market after research firm Argus initiated coverage of the truck engine maker with a Buy rating in a note to investors earlier today. WHAT'S NEW: Cummins should continue to benefit as truck manufacturers switch to more fuel efficient engines amid stricter environmental regulations and higher fuel costs, the firm predicted. The company's U.S. business should benefit from steady increases in engine sales this year, while its distribution unit should grow as a result of acquisitions, the firm predicted. It set a $162 price target on the stock. PRICE ACTION: In early trading, Cummins rose $3.40, or 2.3%, to $149.50. Meanwhile, truck maker PACCAR (PCAR) gained 1.75% to $67.75. AB Volvo (VOLVY), which makes components for trucks and buses as well as construction equipment, climbed 1.7% to $15.80.
News For CMI;PCAR;VOLVY From The Last 14 Days
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January 30, 2015
08:02 EDTPCARPACCAR reports Q4 EPS $1.11, consensus $1.09
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07:30 EDTVOLVYCaterpillar, Komatsu, AB Volvo named in antitrust lawsuit, WSJ says
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January 29, 2015
15:37 EDTPCARNotable companies reporting before tomorrow's open
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05:51 EDTVOLVYSKF AB signs agreement with Volvo Cars
SKF has signed a significant agreement to supply Volvo Car Corporation with wheel hub bearing units for their future car lines. SKF’s wheel hub bearing units with low friction grease have been specifically developed to meet Volvo Cars demands on performance, weight reduction and stiffness, contributing to a more comfortable driving experience and lower fuel consumption.
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 EDTPCAROn the Fly: Analyst Downgrade Summary
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January 21, 2015
16:26 EDTPCARPACCAR downgraded to Underperform from Market Perform at BMO Capital
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