New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 12, 2014
14:21 EDTAGCO, DEWASDE bearish for farm equipment manufacturers, says Wells Fargo
Wells Fargo notes the USDA adjusted its 2014/2015 forecasts in the August WASDE report, resulting in modestly higher ending stocks to use for corn, soybeans, and wheat. The firm believes weakening commodity market fundamentals continue to suggest a relatively prolonged farm equipment demand decline. Wells views the August report as bearish for farm equipment manufacturers and keeps Underperform ratings on Deere (DE) and AGCO (AGCO).
News For DE;AGCO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 27, 2015
12:22 EDTDECaterpillar 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.
08:58 EDTDECaterpillar guidance to be negative for shares, says Wells Fargo
Subscribe for More Information
January 23, 2015
08:32 EDTDEDeere announced indefinite layoffs at five locations for workforce adjustments
Subscribe for More Information
January 22, 2015
14:47 EDTAGCOAGCO raises quarterly dividend to 12c from 11c per share
Payment will be made on March 16 to all stockholders of record as of the close of business on February 16.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use