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Stock Market & Financial Investment News

News Breaks
August 12, 2013
14:42 EDTCAT, DE, AGCOCrop report indicates equipment demand likely to drop, says Wells Fargo
After the Department of Agriculture released its August crop report, Wells Fargo says that the modest improvement in row cash receipts was driven by statistical modeling changes. The firm thinks the report provides further evidence that the recent multiyear commodity price super cycle is likely ending, while demand for large farm equipment is likely to drop next year. The firm thinks the report suggests that North American large farm equipment demand could decline 30-50% through 2015. It keeps Underperform ratings on Deere (DE) and AGCO (AGCO).
News For DE;CAT;AGCO From The Last 14 Days
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February 4, 2016
10:20 EDTAGCOHigh option volume stocks: EPC DK DNKN TTWO AVT VHC RL ZBH BSX AGCO
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February 3, 2016
18:33 EDTDEDeere urges ratification of Trans-Pacific Partnership
Deere & Company urged the U.S. Congress to ratify the Trans-Pacific Partnership, saying the trade agreement signed by 12 countries today is a much-needed step to boost the global economy. Samuel Allen, Deere & Company chairman and CEO said the global marketplace is important to Deere's employees as nearly 40% of the company's revenues already come from sales outside the U.S. and Canada. Exports at Deere's larger agricultural and construction equipment factories in Iowa and Illinois account for between one-third and one-fourth of all units manufactured at those facilities. Deere serves customers in the TPP participating countries and has facilities in seven of them. The agreement is expected to boost trade flows among all participants and strengthen global food security by improving efficiency in meeting food and feed needs as well as improving infrastructure across the Asia-Pacific region.
February 2, 2016
12:03 EDTAGCOOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
10:17 EDTAGCOAGCO sees FY16 production down 3%-6%
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09:52 EDTAGCOAGCO sees FY16 CapEx $250M
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08:03 EDTAGCOAGCO backs FY16 adjusted EPS view roughly $2.30, consensus $2.39
Backs FY16 sales view about $7B, consensus $6.95B. Softer industry demand for farm equipment across all regions and the unfavorable effects of foreign currency translation are expected to negatively impact AGCO's sales and earnings for 2016. Gross and operating margins are projected to be below 2015 levels due to the impact of lower sales and production volumes, a weaker sales mix and increased investment in product development expenses. Benefits from the company's cost reduction initiatives are expected to partially offset the volume-related impacts.
08:02 EDTAGCOAGCO reports Q4 adjusted EPS 80c, consensus 79c
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January 28, 2016
16:40 EDTCATOn The Fly: Top stock stories for Thursday
The Dow began the session with triple digit gains thanks in part to solid earnings reports from some of America's bellwether corporations and oil prices, which approached $34 a barrel. The market was unable to hold its opening gains and eventually crossed into negative territory. Before the losses became too big the averages reversed and moved back across the flat line. With oil holding onto its gains and closing above $33 a barrel, the averages closed in positive territory ahead of the next barrage of earnings reports. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 15.5% to $109.11 after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. Facebook management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster pointed out... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded 4.7% to $61.08 after the company jumped over the lowered bar that had been set by bearish analysts... Under Armour (UA), which had similarly been the focus of concern recently for some bearish analysts, posted better than expected results on the top and bottom line and backed its fiscal year revenue forecast, proving its doubters wrong and sending its share rocketing up 22.5% to $84.00. MAJOR MOVERS: Among the notable gainers were Intrexon (XON), Inovio (INO) and Cerus (CERS), which gained a respective 10%, 7.6% and 1.4% as the ongoing Zika virus scare brought attention to the companies' efforts fighting the illness. Also higher were SolarCity (SCTY), Sunrun (RUN) and Vivint Solar (VSLR), with the solar stocks jumping 8.5%, 20.5% and 3.6%, respectively, after the California Public Utilities Commission approved new net-metering rules. Meanwhile, Eagle Pharmaceuticals (EGRX) rose 12.2% to $74.44 after announcing commercial availability of its Bendeka injection in partnership with Teva (TEVA). Among the noteworthy losers was Yahoo (YHOO), which lost 3.2% to $28.75 despite a pre-market spike after SpringOwl Asset Management urged the company to seek an investment from a strategic partner. The news was also followed by reports that CEO Marissa Mayer has started restructuring efforts with an "invest/maintain/kill" list, as well as news that Verizon (VZ) denied a report that it had bid for the company's core Internet business. Also lower were OSI Systems (OSIS), Qualcomm (QCOM) and eBay (EBAY), which fell a respective 31.8%, 8.3% and 12.5% following their quarterly earnings reports. INDEXES: The Dow rose 125.18, or 0.79%, to 16,069.64, the Nasdaq gained 38.51, or 0.86%, to 4,506.68, and the S&P 500 advanced 10.41, or 0.55%, to 1,893.36.
12:20 EDTCATOn The Fly: Top stock stories at midday
Stocks on Wall Street have moved all over the place in a wild morning of trading. The averages opened sharply higher as oil prices rose above $34 a barrel. The Dow opened with triple digit gains but following reports from Iraq that it would increase oil production, and refutations of rumors that OPEC might cut production, the commodity began to weaken, taking equities with it. The averages turned negative and it looked like another rout might be in the making. Before the market fell too far, it gathered itself and moved back into positive ground and the major averages are now in the green, but not far from where they ended yesterday's session. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 14.5% after the social media giant's fourth quarter earnings and revenue beat expectations. Wall Street analysts were nearly unanimous in their praise following the report, with a number increasing their price targets for its shares... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded about 2% this morning after the company jumped over its lowered profit hurdle... Shares of eBay (EBAY) and PayPal (PYPL) diverged after the recently-split companies reported their respective fourth quarter results and gave guidance, with eBay falling 13% and PayPal rising 7% near midday... The Dow Jones US Healthcare ETF (IYH) fell over 2% at midday after a number of big-names in the space gave disappointing guidance. Celgene (CELG) fell 5% following its Q4 report and fiscal year outlook, while Abbott (ABT) dropped 8% in the wake of its own results and guidance. MAJOR MOVERS: Among the notable gainers was Kinder Morgan (KMI), which rallied 8.5% after it was upgraded at Credit Suisse and Stifel. Also higher were Under Armour (UA), Dolby (DLB) and Deluxe (DLX), which gained 18%, 11% and 9%, respectively, after reporting quarterly earnings. Among the noteworthy losers was OSI Systems (OSIS), which fell 35% and was downgraded to Hold at BB&T following downbeat quarterly earnings. Also lower were Qualcomm (QCOM) and Discover (DFS), which each dropped about 7% after their quarterly earnings reports. INDEXES: Near midday, the Dow was up 1.37, or 0.01%, to 15,945.83, the Nasdaq was up 21.12, or 0.47%, to 4,489.28, and the S&P 500 was up 3.36, or 0.18%, to 1,886.31.
11:18 EDTCATCaterpillar sees 2016 Energy & Transportation sales down 10%-15%
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11:06 EDTCATCaterpillar says biggest Q4 revenue decline from Energy and Transportation
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10:46 EDTCATCaterpillar retraces much of its gains, levels to watch
Shares hit an intraday high of $62.45 following earnings and outlook, but has given back much of that gain with price last at $59.42. At that price next support is at $58.68. Resistance is at $60.78.
10:01 EDTAGCOAGCO increases dividend to 13c from 12c per share
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08:33 EDTCATOptions expected to be active
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07:36 EDTCATCaterpillar Financial reports Q4 revenue $648M, profit after tax $114M
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07:35 EDTCATCaterpillar sees FY16 Energy & Transportation sales to decline 10%-15%
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07:35 EDTCATCaterpillar sees FY16 EPS excluding restructuring costs $4.00, consensus $3.48
Expects restructuring costs in 2016 to be about $400M or about 50c per share.
07:34 EDTCATCaterpillar sees FY16 EPS $3.50, consensus $3.48
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07:33 EDTCATCaterpillar does not anticipate improvement in world economy, commodity prices
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07:33 EDTCATCaterpillar reports Q4 EPS excluding items 74c, consensus 69c
Reports Q4 revenue $11B, consensus $11.43B.
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