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Stock Market & Financial Investment News

News Breaks
February 12, 2014
10:09 EDTDEDeere sees modest GDP growth for 2014 with short term economic stress diminished
The company says risks still remain and grain prices and farm income are lower, but will remain near long-term average. In China, the subsidies are expected to be supportive of agriculure. In India, the Agriculture sector growth is expected due to a favorable 2013 monsoon season. Demand in the UK and Spain are expected to be lower but France and Germany may see upside. The gross value of agricultural production in Brazil is expected to increase 3% in 2014. Sees FY14 cost of sales as a percent of net sales at 75%; Sees FY14 R&D expense flat vs. FY13; Sees FY14 SG&A expense down 5% vs. FY13; Sees FY14 effective tax rate 34%-36%. Comments taken from slides for Q1 earnings conference call.
News For DE From The Last 14 Days
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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
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January 23, 2015
08:32 EDTDEDeere announced indefinite layoffs at five locations for workforce adjustments
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