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Stock Market & Financial Investment News

News Breaks
March 10, 2013
12:43 EDTCMI, ETNEaton and Cummins announce powertrain package for North American truck market
Eaton (ETN) and Cummins (CMI) unveiled a new powertrain package for the North American heavy duty truck market that is expected to deliver 3-6 percent fuel economy improvements, lower preventative maintenance costs, and total lifecycle cost improvements. The new product integrates an Eaton Fuller Advantage Series automated transmission with new Cummins ISX15 SmartTorque2 ratings. The product will be available in the fall of 2013 for linehaul, regional haul and less-than-truckload applications.
News For ETN;CMI 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 EDTETNOn the Fly: Analyst Initiation Summary
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January 21, 2015
16:13 EDTETNEaton initiated with a Buy at UBS
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