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July 23, 2014
20:25 EDTJBLU, JBLU, BSX, BSX, LUV, LUV, HSY, HSY, NBL, NBL, RTN, RTN, PCP, PCP, CELG, CELG, LLY, LLY, BMY, BMY, UNP, UNP, MMM, MMM, CAT, CAT, POT, POT, GM, GM, F, FNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
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September 24, 2015
10:11 EDTCATJoy Global September weekly volatility increases on Caterpillar restructuring
Joy Global (JOY) September weekly call option implied volatility is at 77, October is at 60, November is at 57; compared to its 52-week range of 26 to 70, suggesting large price movement after Caterpillar(CAT) announced restructuring plans to lower costs by $1.5B annually.
09:25 EDTFFord to host sales conference call
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09:22 EDTFFord exec says company does not use emissions 'defeat devices,' CNBC reports
Ford President of the Americas Joe Hinrichs said, while appearing on CNBC's Squawk Box, that Ford does not use "defeat devices and we clearly understand what it means from an integrity standpoint to make sure our vehicles perform on the road like they do in the lab." Hinrichs' comments come after Volkswagen (VLKAY) was accused by the EPA of installing a device in its diesel vehicles to mask their true emissions and after a German report said that a discrepancy with on-road emissions performance was found with an SUV made by BMW (BAMXY). Reference Link
09:17 EDTCATCaterpillar announces reorganization in dealer and customer support divisions
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09:11 EDTCATCaterpillar: Pre-tax costs associated with actions to be about $2B through 2018
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09:10 EDTCATCaterpillar: Restructuring costs, sales outlook will be 'negative for profit'
Expects costs will be favorable.
09:09 EDTCATCaterpillar: Cost reductions could impact more than 20 facilities
Cost reductions could impact more than 20 facilities and slightly more than 10% of manufacturing square footage. A portion of these cost reductions are expected to be effective in 2016, with more savings anticipated in 2017 and 2018.
09:06 EDTCATCaterpillar volatility up into restructuring plans to lower costs
Caterpillar September weekly call option implied volatility is at 33, October and November is at 30; compared to its 52-week range of 16 to 38, suggesting large price movement into announcing restructuring plans to lower costs by $1.5B annually.
09:06 EDTCATCaterpillar says key industries are 'well below prior peak levels'
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09:05 EDTCATCaterpillar expects FY16 revenue decline to occur in all three large segments
Expects FY16 revenue decline to occur in all three large segments -- Construction Industries, Energy & Transportation and Resource Industries - with the most significant decline in the oil and gas portion of our Energy and Transportation segment.
09:05 EDTCATOn The Fly: Pre-market Movers
HIGHER: Arrowhead Research (ARWR), up 35% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection... Conatus Pharmaceuticals (CNAT), up 19% after the company's Phase 2 Portal Hypertension clinical trial of emricasan met its primary endpoints... Keryx Biopharmaceuticals (KERX), up 13% after announcing that the European Commission has approved Fexeric for the control of elevated serum phosphorus levels, or hyperphosphatemia, in adults with chronic kidney disease. LOWER: Caterpillar (CAT), down 5% after announcing restructuring plans, lowering revenue guidance, and having stock initiated with a Sell rating and a $28 price target at Axiom... Twitter (TWTR), down 1.5% after Citi cut estimates below consensus and lowered its price target to $30. DOWN AFTER EARNINGS: Worthington (WOR), down 12.5%... Accenture (ACN), down 3%.
09:04 EDTCATCaterpillar expects FY15 decline in revenue outlook to impact Q3 and Q4
09:03 EDTCATCaterpillar sees FY16 revenue to be 5% below FY15, consensus $47.36B
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09:03 EDTCATCaterpillar cuts FY15 revenue $48B from $49B, consensus $48.82B
09:03 EDTGM, FAlcoa completes expansion of Tennessee facility
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09:03 EDTCATCaterpillar to reduce workforce by 4,000-5,000 people between now and 2016-end
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09:02 EDTCATCaterpillar announces restructuring plans to lower costs by $1.5B annually
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07:55 EDTGMVW scandal strengthens Marchionne's quest for consolidation, Bloomberg says
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07:31 EDTCATAxiom initiates Caterpillar with a Sell, sees 60% downside potential
Axiom analyst Gordon Johnson II initiated Caterpillar with a Sell rating, saying that two of the company's three core businesses are struggling and he believes near-term strength in the company's Construction business is transient. Johnson thinks China's stimulus measures and near-zero interest rates have allowed Caterpillar to "stuff the channel" for the past five years, but with both tailwinds moderating, the analyst projects that the company's calendar 2016 EPS will fall to $2.79, far below the Street consensus view of $4.53. The analyst set a $28 price target on the stock, which represents about 60% downside from Caterpillar's closing price of $70.20 yesterday.
07:20 EDTPOTPotash volatility increases as shares trend lower
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