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Stock Market & Financial Investment News

News Breaks
April 22, 2013
13:07 EDTCAT, KMTUY, CMI, GE, TXT, IRCaterpillar guidance weighing on Industrial names
A number of industrial stocks are declining after one of the companies in the sector, Caterpillar (CAT), reported weaker than expected first quarter results and lowered its fiscal 2013 revenue guidance. WHAT'S NEW: Caterpillar explained that its expectations for its mining unit have dropped significantly. The company now expects sales of the mining machines it has traditionally sold to drop about 50% this year. It predicts that sales of machines made by Bucyrus, a mining equipment maker it acquired, to drop 15% this year. Caterpillar added that its expectations for its Construction Industries and Power Systems units remain similar to its previous outlook. Nevertheless, the industrial company reduced its fiscal 2013 revenue guidance to $57B-$61B, from its previous outlook of $60B-$68B. Analysts' consensus estimate was $62.74B. Caterpillar estimated that its earnings per share would be $7 if its revenue comes in at the midpoint of its guidance. It had previously provided FY13 EPS guidance of $7-$9. On a positive note, Caterpillar said that it would resume purchasing its own stock this quarter, and expects to buy back about $1B of its shares. ANALYST REACTION: In a note to clients, Wells Fargo analyst Andrew Casey predicted that Caterpillar's profitability would continue to be constrained by weak spending by its mining customers, as demand for mining equipment is likely to be anemic for the "foreseeable future" unless the global economy rebounds sharply, he believes. Casey believes that Caterpillar's results bode badly for mining equipment companies and engine makers such as Cummins (CMI) in the short term. He maintained a Market Perform rating on Caterpillar. TODAY'S PRICE ACTION: In early afternoon trading, GE (GE) fell 2% to $21.30, while the ADR shares of Caterpillar's Japanese competitor, Komatsu (KMTUY) fell 1% to $25.20, and European industrial conglomerate Ingersoll Rand (IR) fell 1% to $53.50. Caterpillar rose 2.8% to $82.70.
News For GE;KMTUY;IR;CMI;CAT;TXT From The Last 14 Days
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December 16, 2014
08:53 EDTCATCaterpillar downgraded to Underperform from Neutral at Macquarie
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08:24 EDTCATCaterpillar downgraded to Underperform from Neutral at Macquarie
08:03 EDTGEGeneral Electric to acquire Oceaneering's Electric Actuator product line
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05:56 EDTGEBoeing selects GE Aviation for ELMS on 777X
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December 15, 2014
12:01 EDTGEBioTime unit, GE Healthcare sign set of license agreements, terms not disclosed
BioTime (BTX) announced that its subsidiary ES Cell International Pte. Ltd. and GE Healthcare (GE) have signed a set of license agreements through which GEHC received rights to ESIís stem cell patents and ESI received rights to stem cell patents controlled by GEHC, in both cases for the development of cellular assays and models derived from stem cells for use in drug discovery and toxicity screening. In addition, the agreements give GEHC the right to grant sub-licenses to the ESI patent portfolio and, in certain circumstances, ESI may further sublicense its rights for the purpose of marketing stem cell-derived products. Financial terms were not disclosed.
11:17 EDTGEGE Aviation selected by Boeing for 777x common core avionics systems
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08:15 EDTGEGeneral Electric to host investor meeting
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08:08 EDTGEGeneral Electric enters into IP licensing agreement with WordLogic
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December 12, 2014
11:57 EDTGEGeneral Electric increases dividend 5% to 23c from 22c
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11:57 EDTGEGeneral Electric increases dividend 5% to 23c from 22c
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09:52 EDTTXTEsterline comments on T-6 modest positive for Textron, says Wells Fargo
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December 11, 2014
08:21 EDTIRIngersoll-Rand shares should be bought into 2015, says Bernstein
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December 10, 2014
08:04 EDTGEGE Energy Financial Services, Pacifico to build second joint solar project
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December 9, 2014
06:06 EDTIRIngersoll-Rand to acquire FRIGOBLOCK for EUR 100M
Ingersoll-Rand announced it has entered into an agreement to acquire FRIGOBLOCK for EUR 100M. The acquisition is expected to close in the first half of 2015, subject to regulatory approval. FRIGOBLOCK manufactures and designs transport refrigeration units for trucks and trailers in Europe, primarily sold in Northern Europe. FRIGOBLOCK operates in Essen, Germany and is home to about 150 employees. The companyís annual revenue is approximately EUR 41M. The company expects the business to be accretive to EPS, EBITDA margins and ROIC in its first full year of operation. Upon closing of the transaction, Ingersoll Rand will welcome the FRIGOBLOCK brand into the Ingersoll Rand family of brands and will become part of the Transport Solutions business, which goes to market as Thermo King and is consolidated within the companyís Climate Segment.
December 8, 2014
08:37 EDTTXTTextron Aerosonde SUAS receives FAA Certificate of Authorization for NAS
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December 5, 2014
06:26 EDTGEAres Management and GE Capital provide debt package to fund Open GI acquisition
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December 4, 2014
11:59 EDTGEHungary to buy Budapest Bank from GE Capital, Reuters reports
Hungary has signed a preliminary agreement to buy Budapest Bank from GE Capital, reports Reuters, according governments spokesman Zoltan Kovancs. economy Minister Mihlay Varga said the transaction is expected to close by the end of July 2015, but declined to comment on the price. Reference Link
December 3, 2014
07:14 EDTGEBusiness Insider to hold a conference
Business Insider IGNITION 2014 Conference is being held in New York on December 1-3 with webcasted company presentations to begin on December 3 at 8 am; not all company presentations may be webcasted. Webcast Link
06:04 EDTGEGeneral Electric's gas turbine-compresssor solution selected by LNG Canada
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05:05 EDTCMINovember Class 8 orders grew 93%, says Wells Fargo
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