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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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May 20, 2015
10:37 EDTCAT, CMICaterpillar April update seems negative for earnings power, says Wells Fargo
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09:14 EDTCATCaterpillar reports retail machines sales down 11% in three months end April
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07:14 EDTGEElectric Products Group to hold a conference
EPG 2015 is being held in Longboat Key, Florida on May 18-20 with webcasted company presentations to begin on May 20 at 7:30 am; not all company presentations may be webcasted. Webcast Link
06:17 EDTGEGeneral Electric looking to sell Australia commercial lending unit, WSJ reports
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06:08 EDTGEStocks with implied volatility below IV index mean; DD GE
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May 19, 2015
18:54 EDTGEGE to lose $350M locomotives deal if Export-Import Bank fails, Reuters says
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18:01 EDTGEAflac names Matthew Owenby as Chief Human Resources Officer
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14:51 EDTCATCaterpillar management to meet with William Blair
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08:04 EDTGEGE announces launch of Digital Wind Farm
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07:18 EDTIR, TXTElectric Products Group to hold a conference
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06:01 EDTGEStocks with implied volatility below IV index mean; MSFT GE
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May 18, 2015
16:14 EDTGEColfax announces acquisition of Roots blowers & compressors
Colfax Corporation (CFX) announced that it has entered into a binding agreement to acquire the Roots blowers and compressors business unit , also known as Industrial Air & Gas Technologies, from GE (GE) Oil & Gas for a cash consideration of $185M. Roots is a leading supplier of blower and compressor technologies which service a broad range of end markets, including water treatment, chemical production, and power generation. This acquisition will build on Howden's global strength in compressors and blowers and will add important application expertise and product solutions to the portfolio. In 2014, Roots had approximate revenues of $155 million and EBITDA of $22M. In making the announcement, Steve Simms, President and Chief Executive Officer of Colfax, stated, "I am delighted to welcome the Roots team to Colfax. We are excited by the opportunities created by combining the Roots capabilities and application expertise with Howden's global footprint and continuous improvement culture. Like Howden, the Roots business has spent more than 150 years developing market leading products and solutions, and we look forward to continuing to innovate and grow." Mr. Simms continued, "Strengthening our businesses through bolt-on acquisitions is a core part of our strategy, and we continue to see a robust pipeline of opportunities."Closing of the acquisition is expected early in the third quarter following the fulfillment of certain conditions.
09:36 EDTGEActive equity options trading on open
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08:07 EDTGESplunk appoints Snehal Antani as Chief Technology Officer
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06:56 EDTGEGE, Emerson said to be mulling bids for Aveva, Sunday Times reports
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06:05 EDTGEStocks with implied volatility below IV index mean; MSFT GE
Stocks with implied volatility below IV index mean; Microsoft (MSFT) 17, General Electric (GE) 15 according to iVolatility.
May 15, 2015
18:37 EDTGEGeneral Electric awarded $105M government contract modification
General Electric - Aviation, Cincinnati, Ohio, has been awarded a $105M modification to previously awarded contract FA8650-09-D-2922 to cover the potential award of the Adaptive Engine Technology Development order. This additional research and the resulting data will further mature aircraft engine technologies and decrease risk to achieve a system level preliminary design review and subsequent Adaptive Engine Research Design compatibility review. Work will be performed at Cincinnati, Ohio, and is expected to be complete by Nov. 3, 2016. Funds will be obligated if additional in-scope work is awarded. Air Force Research Laboratory, Wright-Patterson Air Force Base, Ohio, is the contracting activity.
17:07 EDTIRTrian Fund gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: PepsiCo (PEP), Mondelez (MDLZ), Bank of New York Mellon Group (BK), and Du Pont (DD). DECREASED STAKES: Family Dollar (FDO), and Ingersoll-Rand (IR). LIQUIDATED STAKES: Lazard (LAZ).
10:12 EDTCATJPMorgan says sell Deere ahead of potential liquidity crunch for farmers
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06:03 EDTGEStocks with implied volatility below IV index mean; MSFT GE
Stocks with implied volatility below IV index mean; Microsoft (MSFT) 17, General Electric (GE) 15 according to iVolatility.
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