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Stock Market & Financial Investment News

News Breaks
April 22, 2013
13:07 EDTGE, KMTUY, IR, CMI, CAT, TXTCaterpillar 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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October 16, 2014
11:17 EDTCATTitan downturn warning seen as negative for Deere, AGCO
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09:41 EDTCATTitan outlook negative for AGCO, Deere, says Wells Fargo
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06:44 EDTGEWatchdog sees new suitor as best option for Bank BPH, Reuters says
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October 15, 2014
14:48 EDTTXTTextron October volatility elevated into Q3 and outlook
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13:16 EDTCMICummins upgraded to Buy from Hold at Standpoint Research
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12:30 EDTGEGE exploring options for Bank BHP sale
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10:49 EDTTXTHigh option volume stocks
High option volume stocks: SNV FCG TXT MDSO PPHM NTRS CCL RGP LLTC SOCL
10:13 EDTGEGeneral Electric October volatility elevated into Q3 and guidance
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09:03 EDTGEGE unit arranges $200M senior debt facility
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October 14, 2014
09:46 EDTGEGE signs contract with ENKA to supply power generation equipment in Iraq
GE has signed a contract with ENKA to supply power generation equipment for a new 750-megawatt combined-cycle plant being developed by Qaiwan Group in Iraq. GE will provide four 9E gas turbines and one steam turbine for a new power plant in Sulaimaniyah to support the governmentís goal of strengthening the electricity infrastructure in the Kurdistan region. Through its regional partnerships, GEís turbines support more than 90% of the electricity generated in the Kurdistan region, supplying nearly 20 hours of electricity a day. The Erbil, Sulaiymaniyah and Dohuk plants, powered by 24 GE 9E gas turbines, produce more than 3,000 MW, the equivalent to the required annual energy needs of approximately 3 million households in Iraq. The Bazyan plant will help deliver power to an additional 750,000 households.
October 13, 2014
14:34 EDTCMICummins sell-off a buying opportunity, says Argus
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10:17 EDTTXTEbola related weakness in aerospace stocks seen as buying opportunity
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09:02 EDTGEGE receives order from BAE Systems for 3U VPX rugged systems
GEís Intelligent Platforms business (GE) announced at AUSA that it had received a $2.6M order from BAE Systems Platforms and Services (BAESY) for a quantity of its latest generation 3U VPX COTS Rugged Systems that deliver an advanced HPEC capability. The COTS Rugged Systems will be deployed as part of the US Armyís CETU which sees in-vehicle training and simulation incorporated into the Bradley Fighting Vehicle.
09:01 EDTGEGE Capital Aviation to acquire Milestone Aviation for $1.775B
GE Capital Aviation Services, the aircraft leasing unit of GE, announced the signing of an agreement to acquire Milestone Aviation Group, the Dublin-based helicopter lessor, for $1.775B. The acquisition is in line with GE Capitalís strategic plan of growing and enhancing value in core areas aligned with GEís industrial domains including energy, aviation, oil & gas and healthcare, while reducing the overall size of GE Capital through the disposition of non-strategic assets such as the recently executed IPO and planned split-off of our North American Retail Finance business and the sale of our consumer banks in the Nordics. The transaction remains subject to customary closing conditions, including regulatory approvals, and is targeted to close in 2015. Richard T. Santulli, chairman and CEO, Milestone Aviation Group, will serve as chairman of the helicopter leasing business and will become an officer of GE.
08:04 EDTTXTTextron announces $15.22M foreign military sales contract
Textron Systems Marine & Land Systems, a Textron business, announced a $15.22M firm-fixed-price, foreign military sales contract from the U.S. Army Contracting Command, Warren, MI, to provide 10 COMMANDO Select four-wheeled armored vehicles, along with related fielding hardware and technical services, to the Bulgarian National Military Forces. The vehicles initially will be deployed in support of the International Security Assistance Force in Afghanistan. Work will be performed in Slidell, LA, Hunt Valley, MD, and Afghanistan with vehicle deliveries in the 1Q15. All contract activities are expected to be completed by June 30, 2015.
October 12, 2014
17:41 EDTGEGeneral Electric could return 25%, Barron's says
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17:20 EDTGEGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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October 10, 2014
18:05 EDTGEGeneral Electric negotiating deal to buy Milestone Aviation, WSJ reports
General Electric's finance unit is negotiating a deal to acquire Milestone Aviation Group, and the purchase price could be more than $2.5B, The Wall Street Journal reports, citing people familiar with the matter. Reference Link
07:25 EDTGEGE CEO to continue shedding divisions in FY15, Bloomberg says
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07:21 EDTGEGE expects data division to exceed $1B in sales this year, Reuters says
GE CEO Jeff Immelt said that the company was en route to gross over $1B in sales from its industrial data-analysis division in FY14, and is looking to broaden the availability of its software platform in FY15, according to Reuters, citing comments from Immelt. Reference Link
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