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Stock Market & Financial Investment News

News Breaks
April 22, 2013
13:07 EDTCMI, GE, TXT, IR, CAT, KMTUYCaterpillar 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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July 23, 2015
07:45 EDTCATCaterpillar cut FY15 revenue guidance due to currency impacts
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07:40 EDTCATCaterpillar Financial reports Q2 revenue $693M, down 6% from 2Q14
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07:34 EDTCATCaterpillar says global economy remains 'relatively stagnant'
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07:33 EDTCATCaterpillar backs FY15 adjusted EPS $5.00, consensus $4.97
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07:32 EDTCATCaterpillar reports Q2 adjusted EPS $1.27, consensus $1.27
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July 22, 2015
15:26 EDTCATNotable companies reporting before tomorrow's open
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14:37 EDTCATCaterpillar technical comments ahead of earnings
The shares are testing the $80 area on the downside ahead of results. On a long-term chart of five years or more, it is clear how important $80 has been as a support. Since 2010 it has only been broken once in any major way. If the news is sufficiently bearish, this support could give way and allow the preceding downtrend to resume. Support levels to watch would be at $78.19 which is the 52-week low, $75.80, and $71.78. If the news is a bullish surprise, the first major test of resistance would come at the 10-month moving average which was last at $87.55. It would take a breakout above the 10-month to turn the short-term trend bullish, with next resistance at $89.62.
14:22 EDTCATCaterpillar July weekly volatility elevated into Q2 and outlook
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13:31 EDTCMI, CATEarnings Watch: Wells Fargo says Caterpillar revenue consensus likely too high
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10:37 EDTCMI, CATCaterpillar June data suggests consensus revenue view too high, says Wells Fargo
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09:34 EDTCATCaterpillar falls, levels to watch
The stock is down 1.7% to $80.83 at time of writing. A big level to watch is the 52-week low at $78.19, which may get retested. Resistance is at $81.78.
09:34 EDTIRIngersoll-Rand debuts UP6S fixed speed rotary screw compressor solution
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09:17 EDTCATCaterpillar reports retail machines sales down 14% in three months end June
Caterpillar reported in a regulatory filing that its total retail machines sales were down 14% on a three month rolling basis in June. For reference, retail sales of machines were down 12% in the period ending in May and were down 11% in the period ending in April. The company reported world Resources Industries sales down 13% in the June period, which was worse than the 8% drop in the May end period. Construction Industries world sales were down 16%, worse than the 14% drop in the May period. Total Energy & Transportation Retail Sales were down 10% in the June end period, which was worse than the 6% decline seen in the May period.
07:23 EDTGEFrench minister 'reassured' by elements of Alstom, GE deal talks, Reuters says
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July 21, 2015
10:14 EDTTXTHigh option volume stocks:
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July 20, 2015
16:20 EDTGEFederal Reserve establishes enhanced standards for GE Capital
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09:04 EDTGEGE chooses Microsoft Office 365 fro employee collaboration and productivity
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06:16 EDTGEAlstom sees General Electric deal completed in coming months, Reuters reports
Alstom (ALSMY) expects to complete the transaction with GE (GE) in the coming months, Reuters reports. Reference Link
July 19, 2015
20:33 EDTTXTMedia reports say Lockheed to buy UTX's Sikorsky
According to media reports, Lockheed Martin (LMT) has agreed to purchase United Technologies' (UTX) Sikorsky unit. The news comes after several months of speculation surrounding Sikorsky, and an announcement could be made just a day prior to second quarter earnings for both United and Lockheed. WHAT'S NEW: Reuters reported on Sunday that Lockheed Martin has agreed to buy Sikorsky Aircraft from United Technologies for over $8B, according to two sources, adding that the deal is set to be formally announced on Monday. The news was later echoed by Bloomberg, citing a person familiar with the talks. WHAT'S NOTABLE: United Technologies first reported that it was exploring strategic options for its Sikorsky unit on March 11. At the time, the company noted that options included a spinoff or a stand-alone public company, saying that the split could allow United "to better focus on providing high-technology systems and services to the aerospace and building industries." Following the announcement, UBS remarked that it was "not surprised" and reiterated a $136 price target on United shares. On May 20, the Wall Street Journal quoted sources as saying Boeing (BA), Airbus (EADSY) and Lockheed submitted bids for the helicopter maker, with a speculated deal thought to reach the $10B area. A June 9 report from Reuters added Textron (TXT) to the list of bidders. Today's news -- though unconfirmed by either United or Lockheed -- comes ahead of second quarter earnings reports for both companies scheduled for Tuesday, July 21. PRICE ACTION: Shares of Lockheed Martin declined 0.22% to $201.18 at the close of trading on July 17, while those of United Technologies fell 0.45% to $110.76.
15:31 EDTTXTLockheed Martin to buy Sikorsky for over $8B, Reuters says
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