New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 11, 2013
12:52 EDTAAUKY, VALE, CAT, JPYJoy Global sinks after profits, guidance miss expectations
Shares of mining equipment maker Joy Global (JOY) are retreating after the company's fourth quarter profits were below expectations and it provided lower than expected 2014 earnings guidance. WHAT'S NEW: Joy Global reported fourth quarter earnings per share of $1.11, excluding certain items, compared with analysts' consensus estimate of $1.12. For 2014, Joy Global predicted that its earnings per share, excluding certain items, would be $3-$3.50, versus analysts' consensus estimate of $3.68. Moreover, the company predicted that its 2014 revenue would be $3.6 billion-$3.8 billion, versus the consensus estimate of $3.8B. Joy Global said it would seek to reduce its costs going forward, since it believes that there are only a limited number of new projects available that could boost its 2014 results. During its earnings conference call, Joy Global suggested that commodities markets have become oversupplied, indicating that the correction in commodities is likely to continue. PRICE ACTION: In early afternoon trading, Joy Global (JOY) fell $3.65, or 6.5%, to $52.60. Caterpillar (CAT), which also makes mining equipment, gave back 1.3% to $85.30. Also falling were shares of large mining companies, with BHP Billiton (BHP) falling 2% to $65.45, Vale (VALE) dropping 2% to $15, Rio Tinto (RIO) sliding 1.9% to $52.30, and Anglo American (AAUKY) giving back 2.3% to $10.53.
News For JPY;CAT;VALE;AAUKY From The Last 14 Days
Check below for free stories on JPY;CAT;VALE;AAUKY the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 23, 2014
15:35 EDTCATNotable companies reporting before tomorrow's open
Subscribe for More Information
13:40 EDTCATEarnings Preview: Caterpillar sees Q1 revenue flat, year-over-year
Caterpillar (CAT) is expected to report first quarter earnings on Thursday, April 24, before the market open with a conference call scheduled for 11:00 am ET. Caterpillar is a manufacturer of mining and construction equipment. EXPECTATIONS: Analysts are looking for earnings per share of $1.24 on revenue of $13.14B, according to First Call. The consensus range for EPS is $1.03-$1.35 on revenue of $12.34B-$13.74B. LAST QUARTER: Caterpillar reported fourth quarter EPS of $1.54 against estimates for $1.28 on revenue of $14.4B against estimates for $13.64B. On its Q4 earnings report, the company forecast 2014 EPS ex. restructuring costs of $5.85, versus consensus of $5.78. FY14 revenue was seen at $56B, compared to consensus of $55.27B. In total, the company expects restructuring actions in 2014 to be about $400M-$500M and an after tax impact of 50c-60c per share. Caterpillar said it was seeing signs of improvement in the world economy. Despite the company's expectation that mine production will continue to increase, it expects mining companies to further reduce their capital expenditures in 2014. As a result, it expects sales in Resource Industries to decline modestly. The company said it will continue to be cautious on the mining industry. The company announced a $10B stock repurchase program that will expire on December 31, 2018, and it intends to repurchase $1.7B of common stock in Q1. On the company's Q4 conference call, management said it sees Q1 revenue flat with 1Q13. STREET RESEARCH: Sentiment on the Street has been mixed in the weeks leading up to Caterpillar's Q1 report. On February 20, Caterpillar was initiated with a Buy at Deutsche Bank with a price target of $122. Conversely, on March 4, Standpoint Research downgraded Caterpillar to Hold from Buy. PRICE ACTION: Caterpillar’s shares have traded approximately 14% higher since Q4 results were released in late January, and are up about 23% over the past year. In afternoon trading ahead of Thursday's Q1 report, Caterpillar’s shares are nearly flat.
10:51 EDTCATCaterpillar trends may be better than retail sales suggest, says Wells Fargo
Subscribe for More Information
10:44 EDTCATCaterpillar retail sales of machines for 3 months end March down 12%
Caterpillar disclosed in a regulatory filing earlier that its total retail sales of machines for the 3-month rolling period ended March were down 12%, which was down from an 8% decline reported for the 3-month period ended in February. In the March rolling period, retail machine sales were down 20% in Asia/Pacific, down 21% in EAME, down 21% in Latin America and up 6% in North America. Total Energy & Transportation retail sales for the March end rolling period were up 7%.
April 22, 2014
12:24 EDTCATBofA/Merrill industrial machinery analysts hold analyst/industry conference call
Subscribe for More Information
April 20, 2014
16:53 EDTCATCaterpillar looks to halt production at facility in France, WSJ says
Subscribe for More Information
April 13, 2014
16:12 EDTAAUKYAnglo American pursues compensation from Venezueala, Reuters says
Anglo American is pursuing compensation from Venezuela over the 2012 cancellation of mining concessions by late president Hugo Chavez's government, says Reuters. Reference Link
April 10, 2014
07:26 EDTVALECommittee recommends Vale be stripped of Simandou license, WSJ says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use