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Stock Market & Financial Investment News

News Breaks
February 14, 2014
09:07 EDTKMTKennametal reports orders flat on organic basis for 3 months end January
Kennametal reported orders for the 3 months ended January 31 rose 12% on both of U.S. dollar and local currency basis. Consolidated orders reflected acquisition growth related to the Tungsten Materials Business. On an organic basis, orders were relatively similar to prior year levels. Kennametal's order rates were mixed for the month of January. The company said, "Although extreme weather conditions had some temporary slowing impact to customer activity, the Industrial segment continued to generate year-over-year growth, primarily in its tooling business. However, order rates for the Infrastructure segment was lower compared with prior year, due to reduced volumes in its mining and energy businesses." Kennametal continues to expect organic revenue growth in the 2%-4% range for FY14, as stated in the company's recent earnings announcement.
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August 19, 2014
08:11 EDTKMTKennametal announces departure of CEO Carlos Cardoso
Kennameta announced that Chairman, President and CEO Carlos Cardoso has decided to retire from the company effective on December 31. This will be a seamless leadership transition as the company's board of directors commences its search for Cardoso's successor, which members expect to complete before the end of the year. The search process will consider both internal and external candidates.
August 14, 2014
09:23 EDTKMTKennametal reports July period consolidated orders up 17%
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