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Stock Market & Financial Investment News

News Breaks
June 13, 2014
09:23 EDTKMTKennametal reports orders for three months end May up 15%, up 4% organically
Kennametal provided orders for the 3 months ended May 31, reporting that consolidated orders were 15% higher year-over-year, which reflected acquisition growth related to the Tungsten Materials Business. On an organic basis, orders increased 4% from the prior year period. In May, Kennametalís order rates showed increased activity year-over-year in most of its served end markets. Compared with prior year, the Industrial segment delivered solid orders growth in the tooling business, as well as continued strength related to its WIDIA products in the distribution channels. Order rates for the Infrastructure segment were higher than prior year primarily due to improved demand in the energy sector, partially offset by lower production levels in underground mining markets.
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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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