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Stock Market & Financial Investment News

News Breaks
January 2, 2013
08:18 EDTOSKOshkosh upgraded to Buy from Neutral at ISI Group
ISI Group upgraded the Machinery Sector following channel checks that indicate an inventory reduction has started. The firm did lower estimates further below consensus but expects a bottom in 1H 2013 as inventories are reduced. As part of the sector change, the analyst upgraded Caterpillar (CAT), CNH Global (CNH), Cummins (CUM), Deere (DE), Eaton (ETN), Illinois Tool Works (ITW), Ingersoll-Rand (IR), and Oshkosh (OSK) to Buy from Neutral. The firm adds that Caterpillar was a notable laggard in 2012 and could be among the best performers in 1H 2012 as investors take on more risk.
News For OSK From The Last 14 Days
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October 9, 2014
14:01 EDTOSKOshkosh Defense segment aims to cut workforce by 250-300
Oshkosh announced that its Defense segment plans to reduce its workforce in Oshkosh by approximately 250-300 hourly positions in December. In addition, approximately 70 salaried positions will be eliminated with the majority being temporary employees, elimination of open positions and those retiring. With the reduction, Oshkosh will retain more than 1,800 Defense employees in Oshkosh, Wisconsin and key regional facilities around the world. The company said, "We continue to reshape our workforce as a result of significantly lower U.S. defense spending and dramatic reductions in military vehicle production. We have gone to great lengths to minimize and delay the impact of these changes on our Defense workforce. At the same time we are aggressively competing for future contracts including JLTV, MSVS and other international opportunities, which will serve as a catalyst for growth of the Defense business.

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