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Stock Market & Financial Investment News

News For POT;MOS;FCX;CAT;MT From The Last 14 Days
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July 23, 2015
08:07 EDTFCXFreeport McMoRan files registration statement for possible IPO of O&G stake
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08:05 EDTFCXFreeport McMoRan sees consolidated sales of 1B pounds of copper in Q3
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08:04 EDTFCXFreeport McMoRan sees consolidated sales of 4.2B pounds of copper in FY15
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08:02 EDTFCXFreeport McMoRan reports Q2 adjusted EPS 14c, consensus 7c
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07:46 EDTCATCaterpillar announces intention to repurchase $1.5B of common stock in Q3
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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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13:47 EDTFCXEarnings Watch: Morgan Stanley positive on Freeport-McMoRan ahead of Q2 results
Freeport-McMoRan (FCX) is expected to report second quarter earnings on Thursday, July 23, before the market open with a conference call scheduled for 10:00 am ET. Freeport-McMoRan is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. EXPECTATIONS: Analysts are looking for earnings per share of 7c on revenue of $4.28B, according to First Call. The consensus range for EPS is (15c)-17c on revenue of $3.68B-$5.11B. LAST QUARTER: Freeport-McMoRan reported first quarter adjusted EPS of (6c) against estimates for (7c), on revenue of $4.15B against estimates for $4.06B. Consolidated sales for Q1 totaled 960M pounds of copper, 263K ounces of gold, 23M pounds of molybdenum and 12.5M barrels of oil equivalents, compared with 871M pounds of copper, 187K ounces of gold, 27M pounds of molybdenum and 16.1 MMBOE in Q1 of last year. Consolidated sales for 2015 are expected to approximate 4.2B pounds of copper, 1.3M ounces of gold, 95M pounds of molybdenum and 52.3 MMBOE. The company forecast FY16 sales of copper at 5.4B pounds and sales of gold at 1.9M oz. It sees FY17 sales of copper at 5B pounds and sales of gold at 2.4M oz. Capital expenditures are expected to approximate $6.5B for 2015, including $2.5B for major projects at mining operations and $2.8B for oil and gas operations. Freeport-McMoRan said it has taken actions to reduce or defer capital expenditures and other costs and is evaluating funding alternatives to advance growth projects in its oil and gas business, including consideration of a sale of public equity for a minority interest in its oil and gas subsidiary. On its Q1 conference call, management said they were optimistic for mid-term and long-term prospects for business. STREET RESEARCH: Sentiment on the Street leading up to Freeportís Q2 report has been positive. On April 28, Morgan Stanley upgraded Freeport-McMoRan to Overweight from Equal Weight with a $29 price target. The firm had reduced concerns about financing due to ramping volumes and cost declines. Morgan Stanley believed Freeport-McMoRan's copper growth projects were near an inflection point and production increases would drive a 28% volume increase at a lower cost and reduced capex. On June 9, Morgan Stanley said Freeport-McMoRanís valuation was attractive. The firm believed Freeport's Q1 was a multi-year trough for earnings and free cash flow. Morgan Stanley saw minimal execution risk at three key projects and expected costs to decline 22% in 2016. Morgan Stanley viewed Freeport's valuation as attractive and reiterated its Overweight rating and $29 price target. PRICE ACTION: Freeportís shares are down about 25% since the company's Q1 report and have plummeted more than 60% over the past twelve months. In afternoon trading ahead of Thursday's Q2 report, Freeportís shares are down about 4.7%.
13:31 EDTCATEarnings Watch: Wells Fargo says Caterpillar revenue consensus likely too high
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10:37 EDTCATCaterpillar 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.
09:17 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.
08:26 EDTPOTK+S preparing for possible hostile bid from Potash, Wirtschaftswoche reports
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July 21, 2015
13:14 EDTPOTK+S says new Potash offer not enough for takeover talks, Reuters says
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