New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 19, 2013
17:44 EDTTEXTerex reports cont ops EPS (28c), may not compare to consensus 40c
Reports Q4 revenue $1.69B, consensus $1.83B. For Q4, loss from continuing operations was $30.7M, or 28c per share. Excluding the costs associated with debt repayment and certain other items in Q4, income from continuing operations as adjusted would have been $21.9M, or 19c per share.
News For TEX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 27, 2015
12:22 EDTTEXCaterpillar sinks after guidance cut, drags down machinery peers
Shares of Caterpillar (CAT) are falling after the company reported lower than expected profit and reduced its full-year guidance to well below analysts' consensus outlook. WHAT'S NEW: Caterpillar reported fourth quarter earnings per share, excluding certain items, of $1.35, versus analysts' consensus outlook of $1.55. The company's Q4 revenue came in slightly above expectations. However, Caterpillar provided fiscal 2015 EPS guidance, excluding certain items, of about $4.75, versus the consensus outlook of $6.67, and its revenue outlook was about $50B, compared with analysts' consensus estimate of $55B. In October, Caterpillar had provided a "preliminary outlook" for 2015 of no change to a slight increase in its revenue, versus 2014 levels. In 2014 the company reported revenue of $55.18B. Caterpillar blamed its disappointing guidance on weak commodity prices that are negatively impacting its Energy & Transportation business, as well as its mining equipment unit. Caterpillar also lowered its expectations for construction equipment sales in China, noting that while its market position in China has improved, 2015 expectations for the construction industry in China are now lower. ANALYST REACTION: In a note to investors, Wells Fargo wrote that Caterpillar's results are a bad sign for other machinery makers, including Cummins (CMI), Deere (DE), and Terex (TEX). The firm kept a Market Perform rating on Caterpillar. PRICE ACTION: in early afternoon trading, Caterpillar fell 7.5% to $79.61, Cummins dropped 4.6% to $141, Deere declined 3% to $85.76, and Terex fell 4.4% to $22.50.
08:58 EDTTEXCaterpillar guidance to be negative for shares, says Wells Fargo
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