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News For UTX;CAT;QCOM From The Last 14 Days
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September 24, 2015
09:06 EDTCATCaterpillar volatility up into restructuring plans to lower costs
Caterpillar September weekly call option implied volatility is at 33, October and November is at 30; compared to its 52-week range of 16 to 38, suggesting large price movement into announcing restructuring plans to lower costs by $1.5B annually.
09:06 EDTCATCaterpillar says key industries are 'well below prior peak levels'
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09:05 EDTCATCaterpillar expects FY16 revenue decline to occur in all three large segments
Expects FY16 revenue decline to occur in all three large segments -- Construction Industries, Energy & Transportation and Resource Industries - with the most significant decline in the oil and gas portion of our Energy and Transportation segment.
09:05 EDTCATOn The Fly: Pre-market Movers
HIGHER: Arrowhead Research (ARWR), up 35% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection... Conatus Pharmaceuticals (CNAT), up 19% after the company's Phase 2 Portal Hypertension clinical trial of emricasan met its primary endpoints... Keryx Biopharmaceuticals (KERX), up 13% after announcing that the European Commission has approved Fexeric for the control of elevated serum phosphorus levels, or hyperphosphatemia, in adults with chronic kidney disease. LOWER: Caterpillar (CAT), down 5% after announcing restructuring plans, lowering revenue guidance, and having stock initiated with a Sell rating and a $28 price target at Axiom... Twitter (TWTR), down 1.5% after Citi cut estimates below consensus and lowered its price target to $30. DOWN AFTER EARNINGS: Worthington (WOR), down 12.5%... Accenture (ACN), down 3%.
09:04 EDTCATCaterpillar expects FY15 decline in revenue outlook to impact Q3 and Q4
09:03 EDTCATCaterpillar sees FY16 revenue to be 5% below FY15, consensus $47.36B
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09:03 EDTCATCaterpillar cuts FY15 revenue $48B from $49B, consensus $48.82B
09:03 EDTCATCaterpillar to reduce workforce by 4,000-5,000 people between now and 2016-end
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09:02 EDTCATCaterpillar announces restructuring plans to lower costs by $1.5B annually
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08:04 EDTUTXLockheed Martin reports expiration of HSR waiting period for Sikorsky deal
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07:31 EDTCATAxiom initiates Caterpillar with a Sell, sees 60% downside potential
Axiom analyst Gordon Johnson II initiated Caterpillar with a Sell rating, saying that two of the company's three core businesses are struggling and he believes near-term strength in the company's Construction business is transient. Johnson thinks China's stimulus measures and near-zero interest rates have allowed Caterpillar to "stuff the channel" for the past five years, but with both tailwinds moderating, the analyst projects that the company's calendar 2016 EPS will fall to $2.79, far below the Street consensus view of $4.53. The analyst set a $28 price target on the stock, which represents about 60% downside from Caterpillar's closing price of $70.20 yesterday.
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