Farm & Construction Machinery

(CAT) Caterpillar’s April Sales Down 9%

Sales worries continue for Caterpillar Inc. (CAT) as worldwide sales of the construction and mining equipment behemoth declined 9% for the three months ending Apr 2013. This marked the fifth consecutive month of declining sales following...

26Jul2013 | | Comments Off on (CAT) Caterpillar’s April Sales Down 9% | Continued

(CAT) Caterpillar Resolves ERA Aquisition Issues

Caterpillar Inc. (CAT) announced the resolution of its outstanding issues with Mining Machinery Limited regarding Caterpillar’s acquisition of ERA, including its wholly-owned subsidiary Zhengzhou Siwei Mechanical & Electrical...

2Jul2013 | | Comments Off on (CAT) Caterpillar Resolves ERA Aquisition Issues | Continued

(CAT) Caterpillar to Underperform

We have maintained our underperform recommendation on Caterpillar Inc. (CAT), leading manufacturer of construction and mining equipment, given its lackluster first quarter results, trimmed outlook for 2013, weak demand for its mining...

12Jun2013 | | Comments Off on (CAT) Caterpillar to Underperform | Continued

(CAT) Joy Global Poised at Neutral

On May 15, we reiterated our Neutral recommendation on Joy Global Inc. (JOY), the manufacturer of mining equipment used in various types of mining. The company currently has a Zacks Rank #4 (Sell).

Why the Reiteration?

Joy...

20May2013 | | Comments Off on (CAT) Joy Global Poised at Neutral | Continued

(CNH) CNH Global NV Beats on Earnings

Industrial goods manufacturer CNH Global NV (CNH) reported a net income (excluding restructuring and exceptional items) of $326 million or $1.33 per share in first quarter 2013 compared with $269 million or $1.11 per share in the year-ago...

14May2013 | | Comments Off on (CNH) CNH Global NV Beats on Earnings | Continued

(DE) Deere & Company Outperforms Industry in March

Shares of Deere & Company (DE), producer of agricultural and forestry equipment and construction equipment, went up 1% following the announcement of above-industry March sales growth across the board.

To elaborate, in the...

21Apr2013 | | Comments Off on (DE) Deere & Company Outperforms Industry in March | Continued

(CAT) Caterpillar to Cut Jobs in Milwaukee

Caterpillar Inc. (CAT) is reportedly laying off around 300 workers or 40% of its South Milwaukee production work force by June citing lower sales as the reason.

The company stated that various company locations are facing short-term...

4Apr2013 | | Comments Off on (CAT) Caterpillar to Cut Jobs in Milwaukee | Continued

(CAT) Caterpillar to Cut Jobs in Belgium

Caterpillar Inc. (CAT) is contemplating to cut 1,400 jobs at its Belgium plant due to high costs and weak European economy.

The plant, located near Charleroi in Belgium, is one of Caterpillar’s largest facilities in Europe....

3Mar2013 | | Comments Off on (CAT) Caterpillar to Cut Jobs in Belgium | Continued

(CAT) Caterpillar Down to Underperform

On Feb 22, we downgraded our recommendation from Neutral to Underperform on Caterpillar Inc. (CAT), leading manufacturer of construction and mining equipment, given the impact on its margin due to the ongoing inventory correction,...

26Feb2013 | | Comments Off on (CAT) Caterpillar Down to Underperform | Continued

(LNN) Lindsay Corporation Upped to Strong Buy

On January 9, Zacks Equity Research upgraded Lindsay Corporation (LNN) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
On Jan 8, Lindsay Corporation reported impressive...

15Jan2013 | | Comments Off on (LNN) Lindsay Corporation Upped to Strong Buy | Continued

(CAT) Stock Market News for October 26, 2012 – Market News

Benchmarks added paltry gains following a batch of mixed earnings releases and positive domestic and international economic data. This was only the second day this week that benchmarks managed to register modest gains. Meanwhile, the U.S. Labor Department said the number of American filing for unemployment...

26Oct2012 | | Comments Off on (CAT) Stock Market News for October 26, 2012 – Market News | Continued

(CAT) Caterpillar Announces Price Hike

Caterpillar Inc. (CAT), the world’s largest manufacturer of construction and mining equipment, has implemented a price increase of up to 3% on most of its machines across the world, citing current industry factors and general...

9Oct2012 | | Comments Off on (CAT) Caterpillar Announces Price Hike | Continued

(DE) Deere & Company 2012 Second Quarter Earnings Preview

Deere & Company (DE) is scheduled to announce its second quarter fiscal 2012 results on May 16, 2012. The current Zacks Consensus Estimate is $2.54 for the quarter, projecting year-over-year growth of 12.06%. The estimates in the...

28May2012 | | Comments Off on (DE) Deere & Company 2012 Second Quarter Earnings Preview | Continued

(CAT) Caterpillar Receives Approval for ERA Mining Machinery Limited Buy

Caterpillar Inc. (CAT) has received a go-ahead from the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) for the acquisition of China-based underground coal mining equipment manufacturer ERA Mining Machinery...

26Apr2012 | | Comments Off on (CAT) Caterpillar Receives Approval for ERA Mining Machinery Limited Buy | Continued

(CAT) Caterpillar Buys Japanese Distributor

In yet another effort to enhance its business in Japan, Caterpillar Inc. (CAT) announced that Caterpillar Japan Ltd. has acquired Caterpillar Tohoku Ltd. Caterpillar Tohuku’s 400 employees and its three subsidiaries will now come...

7Mar2012 | | Comments Off on (CAT) Caterpillar Buys Japanese Distributor | Continued

(DE) Deere & Company Raises Dividend

Deere & Company (DE) has upped its quarterly dividend by 5 cents to 46 cents. This marks the tenth consecutive year of the company’s dividend hike. The increased dividend will be payable on May 1, 2012 to shareholders of record...

2Mar2012 | | Comments Off on (DE) Deere & Company Raises Dividend | Continued

(TEX) Terex Tops Estimates

Terex Corp. (TEX) reported fourth quarter adjusted EPS of 26 cents, versus 20 cents in the year-ago quarter. The EPS was a penny ahead of the Zacks Consensus Estimate.

Excluding the special items in both periods; Terex reported...

17Feb2012 | | 0 comments | Continued

(CAT) Caterpillar Exceeds Forecasts on Record Sales

Caterpillar Inc. (CAT) posted an impressive 53% increase in profit to $2.25 per share in the fourth quarter of 2011 from $1.47 per share in the same quarter of 2010, excluding the impact of acquisition of Bucyrus International, Inc....

30Jan2012 | | 0 comments | Continued

(CAT) Good News Starts with Caterpillar

The deluge of this morning’s favorable economic and earnings reports should help stocks sustain Wednesday’s Fed-inspired gains. We got positive weekly Initial Jobless Claims numbers and a better-than-expected Durable Goods Orders reading. On the earnings front, Caterpillar’s...

30Jan2012 | | 0 comments | Continued

(CAT) Caterpillar Incorporated – Bull of the Day

Caterpillar, Inc. (CAT) posted an impressive third quarter with record EPS of $1.93 and sales of $14.6 billion driven by increased machine demand and continued economic growth. Results were ahead of Zacks Consensus Estimates. With...

24Jan2012 | | 0 comments | Continued

(AGCO) AGCO Corporation – Bull of the Day

Driven by strong global demand for agricultural equipment, AGCO Corporation (AGCO) reported third quarter EPS of $0.87 versus $0.66 in the year-earlier quarter, surpassing the Zacks Consensus Estimate of $0.75. For fiscal 2011, AGCO...

30Dec2011 | | 0 comments | Continued

(CAT) Caterpillar Grows Indian Connection

Caterpillar Inc. (CAT) is planning to invest $212 million in India to meet the increasing demand for its products due to road construction and overall infrastructure boom in the country.

The plan includes building a new $150...

14Dec2011 | | 0 comments | Continued

(AGCO) AGCO Issues Debt to Fund GSI Holdings Buy

AGCO Corporation (AGCO) has priced an offering of $300 million of its 5.875% Senior Notes due 2021 to partly finance the acquisition of GSI Holdings Corp.

The notes were priced at 100% of par value and the offering is expected...

30Nov2011 | | 0 comments | Continued

(DE) Deere & Company Earnings Preview

Deere & Company (DE) is scheduled to announce its fourth quarter and fiscal 2011 results on November 23, 2011. The current Zacks Consensus Estimate is $1.44 for the fourth quarter and $6.44 for fiscal 2011, projecting year-over-year...

28Nov2011 | | 0 comments | Continued

(CAT) Caterpillar’s Sales Growth Dips

Caterpillar Inc. (CAT) recently reported sales statistics for the three months ending October 31, with machine sales increasing 31% on a year-over-year basis and engine sales rising 13% across the globe.

The 31% sales growth...

23Nov2011 | | 0 comments | Continued

(CAT) Caterpillar Redeems Debt

Caterpillar Inc. (CAT) has redeemed notes issued earlier by Caterpillar Financial Services, for a total amount of $22.622 million. The company decided to redeem 100% of the remaining amount by exercising the call option. The notes...

20Sep2011 | | 0 comments | Continued

(CAT) Stock Market News for August 8, 2011 – Market News

The Dow Jones Industrial Average see-sawed between positive and negative territory, while the markets finished mixed on Friday amid global economic concerns. Encouraging economic reports helped the markets prevent another heavy slide on the closing day of the week, but they were not strong enough...

8Aug2011 | | 0 comments | Continued

(CAT) Caterpillar to Expand in China

Caterpillar Inc. (CAT) recently announced its intention to open a new facility in Xuzhou, Jiangsu Province of China. The construction will commence in 2011, while the main facility construction is scheduled for mid-2012. The facility...

5Aug2011 | | 0 comments | Continued

(CAT) Caterpillar Signs Australian Memorandum of Understanding

Caterpillar Inc. (CAT) along with its dealer WesTrac recently signed a Memorandum of Understanding (MoU) with Perth, Australia based Fortescue Metals Group, to implement an autonomous mining solution, that enhances productivity and...

6Jul2011 | | 0 comments | Continued

(TEX) Terex Fulfills Minimum Tender Offer

Terex Corp. (TEX) recently announced that the company has successfully achieved the minimum tender condition for Demag Cranes. The company offered €45.50 per share to Demag shareholders, which has exceeded the minimum requirement...

5Jul2011 | | 0 comments | Continued