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Machinery

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  • *Bradken rejects cut-price offer, third in less than a year. SYDNEY, April 2- Koch Industries Inc and Pacific Equity Partners have made a $325 million approach for Australia's Bradken Ltd- half the price of bids it received last year and one that was summarily knocked back by the mining equipment maker. Bradken said the proposal did not represent fair value and it...

  • *Jan machinery orders -1.7 pct vs f'cast -4.1 pct. TOKYO, March 11- Japan's core machinery orders fell 1.7 percent in January from the previous month, underscoring the challenges facing the government as it attempts to nudge firms into boosting spending on wages and equipment with its aggressive stimulus policies. "Capital spending is recovering, although at a...

  • *Jan machinery orders -1.7 pct vs f'cast -4.1 pct. TOKYO, March 11- Japan's core machinery orders fell 1.7 percent in January, suggesting that companies remain reluctant to increase capital expenditure given the uncertain economic outlook. The data underscores the challenges Prime Minister Shinzo Abe and the Bank of Japan face as they attempt to nudge firms...

  • ATHENS, Feb 25- Greece's new left-wing government will not block Canadian firm Eldorado Gold Corp.' s mining operations in the country's north but will review permits for a processing plant at the site, a senior energy ministry official said on Wednesday. "The mining will not stop," the official told reporters, a day after Greece climbed down from pledges to halt...

  • CHICAGO, Feb 23- Across the U.S. Many rent payments- which vary from a few thousand dollars for a tiny farm to millions for a major operation- are due on March 1, just weeks after the U.S. Department of Agriculture estimated net farm income, which peaked at $129 billion in 2013, could slide by almost a third this year to $74 billion. In Iowa, the nation's top corn and soybean...

  • Feb 20- Farm equipment maker Deere& Co posted a 43 percent fall in first-quarter profit and cut its full-year profit forecast as lower corn prices and weak farm income weighed on demand for agricultural machinery. The company also has operations in Canada, Brazil, China, France, Germany, India, Russia and South Africa among others. The United States and Canada...

  • Feb 20- Farm equipment maker Deere& Co posted a 43 percent fall in quarterly profit on Friday, hurt by a decline in sales of tractors, harvesters and other farm machinery. Net income attributable to Deere fell to $387 million, or $1.12 per share, in the first quarter ended Jan. 31, from $681 million, or $1.81 per share, a year earlier. Sales fell 16.6 percent to $6.38 billion.

  • NEW YORK, Feb 17- Warren Buffett's Berkshire Hathaway Inc on Tuesday disclosed a new stake in agricultural and construction equipment maker Deere& Co, one of a handful of changes in its stock holdings during the fourth quarter. Berkshire reported a 17.1 million-share stake, according to a U.S. Securities and Exchange Commission filing that detailed its...

  • *Dec core machinery orders +8.3 pct vs f'cast +2.4 pct. TOKYO, Feb 12- Japan's core machinery orders rose in December at the fastest pace in six months, and companies expect orders to increase in the current quarter in an positive sign that business investment will underpin a firm recovery for the recession-hit economy. "Corporate earnings have been good recently,...

  • Here's a positive sign for corporate Japan   Wednesday, 11 Feb 2015 | 7:20 PM ET
    Here's a positive sign for corporate Japan

    Peter Boardman, managing director at Tradewinds, says the jump in December's core machinery orders before the implementation of a corporate tax cut, signals a positive outlook for corporate Japan.

  • Caterpillar stuck in a value trap: Analyst   Tuesday, 27 Jan 2015 | 10:14 PM ET
    Caterpillar stuck in a value trap: Analyst

    Eli Lustgarten, Senior Research Analyst at Longbow Research, says the company's yield is a major advantage but there remains no short-term catalyst to take the stock higher.

  • CHICAGO, Jan 27- Caterpillar Inc on Tuesday cut its 2015 profit outlook and warned the plunge in oil prices would hurt its energy equipment business, sending shares tumbling as much as 8 percent. During the fourth quarter, Caterpillar's energy business helped offset falling construction equipment sales and weakness in mining equipment orders due to lower...

  • CHICAGO, Jan 27- Caterpillar Inc on Tuesday cut its 2015 profit outlook and warned the plunge in oil prices would hurt its energy equipment business, sending shares tumbling as much as 8 percent. During the fourth quarter, Caterpillar's energy business helped offset weakness in mining equipment orders due to lower prices for copper, coal and iron ore and a drop in...

  • CHICAGO, Jan 27- Caterpillar Inc on Tuesday reported lower quarterly net profit that missed expectations as lower prices for copper, coal and iron ore hurt mining equipment orders, and warned the recent fall in oil prices would make for a difficult year in 2015.. Chief Executive Officer Doug Oberhelman said without a doubt Caterpillar faces a "tough year in 2015.".

  • CHICAGO, Jan 27- Construction and mining equipment maker Caterpillar Inc on Tuesday reported a lower net profit that came in below market expectations, as lower prices for copper, coal and iron ore hurt its mining business and warned the drop in oil prices would hurt its business in 2015.. The Peoria, Illinois- based company reported a fourth-quarter net profit of...

  • CHICAGO, Jan 26- Construction and mining equipment maker Caterpillar Inc on Tuesday reported a lower net profit that came in below market expectations, due primarily to the recent drop in the price of oil and lower prices for copper, coal and iron ore. The Peoria, Illinois- based company reported a fourth-quarter net profit of $757 million, down nearly 25 percent...

  • CHICAGO, Jan 23- Deere& Co, the world's largest maker of farm equipment, will lay off more than 900 employees at plants in Iowa and Illinois in the latest round of job cuts spurred by a decline in grain prices that is hurting demand for agricultural machinery. Iowa will be hit hardest by the reductions, with about 565 workers in Waterloo and 300 others in Ankeny slated...

  • *HSBC/ Markit Flash Manufacturing PMI at 49.8 in January. BEIJING, Jan 23- China's manufacturing growth stalled for the second straight month in January and companies had to cut prices at a faster clip to win new business, adding to worries about growing deflationary pressures in the economy, a private survey showed. "Today's data suggest that the manufacturing...

  • Joy Global revenue falls as miners cut output Wednesday, 17 Dec 2014 | 12:35 PM ET
    Joy Global mining machinery.

    Joy Global, which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in revenue as customers cut production.

  • Dec 16- Mining equipment maker Joy Global Inc, which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in quarterly revenue as customers cut production. Joy Global forecast a profit of $3.10- $3.50 per share for 2015, below the average analyst estimate of $3.57, according to Thomson Reuters I/B/E/S. Overall bookings at Joy Global...