Stocks to Watch: CAT, OKE, BWLD & More
Senior Producer, CNBC
Take a look at some of Tuesday’s morning movers:
Caterpillar - The company is cutting its 2015 earnings forecast because of a slow economic recovery. Caterpillar now expects to earn $12 — $18 per share for 2015, down from its prior forecast of $15 — $20 per share.
Oneok - The energy company said it expects earnings to rise by 19 percent in 2013, due to new projects being placed into service, and greater volumes for its publicly traded natural gas subsidiary, Oneok Partners.
Berkshire Hathaway - Warren Buffet's company has exercised warrants that give it a 17 percent stake in Media General. Berkshire acquired those warrants earlier this year in a deal that provided $445 million in financing for the media company.
Buffalo Wild Wings - The restaurant operator's shares have been upgraded to "outperform" from "sector perform" at RBC Capital Markets. The firm said chicken-based restaurants aren't expecting material inflation next year, and that same-store sales trends are strong.
TiVo - Lazard Capital Markets has upgraded TiVo shares to "buy" from "neutral," with Monday's Verizon Communications settlement makes a settlement in a similar case with Motorola more likely — events that should add value to TiVo's stock.
ADT - The security company's stock will replace Lexmark International in the S&P 500 index , with Lexmark replacing RadioShack in the S&P MidCap 400.
Pentair - The pipe and filter maker's stock will replace DeVry in the S&P 500, with DeVry moving to the S&P MidCap 400.
Sanofi - Sanofi said it may cut 900 jobs in France by 2015, but that’s smaller than the 2,500 predicted by unions as the drugmaker revamps its operations.
Google - Google has launched its Nexus 7 tablet in Japan, along with Japanese language downloadable content, hoping to cash in on one of the world’s biggest markets for digital downloads.
Hewlett-Packard - HP has lost a tax case in which it challenged an Internal Revenue Service ruling involving calculation of a research tax credit. It will now owe an additional amount of tax in the tens of millions of dollars.
Red Hat - Red Hat has narrowed its full-year revenue forecast, now seeing fiscal 2013 revenue of $1.32 billion to $1.33 billion. Its prior forecast called for revenue of up to $1.34 billion. The Linux software provider’s full-year earnings forecast, however, remains unchanged at $1.16 to $1.20 per share.
Tesla Motors - Tesla's shares are under pressure as it announces plans to sell 4.34 million new common shares to raise funds. CEO Elon Musk has agreed to buy up to $1 million in shares. Separately, Tesla has unveiled a faster, solar-powered charging station designed to speed up the process of refueling electric vehicles. The new charging station has been installed at six highway rest stops in California. The electric car maker also cut its 2012 revenue forecast, citing a slower than expected rollout of its Model S sedan.
Paychex - UBS has downgraded the payroll services provider's stock to "neutral" from "buy" on a valuation basis.
—By CNBC’s Peter Schacknow
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