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Machinery

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  • PARIS, June 16- Lockheed Martin Corp on Tuesday named a private firm, Hybrid Enterprises LLC, as the exclusive sales agent for its Hybrid Airships, a new type of aircraft that company officials say could revolutionize the way oil and mining companies haul equipment to the Arctic and other remote areas without roads. Rob Binns, chief executive officer of Hybrid...

  • June 4- Mining equipment maker Joy Global Inc reported a quarterly profit that nearly halved as customers cut spending due to weak prices. Joy Global had forecast earnings of $2.50- $3.00 per share on revenue of $3.3 billion- $3.6 billion for the year. Sluggish demand from Europe and Asia, especially China, has also weighed on metallurgical or steel-making coal.

  • June 4- Mining equipment maker Joy Global Inc, which gets about 60 percent of its revenue from coal miners, reported a 48 percent fall in quarterly profit as customers cut spending due to weak prices. Net income fell to $38.7 million, or 40 cents per share, in the second quarter ended May 1, from $74 million, or 73 cents per share, a year earlier. Excluding pension...

  • CHICAGO, May 22- Deere& Co on Friday reported a higher-than-expected quarterly profit and raised its full-year outlook after cost cuts helped compensate for weakening demand for its farm equipment. "We are pleased to see Deere management proactively attacking costs... amid the agriculture downturn," Edward Jones equity analyst Matt Arnold wrote in a note for...

  • CHICAGO, May 22- A weak global agriculture sector weighed heavily on quarterly results posted by Deere& Co on Friday, but earnings still topped expectations, and the farm equipment maker raised its full-year profit forecast despite a worsening sales outlook. Sales for agricultural equipment in the United States and Canada should fall about 25 percent this...

  • CHICAGO, May 22- Farm equipment maker Deere& Co posted a sharply lower quarterly net profit on Friday as a weak global agriculture sector hurt sales, but still came in handily above market expectations. The Moline, Illinois- based company reported a profit of $690.5 million, or $2.03 per share, for its second quarter ended April 30, down nearly 30 percent from $980.7...

  • LONDON, May 18- Top executives at one of the world's largest makers of construction machinery have said Britain could be better off outside the European Union, a contrast with the view of many businesses which favour remaining in the bloc. We could exist on our own, peacefully and sensibly, " Anthony Bamford, head of the family-owned JCB group and a major donor to...

  • Japan machinery orders will be a non-event: CIBC Sunday, 17 May 2015 | 7:54 PM ET
    Japan machinery orders will be a non-event: CIBC

    Patrick Bennett, FX strategist at CIBC, explains why Japanese markets will have a fairly muted reaction to Monday's machinery orders data and discusses the recent movements in dollar-yen.

  • Japan's machinery orders recover in March Sunday, 17 May 2015 | 7:53 PM ET

    Japan's machinery orders rose 2.9 percent on month in March, slightly better than the 1.8 percent forecast from a Reuters poll of economists.

  • Is your kid playing with your capex? Thursday, 14 May 2015 | 7:02 PM ET

    Companies – even new ones – appear to be skipping out on capex, but that spending may just not get counted because your kid is playing with it, UBS said.

  • *Atlas Copco, Commerzbank and UPM Kymmene among top fallers. LONDON, April 28- European equities fell on Tuesday following some weaker-than-expected corporate updates, with mining equipment group Atlas Copco sliding after results while a new share issue hit Commerzbank. UPM-Kymmene also fell around 10 percent after its quarterly core profit missed...

  • *Q1 order intake 25.5 bln SEK vs mean forecast 26.4 bln. STOCKHOLM, April 28- Sweden's Atlas Copco said on Wednesday that weak demand for its mining equipment and large compressors had slumped further in the first quarter, leaving its shares on track for their worst day in four years. Atlas and its peers in a Nordic cluster of mining gear suppliers, including...

  • REFILE-Caterpillar quarterly profit rises Thursday, 23 Apr 2015 | 8:34 AM ET

    CHICAGO, April 23- Caterpillar Inc on Thursday reported a higher quarterly net profit despite a dip in revenue, citing a boost from the strong U.S. dollar on imported goods, especially from Japan, and a pre-tax gain from the sale of a third-party logistics business. The world's largest construction and mining equipment maker reported first-quarter net income of...

  • Caterpillar quarterly profit rises Thursday, 23 Apr 2015 | 7:44 AM ET

    CHICAGO, April 22- Caterpillar Inc on Thursday reported a higher quarterly net profit despite a dip in revenue, citing a boost from the strong U.S. dollar on imported goods, especially from Japan, and a pre-tax gain from the sale of a third-party logistics business. The world's largest construction and mining equipment maker reported first-quarter net income of...

  • Nokia, miners help European shares reach new 14-year high Wednesday, 15 Apr 2015 | 5:27 AM ET

    *Nokia gains after deal, Alcatel-Lucent slips. LONDON, April 15- European shares touched a new 14- year high on Wednesday, with Nokia gaining after agreeing to buy rival telecom equipment maker Alcatel-Lucent, and firmer oil and metals prices boosting energy and mining stocks. Shares in Royal Dutch Shell, Tullow Oil and BP rose 0.8 to 2.4 percent.

  • *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...