Capital Goods Machinery

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  • According to Caterpillar, the largest decline in machinery sales was in Latin America, down 38 percent from a year ago. "The demand environment continues to be weak in Latin America," Lawrence De Maria, an analyst at William Blair said in a research note. Total machinery sales were also down 12 percent in North America, down 7 percent in the Asia Pacific region, and down...

  • July 22- Farm equipment maker Deere& Co said on Friday it would lay off about 120 production employees at its John Deere Harvester Works factory in east Moline, Illinois from Sept. 6. The factory has about 1,050 production employees, the company said. Deere said it continued to adjust its production workforce according to demand for products manufactured at each...

  • Intel Corp., down $1.42 to $34.27. Joy Global Inc., up $4.65 to $28.20. The mining equipment company agreed to be bought by Japanese machinery maker Komatsu for $3.7 billion, or $28.30 per share.

  • NEW YORK— Japan's Komatsu is buying mining equipment maker Joy Global in a deal worth about $3.7 billion. Joy Global Inc. stockholders will receive $28.30 per share in cash, a 21 percent premium to the Milwaukee company's Wednesday closing price of $23.30. Komatsu Ltd. said that it plans to keep Joy Global as a separate subsidiary.

  • SHANGHAI, July 14- China stocks were lower on Thursday after trade data showing weak commodity imports hurt mining, metals and industrial companies, while Hong Kong share markets were subdued. In the Shanghai and Shenzhen markets, metals, mining and machinery stocks led indexes lower, with the CSI300 materials sub-index down 1.2 percent. Julia Wang, Greater...

  • Will a robot take your job?

    Brett King, Moven Founder & CEO and "Augmented: Life in the Smart Lane" author, discusses the future of artificial intelligence and automation in the workforce.

  • TOKYO, June 30- Japan's industrial output fell in May at the fastest rate in three months, highlighting concerns about falling exports and doubts about weak consumer spending. Output fell in May due to declines in the production of chemicals, cosmetics, construction equipment and semiconductors, data from the Ministry of Economy, Trade and Industry showed.

  • June 28- Volkswagen AG's $15.3 billion settlement of allegations that it cheated on diesel engine pollution tests promises a substantial boost for federal and state efforts to expand electric vehicle sales, and could also help producers of commercial trucks and buses and other heavy equipment. Volkswagen has agreed to put $2.7 billion over three years into...

  • June 2- Mining equipment maker Joy Global Inc reported a 25.7 percent slump in quarterly revenue, hurt by continued spending cuts by its customers amid a commodities rout. The company reported a loss from continuing operations of $15.3 million, or 16 cents per share, in the second quarter ended April 29, compared with a profit of $56 million, or 57 cents per share, a...

  • HONG KONG, May 27- China's Zoomlion Heavy Industry Science and Technology Co Ltd said on Friday it has terminated talks to buy crane maker Terex Corp, after failing to agree on terms. Zoomlion, a construction machinery maker, and Finland's Konecranes had both bid for Terex to help them better cope with cooling Chinese and weak European demand.

  • JOHANNESBURG, May 16- South Africa's Barloworld reported a 9 percent fall in half-year profit on Monday as a slowdown in mining activity hurt its equipment business in southern Africa. Barloworld, the largest dealer of Caterpillar Inc mining trucks in southern Africa, said headline earnings per share fell to 335 cents in the six months ended March compared...

  • *Machinery orders data due at 2350 GMT on Wed. TOKYO, May 13- Japan's machinery orders are expected to have rebounded only slightly in March, a Reuters poll showed, indicating firms remain cautious about their business investments on worries about economic prospects. "The yen's appreciation has progressed, which has made the environment for corporate earnings...

  • *China's economy shows signs of a pick up. BEIJING/ SINGAPORE, April 25- Caterpillar Inc, the world's largest maker of heavy equipment, has raised hopes that China's battered construction sector may be showing signs of life, pointing to its strongest post-holiday period in three years after a government boost. Ahead of a key week for the heavy equipment sector, with...

  • The company said it expects 2016 sales in a range of $40 billion to $42 billion against a previously forecast $40 billion to $44 billion. Caterpillar now expects 2016 earnings per share at $3.00, or $3.70 per share excluding restructuring costs. The world's largest heavy machinery manufacturer reported a net income of $494 million, or 67 cents per share in the...

  • HELSINKI, April 22- Finnish engineering group Metso posted a lower-than-expected quarterly profit and new orders on Friday as miners delayed buying its grinding mills and crushers. Nordic mining equipment makers are struggling as mining groups cut spending due to low metal prices and uncertainty over growth in top metals consumer China.

  • SANTIAGO/ WINNIPEG, April 6- As slumping metals prices force miners to scale back production, the scramble by some to sell idled equipment at a discount is producing bargains for healthier players. Mantos Copper, a unit of investment firm Audley Capital, which bought two Chilean copper mines last year from Anglo American, is among those reaping the benefits.

  • WINNIPEG/ SANTIAGO, April 6- Dealers of used mining equipment, from the United States to Chile and Australia, are making a risky bet that an end to the industry's four-year slump may be in sight, stocking up on a glut of crushers and conveyors. A used 20- ton Komatsu Ltd bulldozer that sold for nearly $130,000 a few years back, now leaves the lot for $100,000, for example.

  • March 17- Caterpillar Inc, the world's No. 1 maker of construction and mining equipment, forecast first-quarter profit and revenue well below Wall Street expectations on Thursday, prompting questions from some analysts on its full-year outlook. It said it expects first quarter 2016 sales and revenue to be in a range of $9.3 billion to $9.4 billion.

  • March 17- Caterpillar Inc, the world's No. 1 maker of construction and mining equipment, forecast first-quarter profit and revenue well below Wall Street expectations but said it "remained comfortable" with its full-year sales and profit outlook. Caterpillar, whose shares were down slightly at $74.09 in early trading, said it expected a profit of 65- 70 cents per...

  • *Jan core orders +15.0 pct m/m vs forecast +3.0 pct. TOKYO, March 14- Japan's core machinery orders jumped in January, inflated by large orders from the steel industry, but economists say excluding this factor orders were probably flat from the previous month. "Excluding orders from the steel industry, machinery orders were likely flat compared to the previous...