Capital Goods Machinery

  • Shares of Deere were up 11.6 percent at $85.84 in afternoon trading. The company said it expected production hours to be down 60 percent this quarter at its East Moline, Illinois, combine factory and planned to reduce them by 20 percent at its Waterloo, Iowa, tractor plant. Deere increased its fiscal-year earnings outlook to $1.35 billion from $1.2 billion.

  • The U.S. farm economy is in its third down year, with the U.S. Department of Agriculture forecasting a 3 percent drop in nationwide income to $54.8 billion in 2016. About 2,000 employees in its Midwestern factories have been on indefinite layoff since 2014, spokesman Ken Golden said. Net income fell 4.5 percent to $488.8 million in the third quarter ended on July...

  • The U.S. farm economy is in its third down year, with the U.S. Department of Agriculture forecasting a 3 percent drop in nationwide income to $54.8 billion in 2016. About 2,000 employees in its Midwestern factories have been on indefinite layoff since 2014, spokesman Ken Golden said. Net income fell 4.5 percent to $488.8 million in the third quarter ended on July...

  • Aug 18- Caterpillar Inc said on Thursday it would explore options, including a possible divestiture for some of its mining products, and would stop taking orders for machinery specific to underground soft rock mining. Chief Executive Office Doug Oberhelman said last month he was not expecting an upturn in mining or oil in 2016.. Some of the natural fits have also...

  • Aug 18- Caterpillar Inc, the world's No. 1 maker of construction and mining equipment, said on Thursday it would explore options, including a possible divestiture, for some of its mining products. The company said it expects to cut up to 155 jobs in the room and pillar business, which caters to underground soft rock mining customers. Caterpillar said it would also...

  • BUENOS AIRES, Aug 11- At a recent agricultural fair in Argentina, manufacturers of threshers, tractors and harvesting combines did so well that some encountered an unusual problem in an economy hit by recession and high inflation-- excess demand. Despite plenty of gloom about Argentina's economy, there are signs of green shoots in other areas of the economy as...

  • Japan's core machinery orders rose 8.3 percent in June from the previous month, in a sign that capital expenditure was starting to recover.

  • *Weekly jobless claims increase 3,000. WASHINGTON, Aug 4- The number of Americans filing for unemployment benefits unexpectedly rose last week, while renewed job cuts in the energy sector boosted layoffs announced by U.S.-based employers in July. For two months now, new orders for mining and oil and gas field equipment were up, "said Joel Naroff, chief economist at...

  • BOSTON, July 28- Activist hedge fund Marcato Capital Management announced its second big investment in a week on Thursday, saying it snapped up a 5.1 percent stake in crane and heavy equipment manufacturer Terex Corp.. Hepler specialized in industrials while working for famed activist investor Ralph Whitworth's Relational Investors.

  • Caterpillar said global uncertainty persists, and the recent vote in Britain to leave the European Union and the attempted coup in Turkey have heightened risks, especially in Europe. The world's largest construction and mining equipment maker, lowered its full-year 2016 sales outlook to a range of $40 billion to $40.5 billion, from $40 billion to $42 billion.

  • The company's $1.09 in earnings per share, excluding restructuring costs, was better than analysts' expectations of 96 cents, but below a revised $1.40 a year ago. The world's largest construction and mining equipment maker lowered its full-year 2016 sales outlook to a range of $40 billion to $40.5 billion, from $40 billion to $42 billion. Caterpillar expects...

  • The company, the world's largest construction and mining equipment maker, lowered its full-year 2016 sales outlook to a range of $40 billion to $40.5 billion, from $40 billion to $42 billion. Caterpillar expects earnings of $2.75 per share, or $3.55 excluding restructuring costs, from $3.00, or $3.70 excluding restructuring costs. Caterpillar reported...

  • 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...

  • 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.