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Capital Goods Machinery

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  • Aug 21- Deere& Co reported that third-quarter profit tumbled 40 percent on weak demand for agricultural equipment and a stronger dollar, and gave a bleaker forecast for fourth-quarter equipment sales, sending shares sliding more than 8 percent. Farm and turf equipment sales, which account for more than two-thirds of total revenue, fell 24 percent to $5.31...

  • Aug 21- Deere& Co on Friday reported that third-quarter profit tumbled 40 percent on weak demand for agricultural equipment, overall lower shipment volumes and a stronger dollar, and gave a bleaker forecast for fourth-quarter sales. "John Deere's third-quarter results reflected the continuing impact of the downturn in the farm economy as well as lower demand...

  • Aug 21- Deere& Co, the maker of John Deere tractors, reported a 40 percent fall in quarterly profit, hurt by weak demand for its agriculture equipment. Net income attributable to Deere fell to $511.6 million, or $1.53 per share, in the third quarter ended July 31 from $850.7 million, or $2.33 per share, a year earlier. Deere's farm and turf equipment sales, which account...

  • UPDATE 1-Greece halts activity at Canadian-run gold mine Wednesday, 19 Aug 2015 | 10:36 AM ET

    ATHENS, Aug 19- Greece has suspended the mining operations of Canada's Eldorado Gold in northern Greece, saying the company violated contract terms, in a setback to one of the top foreign investment projects in the country. The $1 billion project is considered a test case for Greece's ability to attract foreign investment to help revive its economy, but has been...

  • Agritourism growth sparks concerns over safety, liability Saturday, 15 Aug 2015 | 10:48 AM ET

    Farming is one of the more dangerous occupations in the U.S. mostly due to the machinery and equipment, according the Centers for Disease Control and Prevention. It isn't known how many agritourism-related injuries have occurred in the U.S., said Marsha Salzwedel, an agritourism safety specialist with the National Children's Center for Rural and...

  • *All-stock merger, Terex shareholders to get 60 pct. HELSINKI, Aug 11- U.S. cranes and mining equipment maker Terex and Finnish rival Konecranes have agreed an all-share merger, hoping a combined $10 billion in annual revenues will help them better cope with cooling Chinese and weak European demand. Terex shareholders will own 60 percent of the enlarged company,...

  • CARACAS, Aug 6- Chinese construction machinery maker Sany Heavy Industry Co Ltd is willing to help Venezuela and state oil company PDVSA sell bonds in China and in Asia, Sany chairman Liang Wengen said during a visit to Caracas on Thursday. Sany provides construction equipment to Venezuela through a bilateral oil-for-loans financing scheme under which...

  • HARARE, July 29- Metallon Corp, the biggest gold producer in Zimbabwe, said it missed its first-half output target by 19 percent due to equipment breakdowns, in another setback for the country's mining sector, which has been hit by slumping commodities prices. London- based Metallon, which is not listed, owns fives mines in Zimbabwe, three operational and two which...

  • MAPUTO, July 27- A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale's effort to start coal shipments from the African nation in the third quarter, sources told Reuters on Monday. The giant piece of machinery, which is used to handle coal and other bulk materials, buckled last week, according to a mining industry...

  • *Caterpillar falls after lower quarterly profit. Caterpillar shares fell 2.73 percent to $77.65 in premarket trading after the world's largest construction and mining equipment maker reported a lower quarterly net profit as sales declined in key markets in a sluggish global economy. "Companies such as Caterpillar is a litmus test for the global economy...

  • "Reports continued to reflect decreases in oil and natural gas drilling activity in Cleveland, Minneapolis, Kansas City, and Dallas," the Fed said. "Reports of capital spending declines continued in Cleveland, Atlanta, and Dallas, resulting in some labor cutbacks in Atlanta and Dallas." It said heavy machinery manufacturers in Chicago noted weak demand from the oil...

  • *GPS, IT systems lifting yields, shedding jobs. VILJOENSKROON, South Africa, July 6- South African farmer Cobus van Coller scans the flashing computer screen in the cab of his harvester. As a result of these two new methods, which are revolutionising agriculture globally, South Africa is growing more food with less manpower-- a trend with profound social and...

  • 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.