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. » Read More
LISLE, Ill., March 2- Navistar International Corp Chief Executive Troy Clarke is pushing the door open for potential deals as he fights to keep the truck maker's turnaround on track amid a U.S. sales slump. Navistar, under Clarke, agreed to manufacture a line of medium-duty trucks for the CEO's former employer, General Motors Co, due to launch in 2018 for sale through...
Deere shares were up about 0.06 percent at $79.66 and Caterpillar shares were 0.74 percent higher at $66.93 in late afternoon trading. Deere, a leading maker of farm and construction equipment, said 100 employees represented by the United Auto Workers will be laid off indefinitely starting April 1 at two factories in Iowa that make construction and forestry...
The world's largest construction and mining equipment maker will create an Electric Power, Marine and Oil& Gas Division by consolidating the Electric Power and Marine& Petroleum Power Divisions, it said on Wednesday. Steve Niehuas, currently vice president of the Electric Power Division will retire after 27 years with the company. We'll evaluate those in the...
CHICAGO, Feb 22- Steve Irish used to farm 450 acres of rich crop fields in east-central Illinois, but that 15- year chapter of his life ended with a recent conversation with his banker. Irish was deep in debt from the farm equipment he bought, and needed to pay back the money he owed. So now Irish's tractor, combine and other machinery needed to run a grain farm is up for...
Feb 18- Canada's Finning International Inc, the world's biggest dealer of Caterpillar Inc equipment, swung to a quarterly loss and said it would cut more jobs. The company, which has been hurt by lower demand from the mining, energy and construction industries, posted a net loss of C $309 million, or C $1.82 per share, for the fourth quarter ended Dec. 31.
LOUISVILLE, Ky., Feb 17- Nathan Applebee's family in Seneca, Illinois has farmed using John Deere equipment since the 1930 s. "I have what I need," Applebee, 32, said after checking out a $355,000 Deere 8345 R tractor, with a 345 horsepower engine, and the latest in digital connectivity to enable precision planting. The Department of Agriculture has estimated U.S. net...
The markets may look like they’re running amok heading into the lunar new year but not for long, predicts brokerage CLSA.
Machinery stock analyst Ann Duignan of J.P. Morgan talks about how China and currencies impact Caterpillar's results.
Doug Oberhelman, Caterpillar chairman & CEO, talks about the long-term outlook in China and provides his thoughts on commodity prices.
Doug Oberhelman, Caterpillar chairman & CEO, discusses the company's quarterly results and "soft markets" in oil and commodities around the world.
CNBC discusses the Bank of Jinzhou float with Ken Wong, Asia equity portfolio specialist at Eastspring Investments and Ken Peng, Asia investment strategist at Citi Private Bank.
Deere posted a sharp drop in earnings on Wednesday and forecast a further slump in agriculture and construction equipment sales in its new year.
Data from Japan's manufacturing sector, hit by China's slowdown, underscores the need for further reforms, says Alex Treves, head of Japan equities at Fidelity Worldwide Investment.
The spotlight in Asia is on Japan, where investors anticipate new economic data and the Bank of Japan's policy decision.
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 rose 2.9 percent on month in March, slightly better than the 1.8 percent forecast from a Reuters poll of economists.
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.
Peter Boardman, managing director at Tradewinds, says the jump in December's core machinery orders before the implementation of a corporate tax cut, signals a positive outlook for corporate Japan.
Eli Lustgarten, Senior Research Analyst at Longbow Research, says the company's yield is a major advantage but there remains no short-term catalyst to take the stock higher.
Joy Global, which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in revenue as customers cut production.