The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Bank of America Merrill Lynch wasted no time in recommending clients rush out and buy one of the key companies affected by the China-U.S. trade war, now in a cease-fire
The firm on Monday upgraded shares of Caterpillar to buy from neutral and raised its 12-month price forecast on the stock to $163 from $140. Caterpillar shares jumped more than 4 percent in premarket trading to $141.50.
"We are still late in the cycle, but two key macro developments lead us to upgrade CAT at 10.9x 2019E EPS and an 8% FCF yield. First, Fed Chairman Jerome Powell seemed less hawkish last week on the future path of interest rate increases, and 2) the US-China agreed to a temporary cease fire on additional US tariff increases," BofAML analyst Ross Gilardi said in a note to investors.
"We see 20 percent upside potential," he added.
President Donald Trump and Chinese President Xi Jinping met for dinner on Saturday at the G-20 summit in Argentina and agreed to hold off on additional tariffs on each other's goods at the start of the new year to allow for talks to continue for 90 days. The U.S. agreed to leave tariffs on more than $200 billion worth of Chinese products at 10 percent.
In the meantime, Caterpillar may get some direct help from the weekend talks because China agreed to purchase a "substantial" amount of agricultural, energy, and industrial U.S. products.
The temporary agreement boosted crude oil, with WTI futures jumping 4 percent.
"Caterpillar's share price is highly correlated with crude oil prices and crude is down over 30 percent since early October," Gilardi said. "Some combination of global demand improvement and/or supply curtailments could propel CAT higher if WTI starts to recover."