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Capital Goods Machinery

  • *Caterpillar Q1 profits, revenue beat estimates. *Company upgrades 2018 outlook on strong global demand. CHICAGO, April 24- Caterpillar Inc's shares tumbled on Tuesday, giving up early gains on concerns that rising materials costs could squeeze profit margins for the heavy equipment manufacturer following U.S.

  • *Caterpillar Q1 profits, revenue beat estimates. *Company upgrades 2018 outlook on strong global demand. CHICAGO, April 24- Caterpillar Inc's shares tumbled on Tuesday, giving up early gains on concerns that rising materials costs could squeeze profit margins for the heavy equipment manufacturer following U.S.

  • Stocks are closing sharply lower on Wall Street as big technology and industrial companies take heavy losses. Market favorites including Alphabet and Amazon dropped Tuesday, and heavy equipment maker Caterpillar sank 6.2 percent after warning of weaker profits. The Dow Jones industrial average plunged as much as 600 points Tuesday, weighed down by sharp...

  • A Caterpillar 953C track loader moves soil to a dump truck as contractors work during the construction of residential housing in the Norton Commons subdivision in Louisville, Kentucky.

    The machinery manufacturer also raises its 2018 profit outlook by $2 a share over the previous quarter.

  • April 19- Weir Group Plc, which makes pumps and valves for mining and energy industries, said it would buy ESCO Corp, a U.S.-based maker of equipment parts, for an equity value of $1.05 billion as it looks to bolster its mining business. Weir shares rose as much as 6.5 percent to 2,255 pence in morning trade in London. Weir said Portland, Oregon- based ESCO, with an...

  • April 19- Weir Group Plc, which makes pumps and valves for mining and energy industries, said it would buy U.S.-based ESCO Corp, a maker of mining equipment parts, for an equity value of $1.05 billion. The deal is expected to add to earnings per share in the first full year post completion, expected in early third quarter, Weir said. Weir also said it would start a process...

  • Traffic is diverted on Foothill Road as workers place K-rail barricades along burn areas during a winter rain storm in Ventura, California, January 9, 2018.

    Investors should position their portfolios for a big infrastructure bill in the coming years, according to Morgan Stanley.

  • *Bitcoin miner Canaan says eyeing IPO outside mainland China. HONG KONG, April 6- Canaan Creative, one of the world's top cryptocurrency mining equipment makers, said it was considering an initial public offering and expected China's push to promote the domestic chip industry to help drive growth for the company. "We... prefer listing outside mainland China as we...

  • HONG KONG, April 6- China's Canaan Creative, one of the world's largest crypto-currency mining equipment makers, said on Friday it is considering an initial public offering and would prefer to list outside mainland China. Co-chairman Jianping Kong did not provide any details on a possible time frame for the IPO or how much the company expected to raise.

  • CHICAGO, April 4- U.S. agricultural machinery maker Deere& Co said on Wednesday it would monitor Beijing's new tariff proposals to evaluate their impact on the company and its customers. The statement came after shares of U.S. exporters of everything from planes to tractors fell after China retaliated against the Trump administration's tariff plans by...

  • TORONTO/ LONDON, March 21- Canada's First Quantum Minerals on Wednesday was hopeful of resolving a dispute with Zambia over a whopping 76.5 billion Zambian kwacha bill for unpaid duties on imported mining equipment. Zambia has reduced "significant" tax assessments against it in the past, Chief Executive Philip Pascall said on a conference call with analysts.

  • TORONTO/ LONDON, March 21- First Quantum Minerals on Wednesday refuted a bill of $8 billion for unpaid import duties levied against the miner by the Zambian tax authority, Chief Executive Philip Pascall said. The dispute, which Zambia announced on Tuesday, relates to $540 million of mining equipment imported for the Canadian company's Sentinel mine.

  • CHICAGO, March 16- Caterpillar Inc will close two facilities and is contemplating the closure of its engine manufacturing plant in Illinois, which together could potentially result in about 880 job losses, a company spokeswoman told Reuters on Friday. The move will affect its work tools facility in Waco, Texas, and its demonstration center in Panama, said the...

  • CHICAGO/ NANTONG, China, March 5- At a Caterpillar facility in the eastern Chinese city of Nantong, an array of excavators, earth movers and road-making machinery is displayed on slopes and in mud pits. The audience is Caterpillar's local network of dealers, who inspect the machines for the latest technological innovations to help make their sales pitches to...

  • Welders cut beams for the substructure of a new oil and gas drilling rig at the Orion Drilling Co. manufacturing and fabrication facility in Corpus Christi, Texas.

    President Trump says he is a champion of manufacturing, but his steel tariff plan is worrying Wall Street.

  • A John Deere excavator on display at the CONEXPO show in Las Vegas.

    U.S. tractor maker Deere said on Friday net sales and revenues rose 23 percent year-on-year to $6.91 billion in the quarter ending Jan. 28.

  • *Dec core machinery orders -11.9 pct m/m vs forecast -2.3 pct. *Jan-March core machinery orders seen +0.6 pct. TOKYO, Feb 15- Japan's core machinery orders tumbled in December and companies expect orders to rise only marginally in January-March, raising concerns that recent gains in capital expenditure will start to peter out.

  • GUIYANG, China, Jan 29- The largest U.S. maker of equipment for pig farms opened a new factory in China on Saturday, investing in its third plant in the world's top hog market in a bet the country's ambitious push into large-scale pig farming will bring a surge in demand. The move sees privately owned Hog Slat Inc put $2 million into building the plant, near Guiyang,...

  • Wall Street forecasts for the seventh straight quarter on Thursday as equipment sales surged 35 percent on strong global demand for construction, mining and energy machines. The biggest sales increase came from North America, its biggest market, led by better demand for construction and on-shore oil& gas machinery. "Economic indicators are positive at the...

  • The company said it expected an adjusted profit of $8.25- $9.25 per share for 2018, compared with analysts' average estimate of $8.19, according to Thomson Reuters I/B/E/S. Oil prices have shot up to above $70 a barrel from below $30 two years ago, encouraging new investments in the sector, and boosting demand for Caterpillar's oil and gas mining equipment.