|Bid||0.00 x 500000|
|Ask||2,700.00 x 500000|
|Day's Range||2,527.00 - 2,545.83|
|52 Week Range||2,200.00 - 3,265.00|
|Beta (3Y Monthly)||0.10|
|PE Ratio (TTM)||401.62|
|Forward Dividend & Yield||69.44 (2.77%)|
|1y Target Est||N/A|
Of the Dow Jones Industrial Average's 412-point plunge Tuesday, five higher-priced components are accounting for nearly half of the decline. The biggest drag on the Dow's price is Boeing Co. as the stock fell $8.75, or 2.4%, to shave about 59 points off the Dow's price. Among the other biggest drags, shares of Goldman Sachs Group Inc. shed $5.66, or 2.8%; Caterpillar Inc. declined $4.86, or 3.6%; 3M Co. dropped $4.60, or 2.4%; and Apple Inc. gave up $3.72, or 2.4%. Combined, the stocks' price declines cut about 187 points off the Dow's price. The Dow is a price-weighted average, meaning stocks with the highest prices have the most influence, while indexes like the S&P 500 and the Nasdaq Composite are market-capitalization weighted, meaning the most valuable companies carry the most weight.
The Dow Jones Industrial Average shot up 329 points, or 1.4%, in midday trade Friday, will all 30 components contributing to gains. The blue-chip barometer, on track for the highest close since in six weeks, has now run up 13% since it closed at a 14-month low on Dec. 24. Of the biggest gainers, shares of Home Depot Inc. rallied 2.9%, Caterpillar Inc. climbed 2.8% and DowDuPont Inc. tacked on 2.3%. The most-active Dow component was Apple Inc.'s stock , which rose 0.8%.
Technology shares pulled Wall Street lower on Monday, after an unexpected drop in China's exports in December reignited worries of a slowdown in global economic growth. The China trade data reinforced concerns that U.S. tariffs on Chinese goods were taking a toll on the world's second-largest economy, prompting companies such as Apple Inc to issue profit warning. Chipmakers, which get a sizable portion of their revenue from China, took a hit, with the Philadelphia SE semiconductor index down 1.01 percent.
Technology shares pulled Wall Street lower on Monday, after an unexpected drop in China's exports in December reignited worries of a slowdown in global economic growth. The China trade data reinforced concerns that U.S. tariffs on Chinese goods were taking a toll on the world's second-largest economy, prompting companies such as Apple Inc to issue profit warning. Chipmakers, which get a sizable portion of their revenue from China, took a hit, with the Philadelphia SE semiconductor index slipping 1.60 percent.
Key Updates from the Industrial Sector Last Week (Continued from Prior Part) ## Cummins appoints new CFO On January 10, 2019, Cummins (CMI) announced that Pat Ward, its current CFO, will retire from his position. Cummins also announced that Mark Smith would be replacing Ward as CFO, effective on March 31, 2019. Ward has worked with Cummins for more than 30 years. Tom Linebarger, Cummins’ chair and CEO, said, “Pat has had an extraordinary career at Cummins. He has worked in nearly every part of our company during his 31-year tenure. He has helped many business leaders, including me, figure out where the business needs improvement and what to focus on first. Pat has also coached and developed many of our financial leaders in the company, inspiring them to be the best that they can be.” Ward’s successor, Mark Smith, has also worked with Cummins for more than 20 years. He has served as the vice president of financial operations and has led investor relations, business planning and analysis, and capital management departments at Cummins. ## Stock price update Cummins had a positive week. The stock gained ~2.5% and closed at $139.54 for the week ending January 11, 2019. The gains helped the stock to narrow its 100-day moving average gap and traded 1.5% below the 100-day moving average price of $141.69. So far in 2019, the stock has gained 6.0%. Cummins peers Caterpillar (CAT), Deere (DE), and General Electric (GE) have gained 5.2%, 9.0%, and 19%, respectively. Last week, Cummins outperformed the Invesco S&P 500 Equal Weight Industrials ETF (RGI), which gained 4.0%. The fund has invested 1.5% of its holdings in Cummins as of January 11, 2019. Cummins has a relative strength index of 57, which indicates that the stock isn’t overbought or oversold. Browse this series on Market Realist: * Part 1 - Honeywell to Collaborate with Optoro on Reverse Logistics * Part 2 - Deere Gets Six Agricultural Innovation Awards
Wall Street was set to open lower on Monday, after Citigroup kicked off the earnings season on a dour note, adding to worries over a slowdown in global economic growth that resurfaced after data showed an unexpected drop in China's trade. Citigroup Inc fell 0.7 percent in premarket trading after reporting a surprise drop in quarterly revenue, hurt by volatility in financial markets at the end of the year. Other U.S. banks including JPMorgan Chase & Co, Goldman Sachs Group Inc, Morgan Stanley and Bank of America Corp dropped between 0.8 percent and 1.1 percent.
Key Updates from the Industrial Sector Last Week (Continued from Prior Part) ## Deere gets six AE50 awards On January 10, 2019, Deere (DE) announced that it had received six AE50 awards. The reward is presented by the American Society of Agricultural and Biological Engineers for innovative product-engineering designs in agriculture. It recognizes 50 innovative products chosen by international engineering experts. Deere received awards for the following products: * Command Pro joystick for 6R tractors * Bale mobile app * 2660VT, a variable-intensity tillage tool * Tracks * 700FD Hydraflex Draper * a machine performance app that’s part of the Generation 4 command center These kinds of innovations help Deere to launch new products and further help farmers to save time, costs, and labor. Joel Dawson, director of production and precision agriculture for Deere, said, “This year’s AE50 Awards reaffirms the innovative spirit of our employees and illustrates our company’s commitment to bringing those linked to the land the most useful, high-quality products possible. Around the globe, John Deere engineers work tirelessly to create exciting new products and technology to benefit our customers.” ## Deere’s stock price Deere stock remained positive for the week. The stock gained ~4.4% and closed at $158.28 for the week ending January 11. The gains resulted in Deere trading 7.3% above its 100-day moving average price of $147.45. So far in 2019, Deere has gained ~9.0%. Deere’s peers Caterpillar (CAT), AGCO (AGCO), and CNH Industrial (CNHI) have fallen 5.2%, 13.3%, and 7.4%, respectively. Deere’s 14-day relative strength index score of 60 indicates that the stock isn’t overbought or oversold. Investors could hold Deere indirectly through the iShares MSCI Global Agriculture Producers ETF (VEGI), which had 15.2% of its portfolio invested in Deere as of January 11, 2019. Continue to Next Part Browse this series on Market Realist: * Part 1 - Honeywell to Collaborate with Optoro on Reverse Logistics * Part 3 - Cummins Announces CFO Change
NOTE: On January 11, 2019, the press release was corrected as follows: The first sentence of the methodology paragraph was changed to: The methodologies used in rating Caterpillar Inc. and Peoria (County of), IL were Global Manufacturing Companies published in June 2017, and Captive Finance Subsidiaries of Nonfinancial Corporations published in December 2015. Revised release follows. New York, January 10, 2019 -- Moody's Investors Service ("Moody's") changed the rating outlook for Caterpillar, Inc. (CAT), Caterpillar Financial Services Corporation (CFSC), and their supported subsidiaries to positive from stable, and affirmed the ratings including the A3 long-term and Prime-2 short-term ratings of CAT, CFSC and subsidiaries.
On January 8, 2019, Deere (DE) announced the launch of three L-series wheel loaders, the 524L, the 544L, and the 624L. Deere will display 544L in the upcoming exhibition, the World of Concrete, which will be held from January 22 to January 25. Chris Cline, Deere’s Construction and Forestry segment’s product marketing manager for wheel loaders, said, “Our next generation of wheel loaders improves upon the legacy of the John Deere wheel loader line.
U.S. stocks rose on Tuesday, as industrial stocks and Amazon helped extend Wall Street's rebound for a third day on rising hopes of progress in U.S.-China trade talks. U.S. President Donald Trump earlier tweeted that the talks were going "very well". Trade-sensitive stocks such as Boeing Co and Caterpillar Inc rose more than 2 percent, boosting the Dow Jones Industrial Average.
U.S. stocks were set to gain for a third day on Tuesday, lifted by hopes that the United States and China would strike a deal to end their months-long trade war that has battered financial markets. U.S. President Donald Trump said in a tweet that talks with China are going "very well". "With the U.S. and China in talks to de-escalate their trade conflict, the central bank showing a willingness to slow its tightening cycle and the economy still performing well, the markets may be looking a little more attractive," Craig Erlam, senior market analyst at Oanda in London, wrote in a note.
Powell, Jobs, Trade Talk News Helped Markets Jump on January 4 ## Stock market soared After a massive sell-off on January 3, the major US indexes made a sharp recovery last Friday on several pieces of good news, thereby helping the market to end the first week of 2019 on a positive note finally. The Dow Jones, the S&P 500, and the NASDAQ Composite gained 3.3%, 3.4%, and 4.3%, respectively, on January 4. The indexes ended the first three trading days of the year with returns of 0.5%, 1%, and 1.6%, respectively. All 30 Dow Jones components recorded a sharp upswing on January 4. With an increase of 6.1%, Intel (INTC) stock was the biggest gainer among the Dow 30 components last Friday, followed by Caterpillar’s (CAT) and Boeing’s (BA) intraday gains of 5.5% and 5.2%, respectively. Apple (AAPL) also bounced back with a 4.3% rise last Friday. The stock had plunged nearly 10% the day before after warning about a possible quarterly sales target miss due to trade tensions between the US and China. Apple’s sales target miss forecast and weak US factory activity data had triggered a massive broader market sell-off on January 3, sending all the three major US indexes down by over 2.5%. The Technology Select Sector SPDR Fund (XLK) invests 16.8% of its funds in Apple. ## Factors driving Friday’s rally Last Friday’s stock market rally was a result of a trifecta of good news: a strong US job report, encouraging remarks on the interest rate policy from Fed Chair Jerome Powell, and progress with the US-China trade talks. The first positive news came in the form of the December 2018 job report published by the US Bureau of Labor Statistics, which says the domestic economy created a significantly higher-than-expected job report last month. According to the data, non-farm payrolls surged by 312,000 in December and surpassed economists’ consensus estimates of 176,000 polled by the Dow Jones. Additionally, monthly wages increased 3.2% from the year-ago quarter and 0.4% from the previous quarter. The latest data from the Bureau of Labor discarded concerns of a slowdown in the US economy. Later in the day, Powell at the American Economic Association event hinted that the central bank is ready to shift its stance on monetary policy and is flexible in deciding the timing of interest rate hikes. At the end of December, Powell had suggested raising interest rates three times in 2019. However, last Friday’s remarks pointed to a more liberal monetary policy from the Fed, and analysts and investors are expecting fewer or no hikes this year. Additionally, news of trade talks between the US and China, which are slated to begin today, also made investors think that the two largest economies may resolve their trade dispute this time.
A surprisingly positive employment report set up the second largest gain for the Dow since August 2015.
bombshell announcement that it won't meet its own fiscal first-quarter revenue forecasts. Apple was down more than 9% in early trading on Thursday after the tech giant cut its forecast for fiscal first-quarter revenue - the holiday quarter - thanks in part to slowing sales in China. U.S. companies that also rely on China and Asia as a component of their sales also saw early downward pressure on their shares.
U.S. stocks were set to open sharply lower on Thursday after Apple Inc stunned investors with a rare sales warning that inflamed fears that the Sino-U.S. trade war and a slowing China economy would eat into corporate profits more than expected. Apple's shares sank 8.5 percent before the opening bell after the company slashed its holiday-quarter revenue forecast on slowing iPhone sales in China, the first major warning with the U.S. earnings season around the corner. "Apple reiterates worries that China and trade issues have not been resolved," said Robert Pavlik, chief investment strategist, senior portfolio manager at SlateStone Wealth LLC in New York.
U.S. stock index futures tumbled on Thursday after Apple Inc stunned investors with a rare sales warning that inflamed fears that the Sino-U.S. trade war and a slowing China economy would eat into corporate profits more than expected. Apple's shares sank 8.2 percent before the bell after the company slashed its holiday-quarter revenue forecast due to slowing iPhone sales in China, the first major warning with the U.S. earnings season around the corner.
As of December 28, Deere’s (DE) dividend yield stood at ~1.90%. The dividend yield is improving. Deere’s current dividend yield has fallen by 11 basis points compared to the dividend yield at the end of the third quarter. Caterpillar (CAT), AGCO (AGCO), and CNH Industrial (CNHI) have dividend yields of ~2.74%, 1.1%, and 1.84%, respectively.
In a press release on December 5, Deere (DE) announced the key dates for its fourth dividend of 2018. To be eligible for the dividend, investors should hold Deere stock as of December 31. Deere is expected to pay dividends on February 1. Caterpillar (CAT), Stanley Black & Decker (SWK), and Illinois Tool Works (ITW) paid their latest dividend of $0.86, $0.66, and $1.00 per share.
Investing.com - Stocks soared Wednesday, recovering all the losses and then some from the Christmas Eve plunge, with the White House easing some market worries about the future of Federal Reserve Chairman Jerome Powell and buying picking up all the way into the close.
The latest short interest report on November 30 indicated that Illinois Tool Works’ (ITW) short interest has declined marginally from its highest point in 2018, which it reached as of November 2.