|Bid||0.00 x 900|
|Ask||0.00 x 1200|
|Day's Range||130.70 - 135.99|
|52 Week Range||111.75 - 144.77|
|Beta (3Y Monthly)||1.54|
|PE Ratio (TTM)||12.59|
|Forward Dividend & Yield||4.12 (3.08%)|
|1y Target Est||N/A|
Caterpillar reported earnings that missed on the top and bottom line, also slashing its full-year outlook. Yahoo Finance’s Akiko Fujita and Ines Ferre discuss on The Ticker.
Asian shares pulled ahead on Thursday as corporate earnings and a ceasefire in northern Syria helped prop up sentiment, though the backdrop of trade and brexit uncertainties was enough to prevent a decisive shift towards riskier assets. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.4% with Japan's Nikkei rising 0.66% to a one-year high. Australian shares climbed 0.5% while South Korea's KOSPI eased 0.1%.
U.S. stocks rose slightly in a choppy session of trading as investors considered major corporate bellwethers’ concerns that a slowing global growth environment was crimping their quarterly earnings results.
Stocks close higher Wednesday after investors digested a slew of earnings reports from some of America’s largest companies, including Dow components Caterpillar Inc. and Boeing Co., shares of which rose despite both companies reporting weaker-than-expected earnings declines.
U.S. stocks closed higher Wednesday, with the major indexes managing to shake off weakness from corporate quarterly results from the country's biggest names. The Dow Jones Industrial Average closed up 45 points, or 0.2%, at 26,834, buoyed by gains in Merck & Co. and Apple Inc. , which finished at a fresh record high, helping the index to overcome declines in components Nike Inc. and Home Depot . The S&P 500 index advanced 8.53 points, or 0.3%, to reach 3,005, while the Nasdaq Composite Index finished 16 points, or 0.2%, higher at 8,120. All closing levels are on a preliminary basis. Gains for the broader markets came despite the indexes jumping in and out of negative territory for most of the session. Reports from Boeing, which came in weaker than expected, were initially feared to weigh mightily on the Dow and broader market, however, after the aerospace giant indicated it still expects its 737 MAX jet to return to service by the end of the year, benchmarks drifted higher. Boeing Co. shares finished up 1%. Another Dow component Caterpillar also missed both earnings and revenue estimates and cut its full-year 2019 earnings outlook but managed to finish the day up 1.2%.
Caterpillar earnings and sales badly missed Q3 views. The Dow Jones stock also slashed full-year guidance. Shares sold off early then rose slightly.
(Bloomberg) -- Oil touched $56 a barrel for the first time in almost a month after a surprise drop in U.S. crude supplies signaled strengthening demand.Futures rose 2.7% in New York on Wednesday, the biggest increase since the Saudi Attacks five weeks ago. The Energy Information Administration reported that American crude inventories fell by 1.7 million barrels last week and gasoline stockpiles shrank more than forecast. Imports of foreign crude slumped to the lowest in more than two decades.“There’s a fair bit to like in this report,” said Matt Sallee, portfolio manager at Tortoise, a Kansas firm that oversees more than $21 billion in assets. “We view inventories moving lower from here.”Oil has been under pressure since late April as the U.S.-China trade war dented the demand outlook and global supplies swelled. Earlier this month, OPEC Secretary-General Mohammad Barkindo said the group would do “whatever it takes” to prevent another oil slump.West Texas Intermediate crude for December delivery rose $1.49 to settle at $55.97 a barrel on the New York Mercantile Exchange. The front-month contract last topped the $55 mark on September 27.Brent for December settlement rose $1.47 to close at $61.17 on the London-based ICE Futures Europe Exchange. The global benchmark crude traded at a $5.20 premium to WTI.On a seasonal basis, American gasoline demand is at its highest since at least 1991, the EIA report indicated. “That’s showing the strength of the U.S. economy,” Sallee said.To contact the reporter on this story: Jacquelyn Melinek in New York at email@example.comTo contact the editors responsible for this story: David Marino at firstname.lastname@example.org, Catherine Traywick, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Jim Cramer says investors are frustrated and confused by this market action. He reviews some of the craziness and explains why it's really reasonable.
Caterpillar Inc. executives may be uncertain about the economic environment, but they seem to be very certain that it's a good time to repurchase the stock. Chief Executive Jim Umpleby and Chief Financial Officer Andrew Bonfield used a form of the word uncertain regarding the economic outlook or business environment a combined six times on the post-earnings conference call with analysts. Bonfield said that uncertainty is why they are not providing sales guidance for 2020, but it's not reason enough to slow share repurchase activity. The company bought back $1.2 billion worth of its stock during the third-quarter, after buying back about $2.15 billion worth of its stock during the first half of the year, according to recent filings. Umpleby said he continues to expect second-half repurchases to be similar to the first half, meaning he expects about $951 million worth of shares to be repurchased during the October-December quarter. Caterpillar's stock rallied 1.2% in afternoon trading, despite missing profit and revenue expectations, after being down as much as 2.2% earlier in the session. The stock has gained 6.5% year to date, while the Dow Jones Industrial Average has climbed 14.7%.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Caterpillar Inc. shares rebounded as investors welcomed the move by the company to cut production, helping it navigate the global economic downturn.“We are taking steps to reduce production to match dealer demand,“ Chief Executive Officer Jim Umpleby said Wednesday, adding that the company is staying nimble and ready to ramp up, should appetite for its machinery improves.Shares of the world’s largest maker of mining and construction equipment rose 1.1% at 1:30 p.m. in New York. The stock earlier fell as much as 2.2% after the company cut its profit outlook this year, citing global economic uncertainty.“In prior cycles what Caterpillar has done is it would continue to build inventory into the market that was declining,” Ann Duignan, a machinery analyst at JPMorgan, said in a Bloomberg Television interview. “This time around they’ve decided to cut production very quickly, very rapidly into the Q4 , and if this is a one-and done then this is the time investors want to buy Caterpillar.”The Deerfield, Illinois-based company reported the first decline in quarterly profit in almost three years and said it expects demand to be flat in the fourth quarter.“When there is global uncertainty, uncertainty in the economic outlook, they probably defer making those decisions,” Chief Financial Officer Andrew Bonfield said in a telephone interview, referring to the company’s end-users. “Our customers are not facing financial difficulties. It’s more that they seem to be waiting to see what happens with the economic outlook for making decisions.”To contact the reporters on this story: Luzi Ann Javier in New York at email@example.com;Joe Deaux in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wall Street was supported by gains in Apple and Boeing shares on Wednesday, though weak earnings from Caterpillar and Texas Instruments raised concerns of an impact from the U.S.-China trade war on global growth. Apple Inc shares rose 1.1% after Morgan Stanley said the iPhone maker's soon-to-be-launched video streaming service, Apple TV+, could boost its services revenue.
Relief that Boeing Co. kept a key timeline for its grounded 737 Max jet boost shares of the airplane maker and was a spot of good news on a mixed day for earnings that included a quarterly miss for Caterpillar Inc.
The three major U.S. stock indexes shook off disappointing earnings from Caterpillar and saw the positive in Boeing’s quarterly results to move higher.
Caterpillar reported its third-quarter earnings today. The company's revenues fell to $12.8 billion—a 6% fall compared to the same quarter in 2018.