|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's Range||145.15 - 148.40|
|52 Week Range||111.75 - 148.47|
|Beta (5Y Monthly)||1.51|
|PE Ratio (TTM)||13.84|
|Earnings Date||Jan 31, 2020|
|Forward Dividend & Yield||4.12 (2.81%)|
|1y Target Est||140.86|
Yahoo Finance’s Seana Smith speaks with U.S.-China Business Council’s Anna Ashton about the latest developments in U.S.-China trade discussions on The Ticker.
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Caterpillar's (CAT) global machine sales growth, which has been trending in single digits so far this year, shows no improvement in November.
(Bloomberg Opinion) -- Markets are cheering trade progress between the U.S. and China. It’s important to note that a deal isn’t a cure-all — especially for manufacturers.President Donald Trump reportedly signed off late Thursday on an initial trade deal with China that will delay proposed tariffs on some $160 billion of largely consumer goods set to take effect on Dec. 15. The deal presented to Trump also included promises by China to purchase additional U.S. agricultural goods, people familiar with the matter told Bloomberg News. A rollback of existing tariffs on $360 billion of Chinese goods was said to have been “discussed,” but it’s unclear whether Trump agreed to a reduction and and unknown as to how significant it might be.China has balked at previous agreements that it felt were too lopsided and the removal of tariffs was a top priority. Without that, this deal would appear to be less of a “phase-one” agreement and more of a “phase 0.5” deal. But assuming some semblance of an accord finally limps across the finish line, where do industrial stocks go from here?Manufacturers bore the brunt of the initial tariff crossfire, while the uncertainty wrought by the upheaval in relations between the world’s two biggest economies has slowed customer spending to a crawl. Large manufacturers have been relatively constrained so far in their efforts to cut costs, a sign that they believe demand is being artificially restrained by the trade tensions and could bounce back meaningfully in short order. At the same time, the S&P 500 Industrial Index hit reached an all-time high on Nov. 26 and the actual slowdown in most manufacturers’ sales has been relatively shallow. Industrial distributor Fastenal Co., which sits on the front lines of any economic swings, last week said November daily sales rose 5.7% from a year earlier. That’s a deceleration from the pace of growth at the start of the year, but still relatively healthy, meaning there may not be much room to bounce higher.It’s worth remembering that Caterpillar Inc.’s infamous warning of the “high water-mark” for profits actually came in April 2018, and its guidance at the time excluded potential impacts from increased trade restrictions. The immediately subsequent share plunge was as much a reflection of fears around cyclical peaks as it was the trade war. Since then, tariffs have obviously compounded concerns about an industrial slowdown, but there’s an argument to be made that they also added noise and distraction to a slowdown that was already in the process of happening naturally. Point being, there has been nothing normal about this industrial business cycle and the recovery from here remains a question mark.Trade deal or not, tariff rollback or not, plenty of uncertainty still lingers. Left out of the initial agreement are any commitments around the U.S.’s primary reasons for starting this trade war in the first place, including reforms to China’s industrial subsidies, improved foreign access to certain markets and a loosening of technology-transfer requirements. If I was an industrial CEO — or head of any company, frankly, with substantial business operations in China — plan A would not be to assume the waters remain calm. This trade war will continue to unleash a rethinking of supply chains as companies try to gird against future skirmishes, and that may continue to hinder purchasing decisions. And while settlement of Brexit would be a positive development, the impeachment inquiry in the U.S. is still progressing and the 2020 presidential election looms large.After aggressively buying rumor after rumor on the trade front, this may be a situation where industrial investors should sell the actual news.To contact the author of this story: Brooke Sutherland at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Agribusiness is increasingly turning to natural and sustainable alternatives to chemicals as consumers rebuff genetically modified foods and concerns grow over Big Ag’s role in climate change.At the heart of the trend are innovations that harness beneficial microorganisms in the soil, including seed-coatings of naturally occurring bacteria and fungi that can do the same work as traditional chemicals, from warding off pests to helping plants flourish, according to a global patent study by research firm GreyB Services.“Both entrepreneurs and investors are saying, ‘Hey, the writing is on the wall, we’re entering a post-chemical world,’” said Rob LeClerc, chief executive officer of AgFunder, an online venture-capital platform. “The seed companies who have billions in market cap are like ‘We need to do something,’ and everyone recognizes the opportunity.”Much of the handwringing over farm chemicals stems from the recent fate of glyphosate, the most ubiquitous weedkiller ever. Regulators around the world are tightening up rules around using the chemical, including Europe and Mexico. Meanwhile, thousands of lawsuits that could result in billions of dollars in penalties are pending against Bayer AG over whether its glyphosate-containing product, Roundup, caused cancer. Bayer insists it’s safe, and some government agencies such as the U.S. Environmental Protection Agency say it isn’t likely to cause cancer in humans.The global fertilizer and pesticide market is around $240 billion, and grows 2% to 3% a year, according to Ben Belldegrun, a managing partner at Pontifax AgTech, a company that invests in food and agriculture technology. While so-called biologicals including biofertilizers, biopesticides and biostimulants are just 2% of that market, those have been growing closer to 15% a year for the past five years, Belldegrun said.Pressure for less chemical-intensive farming methods is coming from retailers like Walmart Inc., non-governmental organizations and consumers, who are throwing more dollars toward organic and other niche foods with environmental or animal welfare claims.As population increases worldwide, the demand for agricultural products is projected to grow 15% over the next decade with no change in the amount of land available for farming, according to a joint report by the Organization for Economic Cooperation and Development and the United Nations’ Food and Agriculture Organization.“There’s a growing world population and how are we going to feed all of these people?” asked Craig Forney, assistant director for licensing and business development at Iowa State University in Ames, Iowa. “At the same time, we want to protect the environment. We need to use land better and use the resources better.”The answer, Forney said, is “intensified agricultural production to increase productivity of land and do it with minimal chemical support.”Patents give owners the exclusive right to an invention, and can indicate both where research funding is being spent and where companies or universities expect to generate revenue in the future.Companies like BASF SE, Bayer and Syngenta AG have patents on products using naturally-occurring microbes to help crops flourish even when there is low water availability, according to GreyB’s analysis. The microbes can act as catalysts to encourage growth. Biological-based fungicides and insecticides can also help reduce crop damage from insects, slugs and fungi.“Seed-applied biological products can extend the window of disease and pest protection, while some also provide alternate modes of action that can reduce the build-up of resistance, aid with nutrient management and reduce plant stress,” said Chris Judd, BASF’s global strategic marketing manager for Seed Treatment, Inoculants and Biologicals.Evonik Industries AG, Altair Nanotechnologies Inc., Covestro AG and startup Indigo AG have been active in obtaining patents and publishing research in the area of using microbes, as have universities like China’s Zhejiang University and Nanjing Agricultural University, according to GreyB.Likewise, thousands of patents are being issued to companies like BASF, Bayer and Dow Inc. for more natural ways of managing pests including pheromones that deter breeding and reflective mulches, instead of chemical-based insecticides.Germany’s Bayer, which bought agriculture chemical giant Monsanto Co. in 2018, sees “high growth potential” for biologicals, citing a challenging regulatory environment for chemicals and a growing emphasis on sustainability in agriculture. Bayer has a research and development team solely focused on them. The company also is hunting for partnerships to boost its portfolio. Benoit Hartmann, head of biologics at Bayer, said the increased investments show how the science around microbes has matured in recent years.In 2013, BASF acquired seed-treatment supplier Becker Underwood, which helped the company become a leader in biological agents to fight bacteria and fungi. Judd said the company sees demand for biologicals increasing but maintains that they need “to be compatible with an increasing array of chemistries and to have the ability to survive on the seed for adequate periods.”The increased patenting reflects a trend of researchers looking for ways to help promote organic and non-GMO farming, said Nicole Kling, a patent agent with Nixon Peabody who specializes in the biotechnology field.With biologicals, “You’re not introducing chemicals with the scare quotes around it,” Kling said. “You’re not doing anything that would harm the agricultural workers.”Researchers and companies are looking for new solutions for farming with less chemicals because organic farming, the most popular alternative to modern conventional farming, often results in lower yields. Still, demand for food continues increasing. Iowa State and other universities around the world, using government funding or in partnership with companies, are rushing to deal with those competing demands.“The hope is someday in the future they will merge and you will have organic and non-GMO products that are just as productive as Big Ag,” Forney said.That’s where things like precision agriculture to tailor the application of nutrients, artificial intelligence to monitor soil conditions and the development of new plant hybrids come in.Other emerging techniques that could boost yields while helping farmers use less chemicals is artificial intelligence, which is being used to analyze which seeds and crops can yield the most based on changing soil conditions and weather patterns on a farm. The promise of quantum computers would let companies use massive computing power to develop and analyze new seeds and fertilizers.Scientists also are developing new plant varieties, with applications for new varieties up 9% in 2018, according to the World Intellectual Property Organization. China led the growth, with more than a quarter of the applications for new varieties.Much of the research in crop biotech is centered in the U.S., China, Germany, Japan and South Korea, though it’s being adapted to meet local conditions in Africa, Latin America and Asia, according to WIPO, an agency of the U.N.Demand for more food will be greatest in Africa, India and the Middle East. In the developing world, there is little food scarcity because “we did good things with all that ‘better living through chemistry,’” Kling said, referring to a play on an old DuPont motto. It has come at a cost, though.“We’re starting to see some of the effects of that -- all of this wonderful industrialization has contributed to climate change,” Kling said. “We’re starting to see people swing back in the other direction.”(Adds executive comment in fifteenth paragraph)To contact the reporters on this story: Lydia Mulvany in Chicago at email@example.com;Susan Decker in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Jon Morgan at email@example.com, ;James Attwood at firstname.lastname@example.org, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
DOW UPDATE Powered by positive growth for shares of Caterpillar and Cisco, the Dow Jones Industrial Average is up Thursday morning. The Dow (DJIA) was most recently trading 153 points (0.6%) higher, as shares of Caterpillar (CAT) and Cisco (CSCO) are contributing to the blue-chip gauge's intraday rally.
The board of directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of one dollar and three cents ($1.03) per share of common stock, payable February 20, 2020, to shareholders of record at the close of business on January 21, 2020.
Exposure to equity markets increased in TD Ameritrade Holding Corp. (NASDAQ: AMTD ) client accounts during the November period. The IMX increased to the highest level in a year, increasing 0.33, or 6.8%, ...
Uptake, the fast-growing Chicago predictive analytics startup led by Groupon co-founder Brad Keywell, laid off 23 employees on Friday.
The stock market sure has an itchy trigger finger when it comes to headlines about the U.S.-China trade war. Although analysts and investors have done their best to price in the uncertainty, any development - positive or negative - can set off a session or more of volatility.Witness Tuesday, Dec. 3, when President Trump said the trade dispute between Washington and Beijing could continue into 2020 - and he threatened new tariffs on other nations. The Dow Jones Industrial Average fell by as much as 458 points on the news.With so many multinationals directly or indirectly exposed to China - either by way of demand, supply or both - the uncertainty of trade negotiations remains a major risk heading into the new year.Naturally, some companies are in a more perilous position than others. Here we take a look at seven of the largest, best-known companies trading in the U.S. that have more than their fair share of worries about the ongoing trade war. SEE ALSO: Every Warren Buffett Stock Ranked: The Berkshire Hathaway Portfolio
Investing.com - U.S. futures edged higher on Wednesday after Bloomberg reported that the U.S. and China are edging closer to a trade deal, citing unnamed sources.
Jim Cramer spoke on CNBC's "Mad Money Lightning Round" about Biogen Inc (NASDAQ: BIIB ). He is concerned about the stock because a Baird analyst expressed his skepticism about Biogen's Alzheimer's ...
DOW UPDATE Behind negative returns for shares of Dow Inc. and Goldman Sachs, the Dow Jones Industrial Average is seeing a selloff Tuesday morning. The Dow (DJIA) was most recently trading 420 points lower (-1.
Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Our research shows that most of the stocks that smart money likes historically generate strong […]
DOW UPDATE Behind losses for shares of Dow Inc. and Apple Inc., the Dow Jones Industrial Average is in selloff mode Tuesday morning. The Dow (DJIA) was most recently trading 350 points, or 1.3%, lower, as shares of Dow Inc.