Mining and construction equipment maker, Caterpillar Inc. (NYSE: CAT) said on Wednesday that fiscal third quarter profit fell 44% as demand for mining equipment remained weak even as prices of construction equipment felt the downward pressure. The Company slashed its full-year earnings per share forecast to $5.50 from $6.50. In the last fiscal year, the company posted earnings of $8.48 a share. For the current fiscal year, the company expects revenue of $55 billion down from previous forecast of $56 billion to $58 billion.
Tag: CAT
Major Movers on April 17; ALKS, CSX, BAC, MAT, AAPL, CAT
Alkermes Plc (NASDAQ: ALKS) rallied after the company said its mid-stage clinical trial of the drug ALKS 5451, meant to cure depressive disorders, showed it was capable of “significantly reducing” symptoms of depression. The Company said that it carried studies on 142 patients. Based on the outcome of clinical trials, the Company now intends to hold a meeting with the U.S Food and Drug Administration (FDA) and commence later stage studies.
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Caterpillar Shares Edge Higher as Q4 Results Beat Estimates (CAT)
Although Caterpillar Inc. (NYSE: CAT) reported a sharp decline in its fourth-quarter net income due to a write-down of a recent acquisition, shares of the construction and mining equipment manufacturer have edged higher in early trading as it posted better-than-expected adjusted profit for the quarter.
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Major Gainers and Losers in Early Trading on October 22; BTU, CAT, VFC, ACOM
Shares of Peabody Energy Corporation (NYSE: BTU), a coal company owning interests in 30 coal mining operations, are soaring in early trading today. At last check, BTU shares were trading 12.63% higher at $29.11 on volume of 259,468. The stock hit an intra-day high of $29.23 in early trading today.
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Caterpillar Board Approves Dividend Increase (CAT)
Caterpillar Inc. (NYSE: CAT), today, announced that its Board of Directors approved a 13% dividend increase. Despite the dividend hike, CAT shares are down in trading today.
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Caterpillar’s Q1 Profit Rises 29% (CAT)
Caterpillar Inc. (NYSE: CAT), a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, after market close on Wednesday released its first-quarter financial results, posting a 29% increase in profit. The Peoria, Illinois-based company also raised its outlook for the year, sending shares marginally higher in pre-market trading today.