Traders Eye Caterpillar (CAT) into Annual Meeting; Look for Comments on Macro Environment, Demand
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Investors will be eying Caterpillar Inc. (NYSE: CAT) today heading into its 2012 shareholder and analyst meeting today, which is slated to start at 4:15pm EDT (1:15pm PDT).
Recent announcements from the likes of BHP Billiton (NYSE: BHP) and earnings from Joy Global (NYSE: JOY) have painted a rather bleak picture of the overall global economic rebound, causing
Recently, IR Director Mike DeWalt offered comments about the industry and outlook for miners. Though DeWalt sees near-term challenges, he said Caterpillar believes that demand for key commodities will turn favorable in fiscal 2013 and beyond.
Amid the tumultuous market place, Caterpillar shares are up about 3 percent for 2012, compared with a drop of 20 percent for Joy Global and a 2.2 percent pop for BHP. The S&P 500 has risen about 16 percent for the year.
Implied volatility into the event is above Caterpillar's annual average by about 7 points.
Caterpillar most recently reported second-quarter results on July 25th, topping EPS expectations, trimming the top-end of its fiscal 2012 sales outlook while boosting EPS guidance.
Caterpillar's event will be held at MINExpo 2012 in Las Vegas, Nevada. Caterpillar Chairman and Chief Executive Officer Doug Oberhelman and members of Caterpillar's Executive Office will provide a review of Caterpillar's business and enterprise strategy. Shares are flat ahead of the bell Monday morning.
Recent announcements from the likes of BHP Billiton (NYSE: BHP) and earnings from Joy Global (NYSE: JOY) have painted a rather bleak picture of the overall global economic rebound, causing
Recently, IR Director Mike DeWalt offered comments about the industry and outlook for miners. Though DeWalt sees near-term challenges, he said Caterpillar believes that demand for key commodities will turn favorable in fiscal 2013 and beyond.
Amid the tumultuous market place, Caterpillar shares are up about 3 percent for 2012, compared with a drop of 20 percent for Joy Global and a 2.2 percent pop for BHP. The S&P 500 has risen about 16 percent for the year.
Implied volatility into the event is above Caterpillar's annual average by about 7 points.
Caterpillar most recently reported second-quarter results on July 25th, topping EPS expectations, trimming the top-end of its fiscal 2012 sales outlook while boosting EPS guidance.
Caterpillar's event will be held at MINExpo 2012 in Las Vegas, Nevada. Caterpillar Chairman and Chief Executive Officer Doug Oberhelman and members of Caterpillar's Executive Office will provide a review of Caterpillar's business and enterprise strategy. Shares are flat ahead of the bell Monday morning.
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