Caterpillar (CAT) Announces Significant Restructuring, Cost Reduction Plans
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 10/8/2026
Go back to Caterpillar (CAT) Announces Significant Restructuring, Cost Reduction Plans
September 25, 2015 8:15 AM EDT
William Blair downgraded Caterpillar (NYSE: CAT) from Outperform to Market Perform.
For an analyst ratings summary and ratings history on Caterpillar click here. For more ratings news on Caterpillar click here.
Shares of Caterpillar closed at $65.80 yesterday.
...
More
September 24, 2015 9:17 AM EDT
Caterpillar (NYSE: CAT) announced a reorganization in its dealer and customer support divisions. These changes are designed to improve and speed the delivery of customer support while simplifying the way Caterpillar interacts with its global dealer network.
"These organizational changes will drive needed simplicity to the business, further enabling us to meet customer and dealer needs by becoming more nimble, lean and responsive," said Rob Charter, Caterpillar group president with responsibility for Customer & Dealer Support. "Our dealers are the best in the industry when it comes to knowing and serving our customers. These changes... More
September 24, 2015 9:11 AM EDT
Joy Global (NYSE: JOY) is seeing pressure after rival Caterpillar (NYSE: CAT) cuts its outlook and announced drastic jobs cuts and other cost cutting measures.
JOY last traded down 4.7%.
...
More
September 24, 2015 7:30 AM EDT
By Sinead Carew
(Reuters) - U.S. stocks closed lower on Thursday in a volatile session on uncertainty about U.S. monetary policy and global economic growth, while market heavyweight Caterpillar cut its sales forecast and healthcare investors fled for the exits.
After the bell, Federal Reserve Chair Janet Yellen said she expects the Fed to raise interest rates later this year. She was said to receive medical attention after her speech, though a spokesman for the University of Massachusetts at Amherst, where she spoke, said she was expected to resume her schedule.
S&P 500... More
September 24, 2015 6:59 AM EDT
(Updated - September 24, 2015 8:11 AM EDT)
Axiom Capital initiated coverage on Caterpillar (NYSE: CAT) with a Sell rating and a price target of $28 Thursday, suggesting 60% downside from yesterday's close. Analyst Gordon Johnson is calling for earnings drastically below what the Street is looking for and views the stock as a short with material downside. The analyst also compared the stock to Lucent of the dotcom era, which relied on vendor financing to circumvent order cancellations and delays.
"... despite non-GAAP EPS remaining resilient, after our scrub of the financials, as well as roughly $9... More
September 22, 2015 3:16 PM EDT
By David Morgan
MORGANTOWN, W.V. (Reuters) - Daniel Carder, an unassuming 45-year-old engineer with gray hair and blue jeans, appears an unlikely type to take down one of the world's most powerful companies.
But he and his small research team at West Virginia University may have done exactly that, with a $50,000 study which produced early evidence that Volkswagen AG was cheating on U.S. vehicle emissions tests, setting off a scandal that threatens the German automaker's leadership, reputation and finances.
"The testing we did kind of opened the can of worms," Carder says of... More
