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Search resuls for: "Caterpillar Inc"


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☆ U.S. business equipment borrowings grew 11% in September - ELFA
  + stars: | 2022-10-25 | by ( ) www.reuters.com   time to read: +2 min
Oct 25 (Reuters) - U.S. companies borrowed 11% more in September to finance their equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Tuesday, while raising doubts over the sustainability of this growth amid slowdown fears. The companies signed up for $10.2 billion in new loans, leases and lines of credit last month, compared with $9.2 billion a year earlier, according to ELFA. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 77.3%, up from 75.2% in August. The Washington-based body's leasing and finance index measures the volume of commercial equipment financed in the United States. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in October stood at 45%, compared with 48.7% in September.
☆ Strong equipment, parts demand expected to lift Caterpillar sales
  + stars: | 2022-10-24 | by ( Aishwarya Nair Bianca Flowers | Aishwarya Nair | Bianca Flowers | ) www.reuters.com   time to read: +2 min
Oct 24 (Reuters) - Heavy-machinery maker Caterpillar Inc. (CAT.N) is expected to report a double-digit growth in profit and revenue when it releases quarterly earnings on Thursday, as demand for the company's equipment and parts remains robust. Still, investors will be looking for signs of softening demand as expectations of a global recession increase and after a sales miss in the previous quarter. The world's largest manufacturer of construction and mining equipment has weathered inflationary pressures, supply chain constraints and escalating freight and production costs by increasing prices over the last two years. Caterpillar is expected to post third-quarter earnings of $3.16 per share on $1.67 billion of net income, compared with $1.45 billion a year ago. However, McNally said falling commodity prices could impact the industrial bellwether going forward as economic data suggest weakening demand for oil.
☆ Caterpillar CEO Umpleby to continue in post after company waives retirement policy
  + stars: | 2022-10-13 | by ( ) www.reuters.com   time to read: 1 min
Oct 13 (Reuters) - Caterpillar Inc (CAT.N) said on Thursday its board had waived the policy requiring chairman and chief executive officer, Jim Umpleby, to retire at age 65. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
☆ Wall Street eyes lower open on rate hike, recession worries
  + stars: | 2022-09-26 | by ( Shreyashi Sanyal | ) www.reuters.com   time to read: +3 min
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. ET, Dow e-minis were down 139 points, or 0.47%, S&P 500 e-minis were down 21 points, or 0.57%, and Nasdaq 100 e-minis were down 51 points, or 0.45%. In premarket trading on Monday, cyclical stocks traded lower on worries that such sharp rate hikes could rattle the economy. The CBOE Volatility index (.VIX), also commonly known as Wall Street's fear gauge, hovered near three month highs. Register now for FREE unlimited access to Reuters.com RegisterReporting by Shreyashi Sanyal and Ankika Biswas in Bengaluru; Editing by Anil D'Silva and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
☆ Futures shackled by rate-hike, recession worries
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +2 min
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. REUTERS/Brendan McDermidSummarySummary Companies Futures down: Dow 0.76%, S&P 0.75%, Nasdaq 0.47%Sept 26 (Reuters) - U.S. stock index futures fell on Monday, kicking off another week on softer footing, as investors worried that the Federal Reserve's aggressive push to curb inflation may tip the American economy into recession. ET, Dow e-minis were down 225 points, or 0.76%, S&P 500 e-minis were down 27.75 points, or 0.75%, and Nasdaq 100 e-minis were down 54 points, or 0.47%. "As the SPX tests its June lows, the question becomes is that alone good enough reason to buy?" "Given the acceleration higher in the dollar, global yields, and the breakdowns across global FX, it's hard to not have concerns about longer-term implications."
☆ Scotiabank names Thomson as chief executive officer
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterA person walks infant of a sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos OsorioSept 26 (Reuters) - Bank of Nova Scotia (BNS.TO) said on Monday it appointed Scott Thomson to succeed Chief Executive Officer Brian Porter, at a time when the Canadian banking sector is struggling with market turmoil and rising interest rates. Thomson, who has been a member of the board of Bank of Nova Scotia since 2016, will initially start as president from Dec. 1, overseeing Canadian banking, global banking and markets, global wealth management and international banking at the bank. Register now for FREE unlimited access to Reuters.com RegisterAt Finning, Thomson helped boost return on invested capital in all business units, particularly in Latin America. read moreLast month several brokerages aggressively downgraded the largest Canadian bank as profits at its international banking segment fell below estimates and risks rose from modest net interest margin expectations.
☆ Top Wall Street analysts name their best stock ideas to ride out the market turbulence
  + stars: | 2022-09-25 | by ( Tipranks.Com Staff | ) www.cnbc.com   time to read: +7 min
To choose the right stocks, staying aware of what Wall Street analysts are saying can be of help. related investing news Analysts name the top 'high conviction' stocks for playing the market turbulence The perils and promise of quantum computing are nearing. The North American housing market has slowed considerably, with the ill effects trickling down to construction equipment demand. He holds the 782nd position among almost 8,000 analysts tracked on TipRanks and has a success rate of 52%. According to the law, a $3 per kg production tax credit will be provided to developers producing green hydrogen (hydrogen produced with electrolyzers sourced from clean energy).
☆ U.S. business equipment borrowings grow 4% in August - ELFA
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterThe skyline is seen in Manhattan, New York City, U.S., August 21, 2021. "With the Fed's most recent 75-basis-point jump in short-term interest rates, and the prospect of a hard landing, time will tell whether — and to what extent — these same business owners continue to grow and invest in equipment," ELFA Chief Executive Ralph Petta said in a statement. The Washington-based body's leasing and finance index measures the volume of commercial equipment financed in the United States. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in September stood at 48.7%, compared with 50% in August. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kannaki Deka in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
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