Editor’s Note: Related tickers: Caterpillar Inc. (NYSE:CAT), Microsoft Corporation (NASDAQ:MSFT), Keryx Biopharmaceuticals (NASDAQ:KERX), Halliburton Company (NYSE:HAL), General Motors Company (NYSE:GM), ABB Ltd (NYSE:ABB), Netflix, Inc. (NASDAQ:NFLX), Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG), Facebook Inc (NASDAQ:FB), BP plc (NYSE:BP), Transocean LTD (NYSE:RIG), Baker Hughes Incorporated (NYSE:BHI), Schlumberger Limited. (NYSE:SLB), Weatherford International Ltd (NYSE:WFT)
U.S. Stocks Decline as Home Sales Drop Amid Earnings (BusinessWeek)
U.S. stocks fell, after the biggest weekly drop in five months for the Standard & Poor’s 500 Index, as sales of previously owned U.S. homes unexpectedly declined in March and investors weighed corporate earnings. Caterpillar Inc. (NYSE:CAT) fluctuated between gains and losses as it cut its 2013 forecast. Halliburton Company (NYSE:HAL) jumped 2.6 percent after reporting first-quarter profit that exceeded analysts’ estimates. Eldorado Gold Corp. gained 4 percent as the price of the precious metal rose. Power-One Inc. soared 56 percent after ABB Ltd (NYSE:ABB) agreed to buy the maker of solar-power inverters for about $1 billion.
Altaaqa Global and Caterpillar pen deal (GasWorld)
This deal will be supported by partnerships within the worldwide Cat® dealer network. “We have been successfully serving our customers within the Kingdom of Saudi Arabia since our inception,” said Fahad Y. Zahid, Executive Vice President of Zahid Group. “In 2004, catering to local needs, we launched Altaaqa Alternative Solutions, which later became the world’s largest fleet owner of Cat Rental Power with over 750MW in its inventory. Through this IPP agreement, our new subsidiary, Altaaqa Global, will enable us to strengthen our position as a leading provider of turnkey temporary power solutions, now at a global level.” “Zahid Group has demonstrated a proven track record of excellent customer service for more than 60 years,” said Bill Rohner, Vice President of Electric Power at Caterpillar Inc. (NYSE:CAT). “Having them as a strategic partner will help expand Caterpillar’s evolving role in the IPP market.”
Caterpillar Inc. (NYSE:CAT), Netflix, Inc. (NASDAQ:NFLX) to Deliver Quarterly Results Monday (CrazyJoys)
On Monday the heavy machinery producer Caterpillar Inc. (NYSE:CAT) will deliver its first quarter earnings and will also exhibit the full year forecast. Caterpillar and Netflix, Inc. (NASDAQ:NFLX) headline Monday’s earnings calendar. Other companies include Hasbro, Zions Bancorp, Texas Instruments and Halliburton Company (NYSE:HAL). The iPhone maker Apple Inc. (NASDAQ:AAPL) will likely be active ahead of its earnings report Tuesday afternoon. Its also been speculated that the company may be forced to lower its 2013 outlook. In China Caterpillar is experiencing sluggish revenue growth. Moreover, mining companies are recoiling on expenses for new equipment due to decreasing prices for commodities like iron ore and coal.According to a research report analysts have cut first quarter profit estimates for Caterpillar by 26 percent since the start of the year.
Caterpillar Cuts Estimates Again (247WallSt)
Caterpillar Inc. (NYSE:CAT) reported first-quarter 2013 results before markets opened this morning. The heavy equipment maker posted diluted earnings per share (EPS) of $1.31 on revenues of $13.21 billion. In the same period a year ago, the company reported EPS of $2.37 on revenues of $15.98 billion. First-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.40 EPS and $13.72 billion in revenues. For the 2013 fiscal year, Caterpillar lowered its forecast revenues from $60 billion to $68 billion to a new range of $57 billion to $61 billion. The company’s EPS forecast of $7.00 to $9.00 was reeled in as well, to $7.00 “at the middle of the sales and revenues outlook range.” At the beginning of the year, the consensus analyst forecast for EPS was $8.54 on revenues of $65.18 billion. Caterpillar put those numbers in the rear-view mirror in January and have now crushed the analysts most recent estimates. The current consensus estimate for $7.71 in EPS on revenues of $62.74 billion in revenues will take another hit today.
Caterpillar Continues to Crawl Along (WSJ)
There was once a very hungry Caterpillar Inc. (NYSE:CAT) -0.36% that saw a boom in resource demand, agriculture and construction all at the same time. It gobbled up every opportunity and expanded to more than three times its original size in a decade. Today, though, machinery giant Caterpillar Inc. is having a nasty bout of indigestion. Even as it reported record annual sales and earnings in January—up 10% and 15%, respectively—investors focused on a worrying slowdown at the end of 2012. This appears to have deepened since then. At the beginning of 2012, Caterpillar’s rolling three-month average year-on-year retail-sales growth for machinery was a scorching 27%, driven by emerging markets. By June, that had dropped to 11%, and by December the rate was slightly negative. Its most recent data from March were a rolling decline of 11%, driven by a 24% drop in the Asian-Pacific region.
Apple, Caterpillar: shocked stocks get new test (MarketWatch)
Apple Inc. (NASDAQ:AAPL) and Caterpillar Inc. (NYSE:CAT) results this week will help determine whether the quarterly earnings season is stuck in a well-worn groove: Companies’ top-line results look OK, but sales are coming up short. Of the 100 companies on the S&P 500 that have released results, about 72% have reported earnings results above the mean estimate, slightly above the average of 70% over the past four quarters, says John Butters, senior earnings analyst at FactSet. That hasn’t been the case for revenue, however. Only 45% have reported revenue above mean estimates, below the 52% average of the past four quarters, according to Butters. So far, the blended earnings growth rate for the quarter is up 0.1%, with revenue down 0.1%, according to FactSet.
Microsoft stock jumps as activist investor takes $2-billion stake (TheGlobeAndMail)
Activist investor ValueAct Capital has taken a $2-billion stake in Microsoft Corporation (NASDAQ:MSFT), CNBC reported on Monday, and Microsoft shares leapt to their highest point in seven months. CNBC’s David Faber reported the stake. A representative of ValueAct was not immediately available to comment. Microsoft shares rose 4.4 per cent to $31.06, touching their highest levels since last September. With Monday’s gains, the stock is up 16 per cent this year, putting it on track for its best annual performance since 2009. One of the chief complaints of Microsoft’s investors is that the stock is little changed today from where it was 11 years ago.
Microsoft Software Licenses Growth Cushions Pain of PC Sales Decline (IndiaTimes)
Personal computer sales fell 14 per cent in the first three months of the year, just as Microsoft tries to ramp up sales of the latest iteration of Windows. But the company’s ability to keep hold of big customers rescued its third-quarter results, which came in better than expected on Thursday. “Microsoft has successfully transitioned into an enterprise software company and these results show that, because the strength of server and tools and the actual way they sell licenses to business is making up for the missing PC sales,” said Kim Caughey Forrest, an analyst at Fort Pitt Capital.
Microsoft Corp’s “Overweight” Rating Reaffirmed at Atlantic Securities (MSFT) (ZolMax)
Microsoft Corporation (NASDAQ:MSFT)‘s stock had its “overweight” rating reiterated by equities research analysts at Atlantic Securities in a research note issued to investors on Monday, StockRatingsNetwork reports. They currently have a $35.00 price target on the stock. Several other analysts have also recently commented on the stock. Analysts at Evercore Partners raised their price target on shares of Microsoft Corp from $30.00 to $32.00 in a research note to investors on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at Sanford C. Bernstein raised their price target on shares of Microsoft Corp from $37.00 to $39.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Microsoft Corp in a research note to investors on Friday. They now have a $30.00 price target on the stock.
A Lawsuit Against Microsoft For Copyrights Violation (JewishBusinessNews)
A lawsuit, seeking NIS5 million ($1.4 million), was filed recently at the District Court in Lod, Israel, against Microsoft Corporation (NASDAQ:MSFT) (the American multinational headquartered in Redmond, Washington St., as opposed to its local subsidiary in Israel), which alleges an intellectual property infringement of copyrights and a violation of moral rights (personal, non-transferable intellectual property rights the law in Israel accords the actual creator: that his creation will bear his name and that its integrity will be preserved; it’s inapplicable to software). The plaintiff, Hanna Tal of Israel, is the daughter and sole successor of Henry Friedlander, the creator and designed of a font known as “Hadassah”.
Microsoft to launch new small Windows-powered touch-screen devices (IBNLive)
Microsoft is working with manufacturers to produce a line of small touch-screen devices powered by Windows, apparently intended to compete with 7-inch tablets like the iPad Mini and Amazon Kindle Fire. Peter Klein, Microsoft’s chief financial officer, told investors and analysts on a conference call Thursday that the new devices will be available in coming months at competitive prices. Microsoft Corporation (NASDAQ:MSFT) is struggling to extend its software into smartphones and tablets as consumers are turning away from PCs, the foundation of its empire. Over the winter, it launched two larger tablets under the Surface brand. And in October, the company took a large stake in Barnes & Noble’s digital unit, which sells a line of entertainment-oriented 7-inch tablets under the Nook brand.
Microsoft adds to sign-in security (JournalGazette)
Microsoft is offering enhanced security for its email, storage and other services. People who turn on the new feature will be asked not just for a username and password, but also a second piece of information, such as a temporary code sent as a text message to a phone on file. Google Inc (NASDAQ:GOOG) and Facebook Inc (NASDAQ:FB) already allow two-step verification as an option. The security enhancements work with all Microsoft accounts, such as email addresses ending in Hotmail.com, MSN.com and Outlook.com. Those accounts unlock a range of Microsoft Corporation (NASDAQ:MSFT) products, including email, Skype, SkyDrive storage, Xbox gaming, Office software subscriptions and Windows 8 machines.
Stocks in Focus: Keryx Biopharmaceuticals, Standard Pacific, Health Management, BioScrip (SBWire)
Jackpotpennystocks.com, an investor research portal specializing in several sectors including biotech and healthcare and tech stocks on the U.S. market, issues news updates on the following stock:- Keryx Biopharmaceuticals (NASDAQ:KERX) shares gained 5.52% to $8.03. The company, on Marc h 11, announced its results for the fourth quarter and year ended December 31, 2012. The net loss for the 4th quarter ended December 31, 2012 was $6.6 million, or $0.09 per share versus $8.4 million for quarter 2011, representing a decrease of $1.8 million and Net loss for the year ended December 31, 2012, was $22.7 million versus $28.1 million for the year ended December 31, 2011, representing a decrease in net loss of $5.4 million. At December 31, 2012, the Company had cash, cash equivalents, interest receivable, and investment securities of $14.7 million, as compared to $39.5 million at December 31, 2011.
Is Keryx Biopharmaceuticals (KERX) Going to Burn These Hedge Funds? (InsiderMonkey)
Keryx Biopharmaceuticals (NASDAQ:KERX) was in 6 hedge funds’ portfolio at the end of December. KERX investors should pay attention to a decrease in support from the world’s most elite money managers of late. There were 7 hedge funds in our database with Keryx Biopharmaceuticals (NASDAQ:KERX) positions at the end of the previous quarter. In the 21st century investor’s toolkit, there are a multitude of metrics investors can use to analyze their holdings. A duo of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can trounce the S&P 500 by a solid amount.
Halliburton in Gulf spill settlement talks, takes charge (Reuters)
Halliburton Company (NYSE:HAL) is in talks to settle private claims against it in a trial to determine how to allocate blame for the 2010 Gulf of Mexico spill, the oilfield services company said on Monday, as it took a $1 billion pretax charge for a possible deal. Disclosure of the “court-facilitated” talks helped push Halliburton shares up more than 3 percent, even though the charge pushed the company to a first-quarter loss. The news came just days after the conclusion of court proceedings for the first phase of the trial over claims brought by the U.S. government and Gulf Coast states, as well as private parties affected by the worst U.S. offshore oil spill. While Halliburton is not the subject of direct government actions, BP plc (NYSE:BP) has tried to hold the company and rig owner Transocean LTD (NYSE:RIG) partly responsible for damages.
Halliburton Swings to Loss on Rising Litigation Reserves (WSJ)
Halliburton Company (NYSE:HAL) +4.17% swung to a first-quarter loss on a $637 million increase in reserves tied to litigation involving the Deepwater Horizon disaster. Chairman and Chief Executive Dave Lesar said Halliburton has “recently participated in court-facilitated settlement discussions with the goal of resolving a substantial portion of private claims” related to the Deepwater Horizon incident. “We are pursuing these settlement discussions because we believe that an early and reasonably-valued resolution is in the best interests of our shareholders.” Halliburton, the top seller of services for hydraulic fracturing used to extract oil and gas from shale energy fields in North America, has seen its margins pressured lately by higher fracking costs in oil-rich areas and weakening demand for services in natural-gas fields.
Halliburton Tops Estimates Yet Again (Zacks)
Major oilfield services provider Halliburton Company (NYSE:HAL) reported better-than-anticipated first quarter 2013 results – the fourth outperformance in the last 5 quarters – helped by robust showing from its international business. Earnings per share from continuing operations – excluding a charge associated with the Gulf of Mexico disaster in 2010 – came in at 67 cents, beating the Zacks Consensus Estimate of 58 cents. Following Baker Hughes Incorporated (NYSE:BHI) and Schlumberger Limited. (NYSE:SLB), Halliburton stepped up as the third member of the ‘big 4 oil service companies’ to post above consensus result. The remaining member of the contingent, Weatherford International Ltd (NYSE:WFT) , is scheduled to report next month.
Weak Fracking Market Could Deflate Halliburton’s Earnings (Forbes)
Halliburton Company (NYSE:HAL), the world’s second largest oil field services firm, will release its Q1 2013 earnings on April 22. Over the last year, the company’s performance has been impacted by weak North American land-based drilling and higher raw material costs while being offset by a better international performance and a stronger performance in the U.S. offshore market. In Q4, Halliburton’s revenues grew by 3% to around $7.3 billion year-over-year while income from continuing operations fell by almost 35% to around $592 million. In Q1, we expect results to be weighed down by North America yet again since natural gas drilling activity has dropped to its 14-year lows, causing weaker pricing for gas directed services. The firm is also expected to record a $30 million charge related to foreign exchange losses in Venezuela.
Futures Rise Before Housing Data; Halliburton (HAL) Gains (iStockAnalyst)
U.S. stock-index futures pointed to a higher opening on the Wall Street as investors digested corporate earnings reports and awaited data on existing home sales. Mini Dow Industrial Average futures rose 52 points to 14,522. The Nasdaq futures gained 16 points to 2,784.25. Standard and Poor’s 500 futures added 6.60 points to 1,554.20. At 10 am ET, the National Association of Realtors may report that existing home sales for March inched higher to 5.01 million from 4.98 million in February.
General Motors donates $100,000 to Red Cross (DallasNews)
General Motors Company (NYSE:GM), which maintains a high profile in Texas with its Arlington Assembly Plant and dozens of dealership, donated $100,000 to the American Red Cross. The grant comes days after a devastating explosion at a fertilizer plant in West south of Dallas left at least 14 people dead and more than 200 injured. “As home to our Arlington Assembly Plant, we count many Texans as family, friends and neighbors and want to help them in this time of great need,” said Selim Bingol, chairman of the GM Foundation and vice president of GM global communications and public policy.
GM board votes to close first Opel factory in decades (AutoBlog)
Europe’s ailing economy has caused the supervisory board at General Motors Company (NYSE:GM), which includes four senior executives, to vote to end production of the Opel Zafira MPV at the 50-year-old Bochum plant in Germany. The closing of the car factory marks the first closure of a German automobile assembly plant in decades, and it will cost Buchum (a city with nearly 375,000 residents in the western part of the country) about 3,000 jobs. Some doubted that GM would shift production and tooling of the Zafira out of Bochum before 2017 (the end of the model’s life cycle), as it is a move that will prove costly to the automaker, but those hopes were dashed earlier this week.
Can GM’s Management Do the Job? (Fool)
General Motors Company (NYSE:GM) has seen sweeping changes in its management team since emerging from the company’s controversial bankruptcy in 2009. New CEO Dan Akerson and his team have overhauled GM inside and out. But have they done enough? In this video, Fool contributor John Rosevear looks at what Akerson’s team has done so far — and whether they have what it takes to go the distance. …Few companies lead to such strong feelings as General Motors. But ignoring emotions to make good investing decisions is hard. The Fool’s premium GM research service can help, by telling you the truth about GM’s growth potential in the coming years.
General Motors by any other name? Car firms face brand puzzle in China (NDTV)
The Buick brand of US auto General Motors Company (NYSE:GM) carries instant recognition but its “Baojun” cars sold in China, displayed at the Shanghai auto show on Sunday, might leave many puzzled. “You probably all know Buick, Cadillac, Chevrolet and Opel, but many of you may not know… Baojun passenger cars,” GM China president Bob Socia said. Baojun is an “indigenous” brand, vehicles made by China-foreign joint ventures as required by the government, which wants to prevent domination by foreign companies and give lagging domestic firms more technological expertise.
General Motors Flint Assembly, Metal Center plants awarded $183k by Consumers Energy for energy-saving efforts (MLive)
Two Flint General Motors Company (NYSE:GM) plants were awarded with rebates totaling $183,000 from Consumers Energy for their commitment to energy savings over the past year. General Motors Flint Assembly and Metal Center completed several new projects to reduce energy consumption in the plants ranging from the installation of more efficient lighting to eliminating steam heat. The changes are expected to save the plants more than $926,000 annually. “The GM Flint team recognizes the importance of being environmental stewards and we are willing to share our learnings and experiences with individuals and groups trying to reduce their carbon footprint,” said Amy Farmer, complex director for the site that includes the assembly and stamping plants.
Ray Chevrolet Named One Of General Motors’ Top Performers (ChicagoTribune)
Ray Chevrolet of Fox Lake was announced today by General Motors Company (NYSE:GM) as a top performer for the Chevrolet brand and was honored by receiving the Mark of Excellence award at the dealership. This is the 3rd year in a row that Ray Chevrolet was recognized with this honor by GM. This unique distinction is reserved for dealerships who exhibit professionalism and superior customer service, while continuing to grow their business. “We had a very strong year in 2012 and are proud that our hard work is being recognized,” Owner Ray Scarpelli said. “We believe that our number one priority is providing a customer experience that is second to none and look forward to building on this in 2013.”
