|Bid||133.57 x 900|
|Ask||133.88 x 900|
|Day's range||131.13 - 133.99|
|52-week range||111.75 - 159.37|
|Beta (3Y monthly)||1.52|
|PE ratio (TTM)||12.44|
|Earnings date||23 Oct 2019|
|Forward dividend & yield||4.12 (3.13%)|
|1y target est||142.52|
Investing.com - The Dow is set to pass its intraday record high on Friday and other indexes were also near record highs after upbeat trade news from China, while an upside surprise on core inflation wasn't seen as enough to stop the Federal Reserve cutting rates next week.
Wall Street advanced on Thursday, and the S&P 500 hovered a hair's breadth below its all-time high, buoyed by positive developments on the U.S.-China trade front and a promise of continued stimulus from the European Central Bank. Gains in technology shares helped push all three major U.S. stock indexes into the black.
The Zacks Analyst Blog Highlights: Caterpillar, General Motors, Citigroup, Northrop Grumman and Walgreens Boots
Tech-savvy “bad actors” are getting more creative when it comes to how they prey on internet users -- and its costing billions.
Investing.com - Stocks surged to their highest levels since the end of July Thursday as investors cheered news that the United States and China planned to hold trade negotiations some time in October.
Investing.com – Wall Street rose in early trading on Thursday, boosted by news that the U.S. and China have agreed to hold high-level trade talks next month, a development that raised hopes of a de-escalation of the trade war.
The Zacks Analyst Blog Highlights: General Motors, Caterpillar, J & J Snack, General Mills and Vector
Manufacturing activity in the United States has contracted for the first time since 2016 due to the ongoing trade tussle between the United States and China.
Breaking down the U.S.-China trade war as September's tariffs kick in. Boeing (BA), Caterpillar (CAT), and 3M (MMM) all fell as global economic slowdown fears hit the U.S. And why Allegiant Travel Company (ALGT) is a Zacks Rank 1 (Strong Buy) stock.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. A key U.S. factory gauge unexpectedly contracted for the first time since 2016, sending stocks and bond yields lower and boosting expectations for interest-rate cuts as global manufacturing woes deepen.The Institute for Supply Management’s purchasing managers index fell to 49.1 in August, weaker than all forecasts in a Bloomberg survey of economists, data released Tuesday showed. Figures below 50 indicate the manufacturing economy is generally shrinking. The group’s gauge of new orders dropped to a more than seven-year low, while the production index hit the lowest since late 2015.The data add to concern a broader U.S. recession is coming and may complicate the re-election chances of President Donald Trump, whose pledges to revive manufacturing have been a signature issue. At the same time, Trump’s escalating tariffs on imports from China have been a major reason behind factory weakness that threatens to spread to consumer spending, which accounts for about two-thirds of the world’s largest economy.In the U.S. stock market, the ISM numbers torpedoed a morning rebound and left the S&P 500 poised for its worst loss in seven sessions, down as much as 1.2% to erase almost half of last week’s rally. The 10-year Treasury yield and the dollar fell.Traders of fed funds futures boosted the amount of easing they expect from the U.S. central bank this year, following a July 31 quarter-point cut that was the first since 2008. For the next Fed decision on Sept. 18, investors increased bets on a half-point reduction but continued to lean toward a quarter-point cut.“This piece of data is part of the puzzle that helps to push us into recession,” said Quincy Krosby, chief market strategist at Prudential Financial Inc. “The ramifications of the trade war show up in the euro zone, in Asia and now in the U.S. If the deterioration in the U.S. continues, it’s going to feed into the overall labor market.”What Bloomberg’s Economists Say“To be sure, economic anxiety related to tariffs and increasing trade tensions is extracting a significant toll on business confidence. However, there was limited direct evidence of tariffs creating upward price pressures or materials shortages in the details of the report. As such, the second-order impacts from the tariffs (i.e. confidence effects and currency appreciation) appear to be having the more substantial impact.”-- Carl Riccadonna, chief U.S. economistAlthough manufacturing only makes up about 11% of the U.S. economy, there are concerns that entrenched weakness -- and any layoffs that may result -- could filter through to the rest of the economy and endanger the record-long expansion.Transportation equipment was one of seven industries in the ISM report to report shrinking business activity last month. Automakers, which report their August sales on Wednesday, account for some of the slowdown. General Motors Co. has ceased production this year at a car plant in Ohio and transmission factory in Michigan, two of the four U.S. sites that it has said aren’t being allocated future product. Other automakers are reducing production shifts, including Nissan Motor Co., Fiat Chrysler Automobiles NV and Honda Motor Co.Weakness in the automotive and electronics markets is also impacting 3M Co.’s bottom line. Sales and profit at the diversified manufacturer fell in the second quarter even as earnings topped expectations. At Caterpillar Inc., a slowdown in crude extraction from the Permian Basin, the largest U.S. oil patch, is reducing demand for machinery. What’s more, the equipment maker’s worldwide machine sales in June and July were up 4%, the slowest in two years.Manufacturing is technically already in a recession in the U.S. with a Fed measure of output declining in two consecutive quarters. The malaise is consistent with developments in the sector around the world. By one measure, global factory activity has contracted for four straight months.The ISM’s measure of new orders, which are tracked by some as a leading indicator of a downturn, declined to 47.2. It was the first time since December 2015 that the gauge fell below 50. ISM’s production gauge also sank below that mark, to 49.5 in August from 50.8.The slump in demand and output spilled over into the labor market as the ISM’s gauge of factory employment fell to 47.4, the lowest level since March 2016. That suggests this Friday’s employment report will show weakness in August manufacturing payrolls, which were surprisingly solid the previous two months.“It confirms that the weakness that we’ve been seeing for a number of months now on the global front and on the tariff front is really washing up to the U.S. shores,” said Gregory Daco, chief U.S. economist at Oxford Economics. “What’s important here is that it’s not just the current conditions that have deteriorated quite sharply but also the forward-looking components.”A measure of export orders, a proxy of overseas demand, sank to 43.3, the lowest reading since April 2009 during the depths of the last recession.A separate factory PMI from IHS Markit came in at 50.3 on Tuesday, showing manufacturing was barely expanding. Economists and investors tend to more closely follow the ISM report, which dates to 1931.The “shock effect” of the latest ISM report “adds to recession fears, and the components were also pretty weak,” said Jim Paulsen, chief investment strategist at the Leuthold Group, in an interview. “This does confirm that we’re not bottoming out yet in manufacturing in this country, and that’s significant.”(Adds companies in eighth and ninth paragraphs)\--With assistance from Chris Middleton, Elena Popina, Vildana Hajric and David Welch.To contact the reporter on this story: Reade Pickert in Washington at email@example.comTo contact the editors responsible for this story: Scott Lanman at firstname.lastname@example.org, Vince GolleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com - Wall Street was lower at the open on Tuesday, pressured by concerns over the latest round of tariff hikes in the U.S.-China trade war and reports that the two sides were struggling to decide on the schedule for talks.
(Bloomberg) -- An army of drones deployed to fight a crop-devouring pest in a southern area of China has recorded a mortality rate of as high as 98%, according to the manufacturer.XAG, a Guangzhou-based drone maker, teamed up with Germany’s Bayer Crop Science in a drone swarm operation to kill the fall armyworm in China’s Guangxi region. The autonomous devices, loaded with low-toxicity insecticide, have also successfully managed the pests in a government-led operation in the southwest province of Yunnan, XAG said.“It is the ‘crop-devouring monster’ that attacks over 80 crop varieties,” XAG said in a statement Monday. Most farmers resort to traditional insecticide sprayers, which not only fail to move fast enough against the “ravenous, fast-moving fall armyworm” that can fly up to 100 kilometers in one night, but also expose them to dangerous chemicals, it said.This Is the Caterpillar That’s Coming for Your Lunch: QuickTakeThe fall army worm, a crop-devouring pest, has spread from the Americas to Africa and Asia, gorging on rice, corn, vegetables, cotton and more. Since arriving in China, it has advanced north, affecting 950,000 hectares of crops in 24 provinces as of mid-August, including parts of Hebei, Shaanxi and Shandong, according to an official report published late last month. Outbreaks at 90% of the affected areas are now under control, the report said.Drones can safely operate after sunset to kill the pests, which feed most actively at night, XAG said. According to a local media report, drones have also effectively helped to control the spread of the pests found in some cornfields in the northern province of Henan.To contact Bloomberg News staff for this story: Niu Shuping in Beijing at email@example.comTo contact the editors responsible for this story: Anna Kitanaka at firstname.lastname@example.org, Alexander KwiatkowskiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Caterpillar (CAT) have what it takes? Let's find out.
(Bloomberg) -- Baidu Inc. has once again lost its spot among China’s five most valuable internet companies, this time elbowed out by much younger rival Pinduoduo Inc.The four-year-old e-commerce startup PDD is now worth more than Baidu after its shares surged 8.7% in New York on Thursday. That puts it among China’s Top 5 internet companies in market value, trailing the likes of rival JD.com Inc. and food delivery service Meituan. Baidu has been pushed to sixth place.It’s not the first time that Baidu dropped from the Top 5. NetEase Inc., China’s second-largest gaming house, briefly overtook the local internet search leader in market value earlier this month. Baidu’s shares later recovered after it posted stronger-than-expected second-quarter results. The company has shed about $63 billion of capitalization since its peak in May 2018, or roughly equivalent to one Caterpillar Inc.Once touted as a member of China’s internet triumvirate alongside Alibaba Group Holding Ltd. and Tencent Holdings Ltd., Baidu is grappling with a slowdown in China’s economy and is facing intensifying competition for advertising from app factory ByteDance Inc. That popular social media giant recently launched its own Google-like general search engine, posing a direct challenge to Baidu’s core business.PDD has experienced meteoric growth since its inception. The shopping app, known for cheap deals and gamified purchasing experiences, is luring new users from China’s rising middle class while investing in its own logistics network -- areas currently dominated by rivals Alibaba and JD.com.To contact the reporter on this story: Zheping Huang in Hong Kong at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.