Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Scout Daily Update: Caterpillar Inc. (CAT) Cut Guidance Citing Macro Weakness

STOCKS NEWS

Caterpillar Inc. (NYSE:CAT): reported Q3 EPS of $0.85 which beat estimates by $0.08. Revenues of $9.16 billion were down 16.4% which missed estimates by $680 million. The firm cut guidance again calling for $3.25 in 2016 EPS which is lower than the $3.55 previously expected.

CEO Doug Oberhelman said “Economic weakness throughout much of the world persists and, as a result, most of our end markets remain challenged. However, there were a few bright spots this quarter… I’m pleased with how Caterpillar Inc. (NYSE:CAT) has responded and our team’s incredible focus on reducing costs and pulling through profit despite sluggish end markets.”

cat, brand, symbol, sign, name, logo, ilustrative, design, economy, deutschland, name, markenname, emblem, berlin, icon, embleme, brand, cat, company, marke

360b/Shutterstock.com

Follow Caterpillar Inc (NYSE:CAT)
Trade (NYSE:CAT) Now!

Under Armour Inc (NYSE:UA): reported Q3 of $0.29 which beat estimates by 4 cents. Revenue of $1.47 billion was up 22.5% beating expectations by $10 million. Apparel revenue increased 18% to $1.021 billion. Footwear revenue increased 42% to $278 million. This is ahead of the Curry 3 launch which should further boost sales. Accessories sales were up 18% to $121 million. The stock is selling off because the firm said the growth rate stated at the Investor Day in 2015 won’t be hit in the future.

Follow Under Armour Inc. (NYSE:UAC)
Trade (NYSE:UAC) Now!

Baker Hughes Incorporated (NYSE:BHI): reported Q3 EPS of -$0.15 beat estimates by $0.30. Revenues of $2.4 billion were down 36.7% and missed estimates by $10 million. Total costs and expenses fell 31% year over year. CEO Martin Craighead said “We expect activity in North America to modestly increase [in Q4], as our customer community slowly begins to ramp up activity in what remains a tough pricing environment. BHI’s customers need oil prices in the mid- to upper-$50s/barrel for a sustainable recovery.”

Follow Baker Hughes Inc (NYSE:BHI)
Trade (NYSE:BHI) Now!

Procter & Gamble Co (NYSE:PG): reported Q1 EPS of $1.03 which beat estimates by $0.05. Revenues of $16.25 billion were down 0.1% from last year which beat estimates by $40 million. The following are the segment volumes: Beauty -2%, Grooming flat, Health Care 5%, Fabric and Home Care 2%, Baby/Feminine/Family Care 3%.

Follow Procter & Gamble Co (NYSE:PG)
Trade (NYSE:PG) Now!

ECONOMIC NEWS

The consumer confidence report was disastrous as it fell the most in 11 months. It shouldn’t come as a shocker because the Bloomberg and University of Michigan polls were both weakening. The previous report was revised lower from 104.1 to 103.5. As you can see below, the expectation for this month was 101.0, but it came in at 98.6. Present situation confidence fell to 120.6 from 127.9.

 

Note: This article was originally published by Scout Finance. Scout Finance’s iPhone and iPad application provides the easiest way to monitor stock prices, read documents, create charts, access financial data, receive breaking alerts, and more for the companies you care about most. Download and try for free today: http://link.scoutfin.com/insidermonkey

Loading Comments...