Published January 27, 2014
Caterpillar Steamrollers Higher and Other #Stocks2Watch
#Stocks2Watch: Caterpillar Steamrollers Higher
Caterpillar shares rallied in the pre-market after the world's biggest heavy machinery maker revealed a fourth-quarter beat.
Caterpillar revealed fourth-quarter results that handily beat Wall Street's expectations. The world's biggest maker of heavy machinery also unveiled a fresh $10 billion share buyback program. The shares are rolling higher by more than 5% in early action.
Apple is due to report its quarterly results after the closing bell. The world's biggest technology company is expected to log fiscal first-quarter net income of $12.7 billion on revenues of $57.5 billion. Analysts will also be paying close attention the iPhone-maker's profit margin, expected to come in at 37.31%.
Cisco Systems share are sliding 2% in pre-market action after JPMorgan Chase cut the networking-equipment maker to "underweight" from "neutral."
Vodafone shares traded in the U.S. are coming under pressure in pre-market action after AT&T said it isn't mulling a bid for the European telecommunications heavyweight.
Merck shares are up more than 1% in pre-market trading after analysts at Morgan Stanley upgraded the pharmaceutical giant to "overweight" from "underweight."