Caterpillar NYSE:CAT shares pulled back nearly 7% Wednesday after Michael Burry (Trades, Portfolio) said he had opened his first short position in the industrial giant. The stock had just closed at an all-time high of $1,064.90, with Burry announcing a short position at $1,060.98. The move came aft…
(12:18 GMT) Caterpillar Price Target Raised to $1218.00/Share From $1043.00 by Truist Securities
Michael Burry has taken a bearish position against Caterpillar, arguing that the construction equipment maker has become one of the most overvalued beneficiaries of the artificial intelligence investment boom.Burry disclosed on Tuesday that he shorted Caterpillar shares at $1,060.98 as part of a br…
Caterpillar Inc. CAT stock hit a 52-week high of $1,073.46 yesterday before ending the session at $1,064.90. The stock’s gain has been fueled by its addition to the Russell Top 50 Index, or the Russell Top 50 Mega Cap Index, which measures the performance of the largest 50 U.S. mega cap companies i…
By Al RootThe Big Short investor Michael Burry, who famously profited from the 2008 subprime mortgage meltdown, has a new bearish bet: Caterpillar stock.Shares of the relatively uncontroversial maker of heavy machinery for mining and construction aren't a typical target for short-sellers, who borro…
By Jinjoo LeeA few years ago, the idea of using hundreds of small engines to power gigawatts of data-center capacity would have seemed ridiculous. Not so today.More hyperscalers are seeking to hook their data centers to off-grid power, bypassing lengthy wait times to connect to the grid. Many of th…
The Zacks Manufacturing - Construction and Mining industry’s near-term outlook has been clouded by rising operating costs and supply-chain disruptions. A tough labor market also creates concerns for the industry.Despite the current setback, the recent recovery in the manufacturing sector, increased…
Last Friday, the three major Wall Street indexes closed a mixed week. While the Dow Jones Industrial Average managed a 0.6% progress, the S&P 500 and the Nasdaq fell 2.1% and 4.7% respectively.The sharp selloff in technology stocks followed stronger-than-expected inflation data, which reinforced ex…
