Caterpillar, 3M and GM race ahead on strong earnings; Yelp and Dunkin' get dunked

Earnings continue to dominate the scene on Wall Street this morning

Caterpillar (CAT) shares got a big lift in early trading.  The big equipment maker blowing the doors off third quarter earnings and revenue forecasts. "CAT" is also raising its full year forecast.

3M (MMM) shares rose before the bell.  The industrial conglomerate behind such products and Post-it notes posted earnings that topped analysts' estimates. However, revenue missed expectations and the company narrowed its full year financial targets due to fluctuations in the currency markets.

General Motors (GM) shares raced ahead in premarket trading. The carmaker beat profit estimates although revenue came in a bit light.  Global sales in the period were up 2%, the best third-quarter increase since 1980!  Of course, GM is trying to recover from this year's massive recall related to faulty ignition switches.

In the flip side, investors took a bite out of Dunkin’ Brands (DNKN)  in pre-market trading. The owner of Dunkin' Donuts and Baskin-Robbins warned that it will have a tough time meeting sales targets for this year after reporting revenue that came up short of estimates. Still, earnings per share beat by two cents.

Wall Street is also dropping shares of AT&T (T) ahead of the bell. The wireless provider cut its sales outlook for the year after earnings and revenue fell short of estimates as more customers opted for cheaper non-phone services.

Yelp (YELP) shares fell sharply in early trading after the consumer review website forecast fourth quarter sales would miss analysts' estimates. However, Yelp swung to a profit last quarter. Earnings and revenue topped Wall Street views. Net revenue rose 67% from a year earlier.