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Caterpillar Earnings Impressed. Here’s Why Its Stock Is Dropping.

·2 min read
Caterpillar Earnings Impressed. Here’s Why Its Stock Is Dropping.
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(CAT) stock is slipping after the machinery manufacturer reported robust sales and earnings Friday morning. Caterpillar (CAT) reported a profit of $2.60, beating estimates for $2.41, on sales of $12.9 billion, ahead of forecasts for $12.5 billion. “Our dedicated global team remains focused on serving our customers, executing our strategy and investing for future profitable growth,” Caterpillar CEO Jim Umpleby said in a statement.