U.S. Markets closed

Caterpillar May period trends likely a short-term negative, says Wells Fargo

Wells Fargo believes the demand trend deceleration evident in Caterpillar's (CAT) May period sales report will likely be a short-term negative for its stock with modestly negative read-through for Cummins (CMI) and other suppliers. The firm keeps a Market Perform rating on Caterpillar.