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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CAT Strategic Metals Corporation | CSE:CAT | CSE | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.005 | 0.005 | 0.01 | 0 | 01:00:00 |
By Kate Gibson
In looking at second-quarter earnings season, U.S. stock market analysts anticipate year-over-year earnings for the industrial complex to plunge about 43%, with the sector expected to be among the top four worst performers.
"That low bar that has been set makes it easier for companies like Caterpillar Inc. and Deere & Co. to beat expectations," said Art Hogan, chief market strategist, Jefferies & Co.
On Tuesday, shares of Caterpillar (CAT) were lately up 6.7% after the heavy equipment maker reported results topping expectations. .
Deere (DE) gained more than 2%.
And, Caterpillar fronted gains on the Dow Jones Industrial Average (DJI), which erased a 70-point rise to churn 2.50 points higher, to 8,850.65. The S&P 500 (SPX) fell 3.96 points to 947.17, while the Nasdaq Composite (RIXF) declined 9.63 points to 1,899.66.
"It's interesting to note that after Caterpillar significantly beat forecasts, they see full-year sales of $32 to $36 billion despite a high degree of uncertainty on global economy. They were able to get there with a combination of cost cutting, by laying off 50,000 people, to get close to demand on products," said Hogan.
Rising about 24% in the last five sessions, shares of Catepillar are trading near $40, nearly doubling from its March lows but still off 11.5% year-to-date.
1 Year CAT Strategic Metals Chart |
1 Month CAT Strategic Metals Chart |
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