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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 | 0.005 | 0.005 | 0.005 | 49,000 | 01:00:00 |
Caterpillar Inc. (CAT) said Monday that global machinery sales through retailers fell 48% in the three months to end August, compared with year-ago data.
The retail sales trend was flat with the prior month, and though the North American market ticked up, Asia-Pacific, Latin America and Caterpillar's rest-of-the-world segment all suffered sequential declines.
The U.S. heavy equipment maker had already warned that the third quarter would be its weakest of the year as dealers hold off ordering new equipment to eliminate excess inventory.
"Cat's early cycle businesses are showing signs of stabilization at low levels while late cycle businesses continue to be volatile," said JPMorgan analyst Ann Duignan in a research note.
Caterpillar said in August that it anticipated widespread temporary layoffs and rolling factory shutdowns to lower machinery production.
Engine sales through its global dealer network were down 27% in the three months to Aug. 31.
Caterpillar shares were recently trading down 1% at $52.87 after recouping some of their earlier losses.
-By Doug Cameron, Dow Jones Newswires; 312-750-4135; doug.cameron@dowjones.com
1 Year CAT Strategic Metals Chart |
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