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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Caterpillar Inc | NYSE:CAT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.50 | -0.75% | 332.07 | 336.75 | 330.84 | 333.38 | 1,036,520 | 16:36:27 |
By James R. Hagerty
Caterpillar Inc., still struggling with a plunge in demand for mining equipment, reported that world-wide sales of machinery by its dealers in the three months ended Feb. 28 fell 8% from a year earlier.
That equaled the decline recorded for the three months ended Jan. 31.
Sales of "resource industries" machinery, mainly used for mining, were down 37% in the latest three months. Mining companies have slashed their equipment budgets over the past two years in response to weaker commodity prices. Sales of construction equipment were up 9%, however.
Caterpillar said sales of energy-and-transportation equipment--which includes a wide variety of engines used in energy production and power generation, along with marine and train engines--rose 2% from a year earlier.
Write to James R. Hagerty at bob.hagerty@wsj.com
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