This is a FullyInformed Members Trade Alert. Caterpillar Inc posted disappointing quarterly results this morning and cut its 2013 profit forecast resulting in the Caterpillar stock moving lower this morning. Caterpillar said it now expects to report a 2013 profit of $7 per share on sales of $57 billion to $61 billion which is down from an estimated profit of $9.00 a share on sales of up to $68 billion. Caterpillar Stock should remain volatile as many analysts are busy reducing their expectations for 2014.
Caterpillar Stock first quarter profit was $880 million, or $1.31 a share, down from $1.59 billion, or $2.37 a share, in the year-ago same quarter. Estimates had placed the earnings at $1.40 per shares for this quarter. Sales are down 17 percent to $13.2 billion.
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