Caterpillar reports strong 3Q sales and revenues, but Wall Street has concerns about the future
Caterpillar is touting strong sales and revenues of $16.8 billion in the third quarter. That's a 12 percent increase from this time last year.
Business publication Barron's reports the $5.45 profit per share beat expectations. But Wall Street's overall reaction to the earning report was negative, with shares down a bit more than 6 and a half percent as of 8:30 a.m. on Tuesday morning.
Barron's says general anxiety about the economy's future trajectory and how that may impact future demand is a driving factor.