Caterpillar Stocks Decline 4.45% as $78.1 Billion Backlog Meets Capacity Constraints
FROM THE WIRE · FINANCE.YAHOO.COM
This article first appeared on GuruFocus. Caterpillar (NYSE:CAT) has plenty of orders. The harder part is getting equipment out the door. The heavy equipment and power-system manufacturer traded at $596.20, down about 4.45%, at 9.55 a.m. ET in November 4 premarket trading. Its…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe premarket drop reflects doubts about production capacity at a large industrial group despite strong orders.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Caterpillar shares fell about 4.45% in premarket trading to $596.20.
- 02Backlog reached $78.1 billion, up $6 billion from the previous quarter.
- 03Management maintained its mid-to-high teens annual sales-growth forecast.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets