Caterpillar Falls Following News Of 11% Sales Decline

Shares of Caterpillar Inc. CAT fell Thursday following the release of its rolling 3-month sales report.

Worldwide, retail machine sales declined 11 percent with the largest loss experienced in the Latin America region which came in with a decline of 32 percent.

All regions experienced a decline, however, North America had the narrowest drop at 2 percent.

The stock sold off sharply at the open and fell below $80 before rising modestly near the close.

Caterpillar Inc. closed at $80.09 Thursday, down 1.52 percent.