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Caterpillar Falls Amid News Of Sales Decline

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Shares of Caterpillar Inc. (NYSE: CAT) fell 2 percent Thursday morning following news that for the three-month rolling period ending in January, retail machine sales were down 14 percent globally compared to the prior year period.

The Latin America region posted the largest move with a 36 percent decline. Asia turned in the second worst performance with a 19 percent decline.

The news follows Caterpillar’s downbeat Q4 earnings report in January.

Caterpillar recently traded at $83.19, down 1.8 percent.

Deere & Company (NYSE: DE) also fell amid the news and recently traded at $92.12, down 0.72 percent.

Other names to watch in the space were mixed. Komatsu Ltd (ADR) (OTC: KMTUY) was down 0.10 percent Thursday to $20.74. Cummins Inc. (NYSE: CMI) traded higher at $140.53, up 0.27 percent.

CNH Industrial NV (NYSE: CNHI) was also higher and recently traded at $8.62, up 0.82 percent.

 

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