Caterpillar Inc, the world's largest maker of construction equipment, posted a 55 percent drop in quarterly profit on Monday and set a cautious tone for the year, citing weak demand and oversupply.Executives at the company, which last year slashed production to reduce inventory, balanced their optimism on recent improvements in U.S. housing starts with concern about China's slowing growth, the U.S. deficit and eurozone instability.However, investors took heart in Caterpillar's 2013 profit forecast of $7 to $9 per share, lifting the stock 1.8 percent in afternoon trading.Of the 25 analysts in the United States, Canada, Britain and South Korea who cover Caterpillar's stock, seven had cut 2013 profit estimates in the past month, with the lowest at $7.63 per share, according to Thomson Reuters I/B/E/S.
Caterpillar Inc. (Caterpillar) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Shares of CAT traded higher by 1.88% or $1.8/share to $97.38. In the past year, the shares have traded as low as $78.25 and as high as $116.95. On average, 6057470 shares of CAT exchange hands on a given day and today's volume is recorded at 14798961.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.78% or $-0.24/share to $30.56. In the past year, the shares have traded as low as $26.20 and as high as $31.06. On average, 770217 shares of TRI exchange hands on a given day and today's volume is recorded at 598587.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.61% or $-0.19/share to $30.77. In the past year, the shares have traded as low as $26.47 and as high as $31.22. On average, 826879 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 715535.
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