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Tuesday, January 27, 2015

DuPont blames strengthening dollar for muted forecast, (NYSE: CAT)

DuPont forecast lower-than-expected revenue and profit for 2015, joining a growing list of large U.S. corporations that have warned of a stronger dollar hurting earnings.Shares of the company, under pressure from activist investor Nelson Peltz to improve shareholder returns, fell as much as 3.5 percent to $71.50 in morning trade.DuPont, which generates 60 percent of its sales outside the United States, said a strengthening dollar would cut its full-year profit by 60 cents per share.Several companies, including Caterpillar Inc, Microsoft Corp and Procter & Gamble Co, have blamed the stronger dollar for their weak results and outlook.

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 fell by 7.35% or $-6.32/share to $79.71. In the past year, the shares have traded as low as $83.05 and as high as $111.46. On average, 5290120 shares of CAT exchange hands on a given day and today's volume is recorded at 15919613.