Monday, October 22, 2007

Caterpillar Earnings Less Than Expected


Despite the recent optimism in the commercial building market and strong overseas sales, Caterpillar earning for the 3rd quater were less than expected causing stocks to slip. This is the second dissapointing quarter for the heavy equipment manufacturer. The housing market slump seems to be the obvious culpret for the 11% drop in North American sales last quarter.

[via forbes.com]

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