Caterpillar (CAT) Sees Strong Upcoming Selling Season in China; Says Miners Still Cautious
Tweet
Share
E-mailGet Alerts CAT Hot Sheet
Price: $827.90 +1.53%
Financial Fact:
Basic (in shares): 584.7M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Basic (in shares): 584.7M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Caterpillar (NYSE: CAT) are higher on the session amid comments issued by Caterpillar's Director of Investor Relations Mike DeWalt at the Morgan Stanley Industrials and Autos Conference today.
DeWalt said that the long-term mining business is "favorable" for Caterpillar, though miners are currently being cautious. Construction is still "fairly depressed" with housing starts still poor despite some improvement.
On China, DeWalt sees an improved upcoming selling season.
Looking ahead, DeWalt cited strong cost-controls by Caterpillar in reaffirming margin performance expectations.
Shares are up over 3 percent Friday.
DeWalt said that the long-term mining business is "favorable" for Caterpillar, though miners are currently being cautious. Construction is still "fairly depressed" with housing starts still poor despite some improvement.
On China, DeWalt sees an improved upcoming selling season.
Looking ahead, DeWalt cited strong cost-controls by Caterpillar in reaffirming margin performance expectations.
Shares are up over 3 percent Friday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nscale targets up to $3B in US IPO as soon as September - Bloomberg
- ATRenew Inc (RERE) Tops Q2 EPS by 8c ; Offers Guidance
- SEC accuses ex-BofA senior banker Satsky of insider trading - Bloomberg
Create E-mail Alert Related Categories
Guidance, Trader TalkRelated Entities
Morgan Stanley, Housing StartsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
