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Caterpillar Stock Draws in Bears Despite Earnings Win
CATCaterpillar(CAT) Schaeffers Investment Research·2024-08-06 14:21

Caterpillar Inc. (NYSE:CAT) stock is up 3.2% to trade at 326.79atlastcheck,afterthebluechipreportedbetter−than−expectedearningsandrevenueforthesecondquarter.Thecompanynoted higherpricesforlargerexcavatorsandequipmentoffsetslowerdemandinNorthAmerica.Thesharesarebouncingoffafamiliarfloorat326.79 at last check, after the blue chip reported better-than-expected earnings and revenue for the second quarter. The company noted higher prices for larger excavators and equipment offset slower demand in North America.The shares are bouncing off a familiar floor at 310, which served as a launching pad in February to their April 8, record high of $382.01. While CAT has cooled from that peak, it looks to be relying on support from the 200-day mov ...