Caterpillar's stock surges toward a record after a big earnings beat, amid a jump in profit margin

Shares of Caterpillar Inc. CAT, +2.41% climbed 3.2 into record territory in premarket trading Monday, after the maker of construction and mining equipment reported fourth-quarter profit that rose well above forecasts, with particular strength in its energy and transportation business. Net income jumped to $2.68 billion, or $5.28 a share, from $1.45 billion, or $2.79 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $5.23 beat the FactSet consensus of $4.76. Reven ...