Caterpillar sales jump -first quarter
Caterpillar (NYSE:CAT) shares have jumped after the company reported a profit for the first quarter of 2017. It was the first time they recorded a profit in more than 2 years, with an increase in sales boosting revenue.
CAT’s stock increased more than 6% to $102.78 in premarket trading in New York on Tuesday this week; and by the end of the day it was up to $104 – an increase of 7.49%.
Adjusted earnings of $3.75 per share are expected as the average for 2017, up from $2.90 that had been forecast.