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Bellwether stock #2: Caterpillar (CAT)

Posted Aug 1st 2009 10:00AM by Louis NavellierLouis Navellier RSS Feed
Filed under: Earnings Reports, Caterpillar (CAT), Stocks to Sell


bellwether stocks caterpillarConstruction manufacturer and Dow component Caterpillar (NYSE: CAT) reported earnings of 72 cents per share, well ahead of expectations of a 22-cent per share profit.

Top-line revenue came in at $7.25 billion, which is a lot of money. Unfortunately, it was nearly a billion-and-a-half dollars below expectations of $8.86 billion.

How did Caterpillar manage to achieve its earnings beat on lower-than-anticipated revenue?

Cost cutting.

The company did raise its guidance for fiscal year 2009, but I don't see this coming from robust sales.

I rate Caterpillar a D, or sell.

At the time of publication, Louis Navellier held positions in Caterpillar.

Next: Stock #3

Tags: bellwether stocks, CAT, caterpillar, louis navellier, stocks to sell

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