The Rising Influence of Rising Affluence

[DewDiligence]

CAT flattish after 3Q19 results—despite guidance cut due to weak sales in China:

https://finance.yahoo.com/news/caterpillar-reports-third-quarter-2019-103000307.html
https://finance.yahoo.com/news/caterpillar-profit-falls-13-5-104514389.html

Industrial bellwether Caterpillar Inc fell short of Wall Street estimates for quarterly profit on Wednesday and cut its forecast for overall earnings in 2019, as it reported a 13% slide in Asia sales driven by weakening demand in China.

…Caterpillar said the slump in Asia was led by a 29% plunge in construction equipment sales and that it was struggling against growing local competition and the broader economic slowdown as well as retailers slashing inventory.

The new 2019 EPS guidance is $10.90-11.40, down sharply from the prior range of $12.06-13.06.