Biotech Values

[DewDiligence]

[OT] CAT raises guidance without raising its guidance:

Last week, CAT’s CEO, Jim Owens, said business is really, really bad and is probably going to get worse before it gets better (#msg-37261386).

Then, last night, Owens said that sales of excavators to China are back to their peak levels, causing CAT shares to rise 6% today. What gives?

I think this apparent flip-flop is CAT’s backdoor way of raising guidance without being on the hook for meeting the (slightly) improved outlook.