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0.00166243765858778 0.00323125382798141 0.00507480969463644 0.00249365648788167 0.00608102196167638 0.00209992125295297 -0.00100621226704007 0.00540817219354273
Stock impact report

Caterpillar's stock tumbles to pace the Dow's decliners after BofA analyst turns bearish [MarketWatch]

Caterpillar, Inc. (CAT) 
Last caterpillar, inc. earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: caterpillar.com/en/investors.html
Company Research Source: MarketWatch
Shares of Caterpillar Inc. tumbled 8.6% in morning trading, enough to pace the Dow Jones Industrial Average's decliners, after BofA Securities analyst Ross Gilardi turned bearish on the construction and mining equipment maker, citing signs of end-market trouble. Gilardi lower his rating to underperform from neutral. He said the "traditional playbook" would be to buy Caterpillar's stock during a recession as central banks inject massive monetary and fiscal stimulus, but Gilardi said this time is different. "Energy and mining stocks are signaling another severe capital spending downturn in two of [Caterpillar's] most important end markets that are as much structural as cyclical," Gilardi wrote in a note to clients. "We are not holding our breath for a federal infrastructure bill." And he expects dealer sales are likely to get worse before they get better. Although Gilardi believes Caterpillar has a "fortress" balance sheet, the relatively high dividend yields of its largest customers, s Show less Read more
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