Why Caterpillar Stock Is Crushing the Market This Week
There's no stopping Caterpillar (NYSE: CAT) stock this week -- shares of the Dow Jones Industrial Average component were up 13.7% through the week as of 9:45 a.m. ET Friday, according to data provided by S&P Global Market Intelligence. The Dow was up about 3% this week as of the time of this writing.
Caterpillar is considered an economic bellwether given its unparalleled foothold in the heavy equipment and mining industries. Strong earnings, therefore, can help allay fears about the economy to some extent.
This week, Caterpillar didn't just report stellar numbers for its third quarter that handily beat Wall Street estimates, it also projected solid revenue growth and a "significantly" higher adjusted operating profit margin for its fourth quarter.
Source Fool.com
