More Records for Caterpillar Stock After Blowout Earnings
Caterpillar Inc (NYSE:CAT) stock rose 8.7% to $880.17 after the company reported better-than-expected first-quarter earnings and revenue. The heavy equipment company's stock is on track to snap a four-day losing streak with its biggest single-day percentage gain since October.
Caterpillar Inc (NYSE:CAT) stock is leading the Dow Jones Industrial Average higher, up 8.7% to $880.17, after the company reported better-than-expected first-quarter earnings and revenue. Demand for AI infrastructure and stronger dealer sales boosted results. The stock bounced off support near the $800 level and is on track to snap a four-day losing streak. Options traders have been bearish, but an unwinding of these bets could push the stock higher. The stock has a 54.4% year-over-year lead and has seen triple the typical trading volume so far today.
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