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CAT Issues Downbeat Q1 Earnings Forecast

* : * : admin * : 2016-03-21 * : 50
The website The Street is reporting that Caterpillar Inc offered a lower-than-expected fiscal 2016 first quarter earnings and revenue outlook.It expects adjusted earnings to be between 65 cents a share to 70 cents a share, lower than Wall Street's forecasts of 97 cents a share. 

The Peoria, IL-based company estimates sales to be between $9.3 billion to $9.4 billion compared to analysts' expectations of $10.34 billion.This comes as the company has been challenged by plunging commodity prices.