Caterpillar Inc (CAT) Earnings: How Weak Third Quarter Results Impact The US Stock Market

Jonathan Corpina, senior managing partner with Meridian Equity Partners Inc., weighs in on Caterpillar Inc.'s weaker-than-expected fiscal third-quarter earnings. Caterpillar Inc. (NYSE: CAT) reported disappointing fiscal third-quarter profit on Wednesday, as the company issued earnings of $946 million, or $1.45 a share, compared with $1.7 billion, or $2.54 a share, a year-ago. Analysts had expected earnings of $1.66 a share, according to Reuters. Revenue fell 18 percent to $13.4 billion.The company also cut its outlook for 2014 sales and revised its full-year 2013 profit forecast lower, sending shares down 6.25 percent to $83.60 in afternoon trading.