Caterpillar tanks after company cuts guidance, citing tariffs and lower demand in China

plunged after the company posted disappointing second-quarter results as higher material costs including tariffs and lower demand in China made a dent in its profit.

The heavy machinery manufacturer also lowered full-year earnings guidance to be at the lower end of previous range of $12.06 to $13.06, short of the estimate of $12.24 per share. The worse-than-expected results are partially due to the increase in manufacturing costs, which came from "higher material costs, including tariffs, variable labor and burden and warranty expense," the company said.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Trade talks keep stocks afloat, weak PMIs sink euroGlobal shares crept higher on Wednesday as prospects of fresh China-U.S. trade t... Don't tell me they're 90% done?! This bubble can last only so long. My guess it popsjust before the election next year.
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »

Global Stocks Gain on U.S. Moves on TradeGlobal stocks climbed as the U.S. moved to revive trade talks with China and Congress struck a deal on spending and the federal debt ceiling Only way this happens Trump running Scared.
Fonte: WSJ - 🏆 98. / 63 Consulte Mais informação »