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.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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.
Fuente: Reuters - 🏆 2. / 97 Leer más »

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.
Fuente: WSJ - 🏆 98. / 63 Leer más »