Machinery maker Caterpillar cut its outlook for the year, blaming global economic uncertainty for lower demand of its products
By Patrick Thomas Oct. 23, 2019 6:55 am ET Caterpillar Inc. CAT 1.10% lowered its earnings outlook for the year after posting lower third-quarter sales, sending shares of the machinery giant down.
The company said that dealers decreased their inventories by about $400 million during the third quarter, after increasing their inventories about $800 million during the same period a year earlier.
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