Caterpillar a harbinger for construction
earlier today Caterpillar announced adjusted earnings-per-share of $2.12 vs. estimates of $1.45. Revenues came in at $11.2 billion vs. estimate $10.48 billion.
The heavy construction company said that they see sequential improvement in operating profit margins.
Their CEO is on the wire saying that:
- expects services will return to growth in 2021
- that he sees further improvement a mining fundamentals
- sees housing boom leading to 2021 sales recovery
- China sales helped fuel recovery in the quarter
The comments are bullish on the overall prospects big construction in 2021.
Honeywell CFO is also speaking more positively saying worst is behind us as markets recover.
Shares of Caterpillar are trading up 1.43% in premarket trading
Meanwhile US stocks are off there low levels after the J&J vaccine the news. The futures and out implying
- S&P index my 13 points
- NASDAQ -50 points
- Dow industrial average -144 points
At the start of the New York session, the futures are implying much lower levels:
- S&P index is trading down -37 points
- NASDAQ index is currently trading down down -134 points
- Dow industrial average down $-330
