Caterpillar share price falls
CATERPILLAR, the manufacturer of earthmoving, mining and agricultural equipment, has suffered a 12% drop in its shares after issuing a profits warning.
The Lex column of the Financial Times says the problem appears to have been the companys attempt to force through a price rise which has hit volumes and now forced it to cut prices again, anyway.
The column expects profits to drop by about a third this year.
- Caterpillar plans to boost world sales, FWi, 23 February, 1999
- Caterpillar shares high-risk, FWi, 02 February, 1999
- Caterpillar expects profit drop , FWi, 21 January, 1999
- Financial Times 22/11/99 page 22 (Lex)