After soaring over 15% in the post-Trump period, Caterpillar shares are halted this morning ahead of a presentation at Credit Suisse Annual Industrial Conference. The presentation shows cost cuts, layoffs, and admits that 2017 consensus estimates are "too optimistic."
- CATERPILLAR ON TRACK FOR OVER $2B COST REDUCTION FOR 2016
- CAT: COST CUTS INCL COMBINED/REDUCED FUNCTIONS, FEWER PEOPLE
- CAT: FIRST CALL 2017 CONSENSUS ESTIMATE $3.25 TOO OPTIMISTIC
- CAT: FIRST CALL '17 CONSENSUS EST. $38B SALES TOO OPTIMISTIC
Re-opened…Buy the dip…
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