Why Caterpillar Stock Surged 21% in October

Heavy equipment manufacturer Caterpillar (NYSE: CAT) reported solid third-quarter results on Oct. 29, beating analyst estimates across the board and triggering a rally for the stock.Image source: Getty Images.Revenue rose 10% year over year to $17.6 billion, with the increase driven by higher equipment sales to end users. Adjusted earnings per share came in at $4.95, down from $5.17 in the prior-year period but still well ahead of analysts' expectations. EPS was negatively impacted during the third quarter by a higher effective tax rate and a discrete tax charge.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool