Caterpillar Inc. (NYSE: CAT) posted lower profits of $1.08 per share compared with $1.50 per share in the year ago period and lowered its outlook for 2009. The maker of bulldozers and other construction equipment also announced plans to cut nearly 20,000 jobs sending the stock price plunging $3.36 to $32.30.
Caterpillar Disappoints
January 26, 2009 at 13:21 PM EST
