Caterpillar Sees Growth Through 2012 as Net Beats Estimates
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Caterpillar Inc. posted fourth-quarter profit that beat analysts’ estimates and said Wall Street projections for this year were too conservative, lifting the stock market and bolstering expectations the world economy will escape a recession.
Shares of Peoria, Illinois-based Caterpillar jumped as much as 4.5 percent, leading today’s gain in the Dow Jones Industrial Average, after the company said net income climbed 60 percent in the quarter. Caterpillar said the global economy will grow 3.3 percent in 2012, up from 2.8 percent last year.