Caterpillar Gains After Clarifying ‘High Water Mark’ Comment
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Caterpillar management said at the Wells Fargo Industrials Conference that the "high water mark" comment from the first-quarter earnings call wasn’t meant to suggest that markets are peaking. Shares rose as much as 1.3 percent in pre-market trading.
"All we meant was that we had an exceptionally strong first quarter," Caterpillar’s management added.