Caterpillar Drops Amid Worries ‘As Good as It Gets’ Creep in
- Company reports higher sales volumes in construction, mining
- Bloomberg Intelligence: implied orders down about 7%
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Caterpillar Inc. shares plunged after the machinery producer reported little change in orders from the start of the year, increasing investor worries that strong demand for equipment in the first quarter may be the best it gets for 2023.
Shares of the Irving, Texas-based company fell as much as 5.6% Thursday in New York, the worst performer on the Dow Jones Industrial Average, and the largest intraday drop in three weeks.