Caterpillar shares fell sharply in early Thursday trading after the company slightly missed third-quarter sales expectations. The shortfall came from construction industries, while the power and energy business kept growing on data center demand.
Shares of Caterpillar were suffering a big loss in early Thursday trading, as investors expressed disappointment over a slight miss in third-quarter sales.
However, the miss did not come from the company's power and energy business. That unit has been benefiting from the data center build-out, and sales growth accelerated and prices increased.
Instead, sales from the construction industries business came up short, which left Wall Street disappointed even as the data center business held up.
Source: MarketWatch (snippet-based)
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