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Wells Fargo: Caterpillar Retail Sales Report Slightly Negative (CAT)

buy hold sell street sign ratingsWells Fargo (NYSE: WFC) reports Caterpillar (NYSE: CAT)’s dealer statistics are remaining weak versus June and the 2012 calendar year with a minimal decline in machines and power systems.  Wells Fargo sees today’s sales report as a modest negative for Caterpillar and maintains a Market Perform rating on stock.

 

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Company Profile:

Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide.  Its Financial Products segment provides retail and wholesale financing alternatives for Caterpillar equipment, machinery, and engines; offers property, casualty, life, accident, and health insurance, as well as insurance brokerage services; and purchases short-term receivables. The company markets its products through its sales force, distribution centers, dealers, and distributors. It was formerly known as Caterpillar Tractor Co. and changed its name to Caterpillar Inc. in 1986. The company was founded in 1925 and is headquartered in Peoria, Illinois.

[stock-tools exchange="NYSE" symbol="CAT" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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