caterpillar

caterpillarU.S. stocks fell, trimming the Standard & Poor’s 500 Index’s weekly gain, as Caterpillar Inc. lower-than-estimated profit offset a rally in technology shares and optimism that Europe’s debt crisis will be contained. Caterpillar slid 6.4 percent as the world’s largest maker of construction and mining equipment reported lower-than- expected profit because of Japan’s record earthquake and slower demand from China. C.R. Bard Inc. declined 10 percent, the most in the S&P 500, as the maker of surgical specialty products forecast third-quarter earnings that fell short of estimates. Technology stocks in the S&P 500 rallied 0.4 percent, the only gain among 10 industries, as Advanced Micro Devices and SanDisk Corp.


topped estimates. The S&P 500 fell 0.3 percent to 1,339.61 at 10:21 a.m. in New York, paring the advance since July 15 to 1.7 percent. The Dow Jones Industrial Average dropped 61.19 points, or 0.5 percent, to 12,663.22. “Caterpillar’s clearly a bellwether,” said Robert Carey, chief investment officer at First Trust Portfolios LP in a telephone interview. The Wheaton, Illinois-based firm oversees about $50 billion. “Given the overwhelming number of companies that have beat estimates, anybody that comes up short is not going to be treated well.” Aid for Greece

caterpillar