January 28, 2013 at 11:55 AM EST
Caterpillar Hits Fresh High As Inventory Dips $2 Bil
Caterpillar (CAT) shares rose 3% early Monday to the highest level since last May after it reported fourth quarter results and said it reduced inventory by $2 billion during the quarter, easing an inventory glut. But shares lost much of the initial gain later in the morning because it also said in the report, which came before the market opened, that Q4 earnings per share and revenue both fell from the same quarter last year, and prospects for
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