Caterpillar Reports Earnings: Market Happenings For Monday, October 22, 2012

Premarket, futures are up. Gainers this morning include BTU (+6.57%), BMC, DHR, CVC and AMD while losers include VFC (-4.62%), ORLY, AN, DE and AZO.

The Market

Caterpillar Inc. (CAT) reported third-quarter 2012 sales and revenues of $16.445 billion, a 5% increase from third-quarter 2011 sales and revenues of $15.716 billion. Earnings per share for the third quarter of 2012 was $2.54, up 49 percent from $1.71 per share in the third quarter of 2011. Third-quarter 2012 earnings per share includes a pre-tax gain of $273 million from the sale of a majority interest in Caterpillar’s third party logistics business, which had previously been announced. Analyst estimates were for $2.22 earnings per share.

Caterpillar said it expects to earn between $9 and $9.25 per share on sales of about $66 billion in 2012. Analysts had predicted full-year earnings of $9.40 per share on sales of $67 billion.

Dupont (DD) reports earnings tomorrow before the market open.

UTX, MMM, BA, T, PG and MRK all report earnings later this week.

Apple (AAP) which I think should be a Dow stock also reports earnings later this week.

European stocks are mixed and Asian markets closed higher.

Earnings Reports

Earnings reports (estimates): CAT-Caterpillar ($2.22), FCX-Freeport-McMoran (0.73), TXN-Texas Instruments (0.47), YHOO-Yahoo! (0.26), VFC-VF Corp. (3.49), STI-Suntrust Banks (0.21), WYNN-Wynn Resorts Ltd. (1.34), NLSN-Nielsen Holdings (0.50), WDC-Western Digital (2.30), BTU-Peabody Energy (0.34), CE-Celanese (0.90), WRB-WR Berkley (0.54), HAS-Hasbro (1.20), GNC-GNC Holdings (0.58), ACC-American Campus Communities (0.10), ZION-Zions Bancorp (0.34).

Financial Calendar

1100 ET USDA weekly grain export inspections.

1130 ET Weekly 3-mo and 6-mo T-bill auctions.

1500 ET USDA Cold Storage report.

1600 ET USDA Crop Progress.

2100 ET Obama-Romney debate at Lynn University in Boca Raton, Florida. Focus on foreign policy.

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