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Fly News Breaks for July 22, 2015
CMI, CAT
Jul 22, 2015 | 10:37 EDT
Wells Fargo said that Caterpillar's (CAT) June period sales data suggests "at minimum" that consensus revenue expectations for the company, which reports its earnings tomorrow, are likely too high. The firm noted that Caterpillar reported faster rates of decline in the three months ending in June for both its Energy & Transportation and Machines sales than in the May-end period, which its views as negative for Cummins (CMI) as well. Wells keeps a Market Perform rating on Caterpillar shares.
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