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Caterpillar cuts year outlook, CEO counters Chanos

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Caterpillar reported a lower quarterly profit on Wednesday and cut its outlook for full-year earnings, saying its independent dealers were focused on reducing machine inventories rather than building them up.

Caterpillar CEO: Most Confident I've Been in 2 Years

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The best word to describe the U.S. economy and economies around the world is "stability," Caterpillar CEO Doug Oberhelman told CNBC on Monday, despite the company's earnings and revenue misses and scaled-backed outlook.

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Caterpillar cuts year outlook, CEO counters Chanos

Caterpillar reported a lower quarterly profit on Wednesday and cut its outlook for full-year earnings, saying its independent dealers were focused on reducing machine inventories rather than building them up.