Caterpillar Earnings Hurt By Write-Off

Caterpillar Inc. (NYSE:CAT) profits were down in the fourth quarter of 2012. The company announced earnings of $1.04 per share for the final three months of last year, on revenues of $16.08 billion. Caterpillar, like Alcoa, is used by analysts as a measure of the world industrial climate, because international construction and industry is so dependent on the company's products.

During the same period on 2011, the company earned $2.32 per share on revenues of $17.2 billion. Despite the year on year decline in profit, the company's shares were up in trading this morning by more than 2 percent. The motives...