Amidst the global turmoil in the construction industry, Caterpillar Inc (NYSE:CAT) announced a 67% increase in its second-quarter profits for 2012 on Wednesday. Caterpillar Inc (NYSE:CAT) even improved its forward-looking estimates for annual profit per share for 2012, to $9.60 from $9.50. Following this announcement, Caterpillar Inc (NYSE:CAT) went up 2.86% and closed on Thursday at $83.30.
However, a bleak outlook was maintained for the next two quarters, with revenue forecasts revised downwards from the range of $68 to $72 billion, to $68 to $70 billion. The dues built up to 3.35% from 3.19% in...