Caterpillar sales weaken but 2Q results top Street

Caterpillar’s sales tumbled 31% in the second quarter as dealers culled construction equipment from showrooms during the pandemic. Dealers decreased machine and engine inventories by about $1.4 billion during the three-month period, compared with an increase of about $500 million a year earlier. Still, the Deerfield, Illinois, manufacturer topped Wall Street expectations and shares jumped […]