Earnings Wrap: CAT, VFC

Caterpillar (CAT) announced on Monday that profits were higher due to record revenue and sales during the third quarter. The company earned $1.7 billion, or $2.54 per share, versus $1.1 billion, or $1.71 per share, in the same period last year. Sales were higher by 5 percent year-over-year to $16.4 billion. The company, however, lowered its 2012 profit outlook to a range of $9 to $9.25 per share and revenue of $66 billion due to a weaker global economy and fewer orders from dealers.