These are the stocks posting the largest moves before the bell.Market Insiderread more
The Federal Reserve's expected interest rate cuts appears to have impacted J.P. Morgan's forecast for 2019 net interest income.Financeread more
J.P. Morgan chief Jamie Dimon praised the strength of the consumer after the largest U.S. bank posted strong second-quarter quarterly earnings release on Tuesday.Banksread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
KeyCorp said in an 8-K filing the fraud involves a "business customer" and was discovered "on or about" July 9.Banksread more
GE hasn't had a year this good during this millennium. After that massive surge, one trader is warning investors to stay away.Trading Nationread more
Johnson & Johnson's profit jumped 42% in the second quarter, with all three of the sprawling health-care company's businesses performing better than Wall Street expected.Health and Scienceread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Goldman Sachs reported second-quarter results that beat analysts' expectations Tuesday.Financeread more
Early Facebook investor and Trump supporter Peter Thiel weighed in on the Democrats taking on the president in 2020, saying he was "most scared' by Elizabeth Warren.2020 Electionsread more
Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
Caterpillar stock skidded Monday after the company reported earnings that were sharply lower than expected and guidance that was much weaker than expected.
The equipment manufacturer, which is considered a proxy for the global economy, pointed to tariffs and a slowdown in China as majors factor in its disappointing fourth-quarter results.
Caterpillar's shares fell 9.13 percent on Monday, losing $12.49 per share according to FactSet data. The major U.S. indexes posted declines Monday on poor outlooks from Caterpillar and chipmaker Nvidia.
Caterpillar said it now expects 2019 profit to increase to a range of $11.75 to $12.75 per share. Analysts had expected $12.73 per share. Its revenue only slightly exceeded expectations.
Here's how the company did compared with what Wall Street expected:
The revenue results were 11 percent higher from a year earlier, when it reported revenue of $12.9 billion.
Caterpillar's results were hurt by a slowdown in sales in China, where economic growth has slowed to levels not seen in almost two decades amid a trade war with the United States.
Sales in the Asia/Pacific region declined due to lower demand in China and unfavorable currency rates. China represents 5 to 10 percent of Caterpillar's total sales and revenue, Chairman and CEO Jim Umpleby said on a call with investors
"Sales in Asia/Pacific declined due to lower demand in China, partially offset by higher demand in a few other countries in the region," the company said in its earnings press release. "Unfavorable currency impacts also contributed to the sales decline."
Caterpillar also said higher material and freight costs due to tariffs, steel prices and supply chain inefficiencies impacted its results.
The U.S. has imposed tariffs on $250 billion worth of Chinese goods ranging from consumer to industrial products. Beijing responded with tariffs on $110 billion in U.S. goods.
In December, Washington and Beijing agreed to a cease-fire in the trade war and promised to stop adding trade tariffs for 90 days. The countries have until March 2 to reach a resolution.
On a call with investors, Umpleby said Caterpillar will closely monitor costs and expects price to offset manufacturing cost increases in 2019.
"At some point there will be a market downturn," Umpleby said. "We're not calling that in '19. But whenever that does occur we're certainly in a better position to generate cash than we were in the last downturn."
Construction industry sales in the Asia/Pacific region declined 4 percent, or $64 million, from the same quarter a year earlier, according to Caterpillar.
"In Asia-Pacific, we expect construction growth in countries outside of China," Umpleby said on a call with investors. "Within China, the industry is very dynamic and there are a variety of forecasts. We will continue to monitor the situation but as of now we are forecasting the overall China market to be roughly flat in 2019 following two years of significant growth."
In North America, construction industry sales increased 17 percent in the quarter over a year earlier. The company said sales increased due to higher demand for new equipment, primarily to support oil and gas activities and non-residential building construction.
When Caterpillar announced disappointing guidance in its third-quarter 2018 statement, its stock fell 7.5 percent on Oct. 23 to its lowest levels since 2011. The industrial giant said costs were rising due to tariffs and increases in steel prices. Caterpillar said the impact of tariffs on material costs for the third quarter was $40 million.
The Illinois-based company told its dealers prices would rise by 1 percent to 4 percent worldwide on machines and engines with some exceptions to offset higher material costs.
Correction: This story was revised to correct when Caterpillar's stock fell 7.5 percent. It was on Oct. 23.
—The Associated Press contributed to this report.