Caterpillar Soars on Strong Quarterly Results and Raised Forecast

Caterpillar Inc. (CAT) shares jumped Tuesday, April 24, after the construction equipment company beat expectations for both earnings and revenue in the fiscal first quarter and raised its full-year forecast. "Performance was largely driven by better-than-expected volumes on improved end-market demand as well as favorable changes to dealer inventories; pricing was a net positive," JPMorgan analyst Ann Duignan wrote in a note.

The Deerfield, Ill.-based company reported a profit of $2.74 a share, compared to 32 cents during the same period a year ago. Earnings, adjusted for one-time items, came in at $2.82 a share, topping estimates of $2.12. Revenue of $12.9 billion also surpassed analysts' estimates