$CAT

Caterpillar (CAT) reported fiscal Q3 2026 results with sales of $20.7B, slightly below forecasts, and adjusted EPS of $7.20, above estimates. The stock fell 9.3% on the day of the report. The company's order backlog reached a record $78B, up 96% YoY, with 58% expected to convert to sales in the next 12 months. Revenue growth slowed to 17.3% YoY, down from 24.0% in Q2. Management plans to expand large engine capacity by 2030 and expects moderate sales growth in Q4.

Caterpillar Inc. (CAT) plans to discuss a $1 billion investment in North Carolina factory capacity during a Nov. 17 fireside chat. The event will cover growth initiatives, including Cat Compact™. The company reported 2025 sales of $67.6 billion. A webcast and transcript will be available.

Michael Burry reduced his put options on the VanEck Semiconductor ETF (SMH) by 25% amid a tech selloff, but maintains bearish bets on other sectors and companies. His semiconductor exposure includes Nvidia (NVDA), Taiwan Semiconductor (TSM), AMD (AMD), Broadcom (AVGO), and Micron (MU).

Caterpillar (CAT) fell 6% as the AI selloff spread to industrial stocks. Vertiv (VRT) and Quanta Services (PWR) also declined. Analysts expect CAT's EPS to double by 2028, and its forward P/E dropped to 19x. Power generation is 15% of CAT's 2025 sales.

Caterpillar plans to invest $1B in a North Carolina plant, expanding manufacturing capacity. The project is part of a broader industrial surge in Raleigh-Durham, with increased leasing activity and construction. Other companies, including AbbVie, Siemens, and Forge Nano, are also investing in the region. Research Triangle Park is diversifying with mixed-use and residential developments.

Caterpillar plans to expand production of large reciprocating engines and turbines to meet data center demand. CEO Joseph Creed reported strong Q3 results, with $78B backlog, $3.3B profit (up 43% YoY), and $20.7B revenue (up 17% YoY). Power and energy division sales rose 18% YoY, driven by a 30% increase in power generation sales, largely from data center customers.

Avantis U.S. Large Cap Value ETF (AVLV) reported $263.4M in gross activity, with $29.5M net bought. Top buys included Qualcomm (QCOM) at $50.7M, Texas Instruments (TXN) at $49.7M, and a new position in AT&T (T) at $20.0M. Largest sells were Caterpillar (CAT) at $58.8M, DoorDash (DASH) at $20.4M, and Fortinet (FTNT) at $18.7M. AVLV manages $23.04B in assets and charges a 0.15% fee.

Caterpillar introduced the Cat D11 XE, its largest electric drive dozer, aimed at mining and earthmoving. The machine offers fuel efficiency and reduced maintenance, following the success of smaller electric models like the D6 XE and D8 XE. According to the company, the XE system delivers continuous power and precise control, lowering operational costs.

Raleigh-Durham's economy is diversifying beyond life sciences, attracting investments in tech, semiconductors, and advanced manufacturing. The region saw $4.4B in life sciences VC funding (2019-2024) and now has $140B in manufacturing investments. Companies like AbbVie ($1.4B) and Caterpillar ($1B) are expanding operations, driven by demand and workforce strengths.

Caterpillar (CAT) shares fell 9.25% after Q3 earnings, despite strong sales and profit growth. Morgan Stanley cut its price target to $675, citing risks in data center demand and construction de-stocking. CAT's backlog hit a record $78 billion, but bookings fell 11% QoQ. The stock is up 9.84% YTD, but Morgan Stanley expects a medium-term range of $550-$800.