Caterpillar 'Cautious' Heading into Second Half

Shares of Caterpillar (CAT) - Get Report were higher in Tuesday's trading session despite posting weaker-than-expected second-quarter earnings. Earnings of $0.93 a share were $0.03 lower than forecasts. But, revenue of $10.3 billion was slightly better than what had been predicted. The company's CEO said Caterpillar is cautious heading into the second half of the year. The company says it is not expecting an upturn in important industries like mining, oil, gas and rail to happen this year. Caterpillar also lowered its outlook for the full year. The company is now predicting sales to be between $40 and $40.5 billion, with earnings of $3.55 a share, that's at the low-end of previous guidance. Caterpillar also said full-year restructuring costs will come in at about $700 million, an increase of $150 million.