TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said there have been companies that have note been able to deliver numbers and there have been companies that have not been able to tell stories on earnings calls.

"Those are very different," Cramer said. 

Investors were disappointed with Caterpillar's (CAT) commentary on its earnings call Tuesday referring to the most recent quarter's results as the "high water mark" for the year. 

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