Caterpillar (CAT) released earnings on Tuesday, Oct. 23.
TheStreet's Anders Keitz covered the earnings, reporting that the company beat Wall Street expectations. Caterpillar announced earnings of $2.86 a share, beating FactSet expectations of $2.85 a share.
The company reiterated its full-year adjusted profit per share outlook range of $11 and $12 a share, which compared with analysts' expectations of $11.64 a share.
And, yet, despite the beat, shares plummeted in Tuesday trading.
Jim Cramer said that he's not surprised about the fall and that he doesn't think that Caterpillar is a buy at its current price. If it falls to $110, however, he'd reconsider buying it through his Action Alerts Plus Members Club.
Caterpillar is Real Money's stock of the day. Kevin Curran, a reporter for Real Money, and other contributors will be covering the company from all angles.