Caterpillar rallies after results beat expectations, buybacks The stock is up 5.7% to $91.14 after the company announced results that beat expectations and announced a new $10 billion share repurchase program. At current price resistance is at the high of the session at $92.30, support is at the low of $90.86. A key technical barrier for the shares is the most recent pivot high at $93.20.
Chanos says heavy equipment companies 'have the wind in their face' Jim Chanos of Kynikos Associates said on CNBC that the companies selling heavy equipment will "have the wind in their face" for years as inventory is worked though. Chanos added that he remains short shares of Caterpillar (CAT), pointing out the company acquired Bucyrus at the top of the market. Peers of Caterpillar include Deere (DE) and AGCO (AGCO).