Shares of Caterpillar Inc. fell on Friday, reversing early gains following the construction and mining equipment maker’s post-earnings conference call with analysts, in which the company provided a downbeat outlook with regard to dealer inventories.
U.S. stocks trade lower Friday, but were off their worst levels, with the technology-laden Nasdaq Composite looking likely to notch the first back-to-back decline since mid-May as investors turn their attention to a flare-up in Sino-American animosities while Republican Senators leave Washington for the weekend without obvious progress on another fiscal stimulus bill.
Boeing is slated to report second-quarter results Wednesday before the bell, giving Wall Street a clearer picture of the coronavirus pandemic’s impact on a company already beset with problems of its own making.
Intel Corp.’s stock faced one of its worst days in 20 years Friday after the chip giant divulged that its next generation of chips would be delayed and that it may seek a third-party manufacturer to make them.