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Cooling energy sector pings Caterpillar

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Caterpillar is posting weak profits and revenue for the second quarter as the energy sector cools.

The construction equipment company on Wednesday reported earnings of $1.62 billion, or $2.83 per share. That’s well short of the $3.12 Wall Street was looking for, according to Zacks Investment Research.

Revenue was $14.43 billion, just shy of analyst projections.

Caterpillar expects full-year earnings in the range of $11.75 to $12.75 per share.

Shares of Caterpillar Inc., based in Deerfield, Illinois, tumbled 5% before the opening bell.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT

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