Caterpillar Leads Dow Decliners After Fellow Mining Equipment Maker Reports Disappointing Results

By Tomi KilgoreMarketWatch Pulse

Caterpillar Inc.'s stock slumped 2.1% in morning trade, making it the weakest member of the Dow Jones Industrial Average , after fellow mining equipment maker Joy Global Inc. missed fiscal third-quarter profit and sales expectations and provided a downbeat macroeconomic outlook. Caterpillar's stock is still up 2.3% since it closed at a near four-year low on Aug. 24, but has now dropped 14% over the past three months while the Dow has lost 9%. Joy Global's stock tumbled 17% to a 6 1/2-year low.

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