Caterpillar's Stock To Weigh Heavily On Dow, As It Heads Toward 5-year Low
Caterpillar Inc.'s stock dropped $4.59, or 6.5% in premarket trade Thursday, which would shave about 31 points from the Dow Jones Industrial Average after the open, after jobs cuts and a restructuring plan were announced. With Dow futures down 160 points, Caterpillar's stock would be contributing about one-fifth of the decline. The stock is on track to open at the lowest price seen since Aug. 31, 2010.
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