U.S. indexes were in negative territory on Monday. The Dow Jones Industrial Average fell almost 400 points to 24,355, the S&P 500 index declined 1.36% to 2,628 and the Nasdaq Composite Index retreated 1.64% to 7,049.
Shares of Caterpillar Inc. (CAT, Financial) fell almost 10% on Monday after the company announced fourth-quarter results. It reported revenue of $14.3 billion, reflecting 10.9% year-over-year decline, in-line with estimates. Earnings were $2.55 per share, falling 43 cents short of expectations.
Full-year 2018 revenue was $54.7 billion, up 20% from 2017. Full-year earnings were $10.26 per share and adjusted earnings were $11.22 per share, up 63% when compared to a year ago.
"Our global team remained focused on serving our customers, executing our strategy and investing for future profitable growth," Chairman and CEO Jim Umpleby said.
Looking ahead to 2019, the company expects earnings per share between $11.75 and $12.75.
Gainers
- Estee Lauder Companies Inc. (EL, Financial)
- L Brands Inc. (LB, Financial)
- CBS Corp. (CBS, Financial)
- Altria Group Inc. (MO, Financial)
- Tyson Foods Inc. (TSN, Financial)”‹
Losers
- Nvidia Corp. (NVDA, Financial)
- Advanced Micro Devices Inc. (AMD, Financial)
- Eaton Corp. PLC (ETN, Financial)
- Halliburton Co. (HAL, Financial)
- General Electric Co. (GE, Financial)
Global markets
The main European stock markets traded lower. The U.K.'s FTSE 100 declined 0.91%, France's CAC 40 fell 0.76%, Germany's Dax slipped 0.63% and Spain's IBEX 35 tumbled 1.34%.
In Asia, Japan's Nikkei 225 fell 0.60%, India’s BSE Sensex dipped 1.02%, Hong Kong's Hang Seng gained 0.03% and China's Shanghai Composite lost 0.18%.
Disclosure: The author holds no positions in any stocks mentioned.
