Caterpillar shares slump despite an earnings beat as construction sales fall short

Bloomberg reports Caterpillar’s third-quarter adjusted earnings of $7.20 a share topped the $7.10 average estimate of analysts it surveyed, but shares fell more than 11% in early trading. MarketWatch reports that the company’s power and energy business benefited from data-center construction, while construction-industry sales fell short. The stock’s decline turned the Dow negative.