CAT Issues Downbeat Q1 Earnings Forecast

The website The Street is reporting that Caterpillar Inc offered a lower-than-expected fiscal 2016 first quarter earnings and revenue outlook.It expects adjusted earnings to be between 65 cents a share to 70 cents a share, lower than Wall Street's forecasts of 97 cents a share. 

The Peoria, IL-based company estimates sales to be between $9.3 billion to $9.4 billion compared to analysts' expectations of $10.34 billion.This comes as the company has been challenged by plunging commodity prices.