Caterpillar posts lower earnings, cuts sales outlook

The world's largest construction and mining equipment maker also cut its full-year revenue outlook for the second time while increasing its estimate of 2016 restructuring costs. Shares of Caterpillar were down 1 percent at $85.17. The company, which last year had announced plans to cut jobs and close factories, expects its challenges to persist into next year, Chief Executive Officer Doug Oberhelman said in a statement.