Caterpillar, Deere on Different Roads With Investors Lately -- WSJ
Dow Jones2026/10/30 18:37By Bob Tita
Caterpillar's strong generator business with AI data centers made it the envy of the machinery industry over the last year as the company's shares soared with high-flying tech stocks.
But decent third-quarter sales and profit from the construction and mining equipment maker on Thursday were brushed aside by jittery investors. The company's shares dropped more than 9% Thursday in a sell-off of stocks with exposure to the AI sector. Caterpillar, which has fallen more than 20% in the past month, was down about 4% Friday.
Rival machinery manufacturer Deere, which ironically has for years tried to attract more tech-focused investors with its automated farming software, has avoided the AI carnage. Deere's shares are up about 45% since the start of the year. Investors have piled into Deere on the expectation that a long slump in the U.S. farm equipment market will ease next year and farmers will start buying more Deere tractors again.
Deere is up about 1.5% on Friday.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
October 30, 2026 14:37 ET (18:37 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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