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Caterpillar (CAT +1.2%) says its global machinery retail sales fell 9% in April, with a 20% drop in its Asia/Pacific segment and 18% drop in North America. Latin America was a bright spot in April, rising 28%. The surge in LatAm is encouraging, says Wells Fargo's Andrew Casey, especially when compared to last Aprils 12% increase. But, with demand in the other regions still contracting as heavily as they are, near-term hopes for CAT look dim regardless of how gangbusters the company is doing in South America.
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