CAT results not boosting related names

|By:, SA News Editor

Caterpillar managed to burn the shorts with Q4 results today - with big expense cuts and a new $10B buyback program - but other global growth bellwethers are having none of it. Joy Global (JOY -0.8%) and Cummins (CMI -1.3%) have given back early gains to turn solidly lower and Deere (DE +0.1%) is barely hanging on.

"Despite our expectation that mine production will continue to increase, we expect mining companies to further reduce their capital expenditures in 2014 ... we're expecting sales in resource industries to decline modestly."