Caterpillar reopens most Chinese facilities

Caterpillar (CAT +1.8%) is one of today’s top gainers on the Dow Jones after the company reopened most of its facilities in China after receiving approval from the local government following the coronavirus outbreak.

None of CAT’s factories are in the worst affected province, but the company had delayed reopening by a week after the Lunar New Year; China accounts for ~10% of Caterpillar’s global sales.

Industrial names in general are performing well today: DE +1.3%, CMI +1.1%.

https://seekingalpha.com/news/3540633-caterpillar-reopens-chinese-facilities