CAT outlook brightens after 3Q ‘low point’

Caterpillar Inc. (NYSE:CAT) chief executive Jim Owens called the recently ended third quarter the "low point for Caterpillar sales and revenue." The heavy equipment manufacturer reported sales of $7.29 billion for the quarter, down 44% from the same period a year earlier. Profit for the quarter dropped to $404 million, from $868 million. It's been a brutal year for CAT, which in early 2009 posted its first quarterly loss in 17 years . The company responded with a restructuring initiative