Caterpillar stock up!

I talked to a friend that works at Cat Inc he told me that lots of states were mining is done are moving like crazy, pushing sales on Cat were other places like the west and east coast are slow due the the lack of new building due to the recession.

I just got home from the Detroit area (here in Michigan we call it the "East Coast"). I passed what appeared to be two brand-new D9's waiting to start work on a highway project.

Big pipeline job in West Virginia south of wheeling, around 27 dozers and 31 excavators I believe.

It would likely be a lot higher if they could fill some of the orders dealers have in, lead times on some mining gear is out over a year.

They are certainly expanding capacity though, when i went through Decatur plant a couple weeks ago they have a 2 year expansion underway that will see them boost yearly production of around 800 trucks to 1600.

Cat released financial results for the 1st quarter of 2011 on Friday. You can go to www.cat.com and look at corporate press releases. In a nutshell, sales were up 57% and profit up more than 400% based on first quarter 2010 results. It was an all time record quarter for the company. The stock price reacted accordingly with a significant increase on Friday. It sticks in my mind that a spokesman for the company said in an interview on Friday that Cat is seeing increased sales from all the economies of the world, however I couldn't lay my eyes on it this morning, so I'm trusting my memory. Cat also revised their 2011 outlook saying it will be a better year than previously predicted.

Regards,
Lee

I think we can all agree that Caterpillar Machines are the best so why would their stock not go up.
On another note, As a stock holder of Cat inc. according to the proxy vote card you have to go to Arkansas to vote in-person for the Caterpillar BOD elections. I would have thought Peoria would have been the location of choice.