Caterpillar Attempts To Stabilize After Thursday's Plunge

Caterpillar Inc. CAT shares are trading higher by $0.70 at $95.06 in Friday's session.

On Thursday, the issue shed $4.32, falling from $98.58 to $95.36, when agents from the IRS, FDIC and Commerce Department participated in a search of Caterpillar offices to obtain information on potential accounting irregularities.

After bottoming at $92.84 on Wednesday, the issue rebounded to end the session at $94.36. At this time, that level is providing support for the issue as the low for the day stands at $94.21. The rally off that low was halted $95.90 and the issue is attempting to remain in the $95.00 handle.