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Caterpillar, Yelp among biggest premarket movers

[October 23, 2014]  By Ryan Vlastelica

NEW YORK (Reuters) - Dow component Caterpillar Inc was among Thursday's biggest premarket movers, with the heavy machinery maker up on heavy volume following its results.

The stock rose 6.5 percent to $100.75 before the bell after posting revenue that beat analysts' forecasts. Caterpillar also said that its expectations for 2014 earnings continued to improve.

Also higher in premarket was General Motors Co <GM.N>, which gained 2.8 percent to $32.20 following its results. The automaker has been under heavy pressure this year, falling about 23 percent thus far in 2014.

On the downside, Yelp Inc <YELP.N> slumped 11 percent to $62.32 on heavy volume a day after giving a revenue outlook that was below expectations. The outlook prompted many analysts to cut their price targets on the stock.

In the broader market, U.S. stock index futures were higher, adding to earlier gains on Caterpillar's results.

(Editing by Bernadette Baum; Editing by Lisa Von Ahn)

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