Caterpillar read-through modest negative for Cummins, says Wells Fargo Wells Fargo said Caterpillar's (CAT) retail sales trends for the three months ending in June were mixed relative to the prior month's report, with machines sales trends improving modestly on slightly easier comparisons. Wells adds that the accelerating energy and transportation decline rates reported by Caterpillar could have a modest negative read-through for Cummins (CMI).
Caterpillar sales trends suggest 'muted' 2015 outlook, says Wells Fargo Wells Fargo says Caterpillar's November retail sales trends were weak with growth trends decelerating from October in all segments. Wells believes weakening demand trends suggest Caterpillar may provide "a muted" outlook for 2015, and the firm stays below consensus with its 2015 expectations. Wells has a Market Perform rating on Caterpillar.