New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 29, 2014
12:02 EDTCMI, PCAR, NAVCummins hits 52-week high after beat and raise quarter
Shares of engine maker Cummins (CMI) are rising after the company's first quarter results beat expectations and it raised its fiscal 2014 revenue outlook. Meanwhile, shares of peer PACCAR (PCAR) are sliding despite its earnings and revenue also beating the consensus forecast. WHAT'S NEW: This morning, Cummins reported first quarter earnings per share of $1.83 and revenue of $4.4B, topping expectations of $1.67 and $4.18B, respectively. Cummins raised its FY14 revenue growth view to 6%-10% from 4%-8%, citing improving demand in North America. FY14 revenue consensus is $18.6B. The company also forecast its FY14 EBIT, or Earnings Before Interest & Tax, to be 12.75% to 13.25% of its sales. Chairman and CEO Tom Linebarger said, "We delivered good incremental margins in the first quarter as demand in on-highway markets in North America improved. We are also well on track to deliver the expected benefits from our North American distributor acquisitions as we execute our plans and end market demand improves." WHAT'S NOTABLE: PACCAR also reported better than expected Q1 results this morning, with Q1 EPS and revenue of 77c and $4.38B, topping estimates of 76c and $3.99B, respectively. It forecast Class 8 industry retail sales for the U.S. and Canada in 2014 to be in a range of 220K-240K vehicles, compared to the 212K vehicles sold in 2013. "The increased market is due primarily to the ongoing replacement of the aging truck population and improving construction and automotive sectors. The truck market in 2014 may also benefit from some expansion of industry fleet capacity, reflecting continued strong freight demand, said the company. In Europe, it is estimated that industry sales in the above 16-tonne truck market will be in the range of 200K-230K units and truck sales in Brasil in the above 6-tonne segment in 2014 are estimated to be in a range of 140K-150K vehicles, predicted PACCAR. PRICE ACTION: Near noon, Cummins rose $4.77, or about 3.3%, to $150 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $151.80. Shares of were down nearly 3% to $63.93 at midday. OTHERS TO WATCH: Navistar International (NAV) also designs and makes diesel engines for the pickup truck, van and sport utility vehicle markets.
News For CMI;PCAR;NAV From The Last 14 Days
Check below for free stories on CMI;PCAR;NAV the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2014
08:15 EDTCMICummins management to meet with Piper Jaffray
Subscribe for More Information
08:09 EDTPCARPACCAR reports Q2 EPS 90c, consensus 89c
Reports Q2 revenue $4.57B, consensus $4.43B.
July 28, 2014
16:32 EDTCMIOn The Fly: Closing Wrap
Subscribe for More Information
15:47 EDTPCARNotable companies reporting before tomorrow's open
Subscribe for More Information
15:26 EDTPCARPACCAR technical comments before results
Subscribe for More Information
10:57 EDTCMICummins says demand in China impacted by less infrastructure activity
Subscribe for More Information
07:37 EDTCMICummins raises FY14 revenue guidance to 8%-11% from up 6%-10%
Subscribe for More Information
07:31 EDTCMICummins reports Q2 EPS $2.43, consensus $2.38
Reports Q2 revenue $4.84B, consensus $4.83B.
July 25, 2014
11:52 EDTCMICummins technical notes ahead of earnings
Subscribe for More Information
July 23, 2014
12:59 EDTCMIEarnings Preview: Caterpillar shares near 52-week high ahead of Q2 report
Subscribe for More Information
10:44 EDTCMICaterpillar read-through modest negative for Cummins, says Wells Fargo
Subscribe for More Information
July 17, 2014
10:00 EDTNAVOn The Fly: Analyst Initiation Summary
Subscribe for More Information
July 16, 2014
17:38 EDTNAVNavistar initiated with an Overweight at Piper Jaffray
Target $46.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use