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Stock Market & Financial Investment News

News Breaks
April 29, 2014
12:02 EDTPCAR, CMI, 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
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February 9, 2016
07:40 EDTCMICummins announces $500M accelerated share repurchase
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February 4, 2016
07:32 EDTCMICummins sees FY16 revenues declining 5%-9%, consensus $17.81B
Sees FY16 EBIT 11.6%-12.2% of sales.
07:32 EDTCMICummins reports Q4 adjusted EPS $2.02, consensus $2.11
Reports Q4 revenue $4.8B, consensus $4.68B.
February 3, 2016
14:48 EDTCMINotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Philip Morris (PM), consensus 81c... AstraZeneca (AZN), consensus 88c... Occidental Petroleum (OXY), consensus (12c)... ConocoPhillips (COP), consensus (65c)... Cigna (CI), consensus $1.80... Intercontinental Exchange (ICE), consensus $3.01... Boston Scientific (BSX), consensus 25c... Charter Communications (CHTR), consensus (12c)... Ralph Lauren (RL), consensus $2.13... Dunkin' Brands (DNKN), consensus 50c... GrubHub (GRUB), consensus 14c... Level 3 (LVLT), consensus 53c... AmerisourceBergen (ABC), consensus $1.25... Cummins (CMI), consensus $2.11.
February 1, 2016
10:02 EDTPCAROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:26 EDTPCARPACCAR downgraded to Underperform from Peer Perform at Wolfe Research
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January 29, 2016
12:11 EDTPCARPACCAR sees 2016 margins similar to 2015
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08:03 EDTPCARPACCAR reports Q4 EPS 98c, consensus $1.02
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