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Stock Market & Financial Investment News

News Breaks
April 29, 2014
12:02 EDTNAV, PCAR, CMICummins 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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August 28, 2015
08:23 EDTNAVNavistar volatility elevated into Q3 and outlook
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August 26, 2015
10:00 EDTPCAROn The Fly: Analyst Upgrade Summary
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06:44 EDTPCARPACCAR upgraded to Overweight from Neutral at Piper Jaffray
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August 21, 2015
10:02 EDTCMICummins upgraded to Buy from Hold at Standpoint Research
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August 19, 2015
10:00 EDTNAVOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
06:31 EDTNAVNavistar initiated with a Neutral at Macquarie
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