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Investors are undaunted by the 7% drop in Q2 earnings at Cummins (CMI +6%) just weeks after the...
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Tuesday, July 31, 2012, 3:36 PM ETInvestors are undaunted by the 7% drop in Q2 earnings at Cummins (CMI +6%) just weeks after the cut to its full-year revenue outlook. S&P Capital IQ added $0.25 to CMI's 2012 profit target, saying that, "despite lower revenues, CMI did a good job improving gross margins on price improvement, mix and manufacturing efficiencies," and should see strength "when revenue trends improve."
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