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Cummins Inc. (CMI)

- NYSE
  • Feb. 28, 2013, 9:07 AM
    A screen searching for stocks Warren Buffett (BRK.B) may be interested in turned up 28 names, but only one - ADM - is a current Berkshire holding. Most likely to catch the Oracle's eye from the rest of the list, writes Jack Hough in Barron's, is Sysco (SYY), Cummins (CMI), and Illinois Tool Works (ITW).
    | 3 Comments
  • Feb. 25, 2013, 2:06 PM
    Cummins (CMI +0.5%) bucks a weak tape after Goldman Sachs ups the shares to Conviction Buy with a price target of $144. The price target represents a 30% upside from current levels, as Goldman says it's expecting a strong new product cycle in machinery, with contract awards in the coming months that could exceed $1B. The firm adds that CMI's core global truck markets are also in the early stages of recovery as production rises off trough 1Q levels.
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  • Feb. 15, 2013, 3:48 PM
    This morning's spike in shares of Westport Innovations (WPRT +7.6%) on takeover speculation gains momentum into the close. Chatter centers around potential interest from Cummins (CMI +0.3%), already involved in a JV that accounts for much of WPRT's medium-term profits.
    | 17 Comments
  • Feb. 12, 2013, 6:08 PM
    Citigroup is out with another report anticipating U.S. energy independence by 2020, a time when "the bottom of today’s trading range ($90-$120/bbl) is going to be the top of the likely trading range" for crude oil. Among companies Citi mentions as big players and potential beneficiaries: CMI, NUE, ECA, CAT, DE, GE, MMM and SI.
    | 2 Comments
  • Feb. 12, 2013, 5:47 PM
    Cummins Inc. (CMI) declares $0.50/share quarterly dividend, in line with previous. Forward yield 1.68%. For shareholders of record Feb. 22. Payable Mar. 01. Ex-div date Feb. 20. (PR)
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  • Feb. 6, 2013, 10:13 PM
    A dour management team on the Cummins (CMI +2.6%) earnings call today wasn't enough to shake the bulls. Full year North American revenue growth of 9% sounds good, but the CEO was quick to point out +40% Y/Y in Q1 was followed by -8% Y/Y in Q3 and Q4. In China, inventory levels are so high, even a big spring selling season may not be enough to clear them. Mining? "The weakest of any major end market we serve ... revenues could decline by as much as 25% for the full year."
    | 5 Comments
  • Feb. 6, 2013, 7:41 AM
    More on Cummins (CMI) Q4 earnings: Revenue falls 13% Y/Y driven by weak demand pretty much everywhere. The company has trimmed costs, "however there is uncertainty surrounding the timing and pace of improvement in end markets in 2013." 2013 guidance is for revenues to be flat-to-down 5%, with EBIT of 13-14% of sales (was 13.8% in Q4). Shares +1.4% premarket. (PR)
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  • Feb. 6, 2013, 7:32 AM
    Cummins (CMI): Q4 EPS of $2.02. Revenue of $4.3B beats by $0.26B. (PR)
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  • Feb. 6, 2013, 12:05 AM
    Notable earnings before Wednesday’s open: ABMD, AINV, CMI, CMP, CVH, CVS, ELN, GAS, ICE, IVR, MPEL, MRO, MT, NUS, PLD, RL, TWX, USG, VICL, VMED
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  • Feb. 5, 2013, 5:30 PM
    Notable earnings before Wednesday’s open: ABMD, AINV, CMI, CMP, CVH, CVS, ELN, GAS, ICE, IVR, MPEL, MRO, MT, NUS, PLD, RL, TWX, USG, VICL, VMED
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  • Feb. 5, 2013, 10:28 AM
    The Cummins (CMI +0.5%) and Westport (WPRT +1.6%) JV says LA Metro, which has one of the largest natural gas transit fleets in North America, will order 550 New Flyer Xcelsior natural gas buses, powered with the Cummins Westport ISL G 8.9-liter engine to be deployed in 2014 and 2015, with an option to purchase an additional 350 buses in 2016.
    | 4 Comments
  • Jan. 3, 2013, 4:37 PM
    Wells Fargo says that ACT Research preliminary December Class 5-8 truck net orders increased 4% from November and decreased 20% on a Y/Y basis. Truck orders were 21,300 units, -30% Y/Y, but +6% from November's 20,126. Wells says that overall, the report was better than expected and may be a positive for Cummins (CMI), Navistar (NAV) and PACCAR (PCAR).
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  • Jan. 3, 2013, 11:43 AM
    Maybe less entertaining than Byron Wien, but almost surely more actionable is this list of predictions for 2013 from Ploutos. Among the ideas is outperformance by DELL and HPQ thanks to activist investors taking major stakes. A big purchase by Berkshire Hathaway (BRK.B) is being talked about, and Ploutos guesses it will be Cummins (CMI). Will JNJ give up its AAA rating to lever up and return cash to shareholders?
    | 5 Comments
  • Dec. 28, 2012, 2:35 PM
    Baird calls Cummins (CMI -0.6%) a Top Idea for 2013, saying commercial truck and engine makers will start out the year in low gear, but should outperform the market in the second half. CMI in particular has exposure to off-highway, power generation and emerging markets, which should equate to significant growth. It raises its price target to $132 from $119 and recommends adding to positions.
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  • Dec. 11, 2012, 5:16 PM
    Cummins (CMI) authorizes an additional repurchase of up to $1B in common stock. The program was approved as the company approaches completion of its current $1B share repurchase program approved by the Board in February 2011. The buyback is part of a larger program by CMI to return value to shareholders, and follows a 25% increase in the dividend announced back in July. Shares +1.4% AH.
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  • Nov. 8, 2012, 1:49 PM
    After initially opening higher, Cummins (CMI -1.5%) slides back in the face of an upgrade to Outperform at BMO Capital this morning. The firm cites the company's stabilizing global growth profile and pent-up demand in developed countries that should boost near-term sales. The company also ups its price target by 50%, to $120 from $79.
    | 1 Comment
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Company Description
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines, electric power generation systems and engine-related component products.