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Cummins Inc. (CMI)

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  • 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?
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  • 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.
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  • Oct. 31, 2012, 8:49 AM
    More on Cummins' (CMI) Q3 results: Engine revenues -14%, components -8%, power generation -7%. Says demand has dropped sharply over the last three months; in response, it is delaying or canceling projects, flexing production at some plants, reducing discretionary expenses, and reducing workforce by 1,000-1,500 by year-end. CMI -1.2% premarket.
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  • Oct. 31, 2012, 7:31 AM
    Cummins (CMI): Q3 EPS of $1.86 misses by $0.04. Revenue of $4.1B (-11% Y/Y) misses by $50M. (PR)
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  • Oct. 31, 2012, 12:05 AM
    Notable earnings before Wednesday’s open: AGCO, AMT, BWA, CAM, CKSW, CLX, CMI, CNH, COCO, ETN, GM, GRMN, IPGP, IRM, MA, MGM, MSCI, MT, NUS, NVO, PSX, PWR, RDC, SO, STX, UMC, VG, WEC, WM
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  • Oct. 30, 2012, 5:30 PM
    Notable earnings before Wednesday’s open: AGCO, AMT, BWA, CAM, CKSW, CLX, CMI, CNH, COCO, ETN, GM, GRMN, IPGP, IRM, MA, MGM, MSCI, MT, NUS, NVO, PSX, PWR, RDC, SO, STX, UMC, VG, WEC, WM
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  • Oct. 30, 2012, 12:05 AM
    Notable earnings scheduled for Tuesday morning: ADM, AGCO, AGN, ALLT, AMTD, ASH, BP, CAH, CBB, CIE, CMI, DB, DLPH, ECL, FGOV, HCP, HE, IPGP, IPXL, JCI, LLL, MCGC, MPW, NUS, PCS, PNR, SWC, TLM, TRI, TRP, TRW, UBS, VLO, VSH, WM, X, YNDX
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  • Oct. 29, 2012, 5:30 PM
    Notable earnings before Tuesday’s open: ADM, AGCO, AGN, ALLT, AMTD, ASH, BP, CAH, CBB, CIE, CMI, DB, DLPH, ECL, F, GNV, GOV, HCP, HE, IPGP, IPXL, JCI, LLL, MCGC, MPW, NUS, PCS, PNR, SWC, TLM, TRI, TRP, TRW, UBS, VLO, VSH, WM, X, YNDX
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  • Oct. 16, 2012, 10:41 AM
    Cummins (CMI) declares $0.50/share quarterly dividend, in line with previous. Forward yield 2.22%. For shareholders of record Nov 23. Payable Dec 03. Ex-div date Nov 21. (PR)
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  • Oct. 11, 2012, 10:30 AM
    Cummins' (CMI -0.7%) stock stalled yesterday after an earnings warning, but Barron's expects it to rev up again. H2 revenue could fall 15% Y/Y, but the shares look like a good deal: Based on the lowest earnings estimate among more than 20 analysts who cover the stock, shares trade at 9x 2012 earnings and 10x 2013 earnings.
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  • Oct. 10, 2012, 8:19 AM
    Cummins (CMI) -3.7% premarket following its sales warning last night. Deja vu all over again, this warning is nearly identical to the one given 3 months ago to the day. Shares cratered then, but were quickly back on the rise and soared the day (July 31) of the earnings release. Will history continue to repeat (earnings set for Oct. 30)?
    | 9 Comments
  • Oct. 9, 2012, 5:52 PM
    Shares of several heavy equipment makers are sliding on weak guidance from Cummins (CMI -4.8% AH): CAT -1.8%, DE -0.9%, ETN -1.9%, ITW -0.2%, NAV -3.1%, PCAR -3.2% AH.
    | 3 Comments
  • Oct. 9, 2012, 5:27 PM
    Cummins (CMI) -6.2% AH after issuing downside guidance for Q3 and FY12, citing weak demand. For Q3, CMI expects revenues of $4.1B vs. $4.42B analyst consensus. FY12 revenue outlook is cut to ~$17B vs. prior guidance of $18B and $18.13B consensus. EBIT is seen at ~13.5% for the year vs. prior guidance of 14.25%-14.75%.
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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.