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Cummins Inc. (CMI)

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  • Aug. 2, 2012, 10:33 AM
    Cummins (CMI +4.2%) shares rise on news of an expanded relationship with Navistar (NAV -6.5%), agreeing to supply its aftertreatment system to NAV's ICT+ clean engine solution. NAV will offer CMI's ISX15 engine in certain models, expanding its vehicle lineup and on-highway market opportunity.
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  • Jul. 31, 2012, 3:36 PM
    Investors 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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  • Jul. 31, 2012, 10:37 AM
    Cummins (CMI +7%) conference call: The exact opposite of Caterpillar's "hope," the company expects no improvement in Chinese demand in H2 as government stimulus efforts to this point have been light (h/t firstadopter). Cummins earns just 6% of its revenues from China, but sales there more than doubled (presentation) from 2009-2011, and are now expected to fall about 10% this year. (earnings)
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  • Jul. 31, 2012, 7:53 AM
    More on Cummins (CMI): This is the first news from the company since its slashing of guidance on July 10 caused a brief quake in the market. Engine segment sales -2% Y/Y, with improved North American construction demand offsetting lower sales to China, Brazil, and N.A. energy markets. Shares +2.8% premarket. The conference call at 10 ET should be a good one. (PR)
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  • Jul. 31, 2012, 7:33 AM
    Cummins (CMI): Q2 EPS of $2.47 beats by $0.20. Revenue of $4.45B (-4% Y/Y). Shares +1.8% premarket. (PR)
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  • Jul. 31, 2012, 12:05 AM
    Notable earnings before Tuesday’s open: ADM, AET, BP, CIE, CMI, COH, DB, DISCA, DLPH, ECL, ETR, FWLT, GT, HCP, LPX, LQDT, MPC, NI, PEG, PFE, TIE, TRI, TRW, TYC, UBS, VLO, VSH, X, YNDX
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  • Jul. 30, 2012, 5:30 PM
    Notable earnings before Tuesday’s open: ADM, AET, BP, CIE, CMI, COH, DB, DISCA, DLPH, ECL, ETR, FWLT, GT, HCP, LPX, LQDT, MPC, NI, PEG, PFE, TIE, TRI, TRW, TYC, UBS, VLO, VSH, X, YNDX
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  • Jul. 10, 2012, 2:42 PM
    Caterpillar (CAT -4.6%) leads the DJIA lower (-0.8%) after Cummins slashes its 2012 outlook. Joy Global (JOY -6%) tumbles as well. The XLI -1.8%. More from Cummins (CMI): "Order trends in the U.S. for trucks and power generation equipment have softened and demand in Brazil, China, and India is not improving." Ouch.
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  • Jul. 10, 2012, 2:02 PM
    Cummins (CMI): Declares $0.50/share quarterly dividend, 25% increase from prior dividend of $0.40. Dividend yield 2.1%. For shareholders of record Aug 22; payable Sep 01; ex-div date Aug 20. (PR)
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  • Jul. 10, 2012, 1:49 PM
    Cummins (CMI) -4.4% after it cutting its full-year revenue outlook for 2012 to be in line with 2011's $18.05B vs. previous guidance for an increase of 10%. Analyst expect $19.84B. The firm also forecasts Q2 revenues of $4.45B vs. $4.64B last year and consensus of $5.07B. More positively, Cummins raises its quarterly dividend to $0.50 a share from $0.40. (PR)
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  • Jul. 6, 2012, 7:03 AM
    Shares of Navistar (NAV) could be in for a wild ride today with an operational update from the company planned for 9:00 AM EST. Analysts don't have a firm handle on what the company is planning to announce, but tip off that deals with either Cummins (CMI) or Oshkosk (OSK) could be in the mix. (webcast)
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  • Jun. 29, 2012, 12:25 PM
    More drama with Navistar (NAV): After OTR Global kicked up enthusiasm by saying that the company may offer Cummins (CMI +4.1%) engines, a Navistar spokeswoman seemed to deflate the idea a bit by calling it "speculation" as she declined further comment. Shares are still up 11.5%, with M&A chatter remaining a major backdrop.
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  • Jun. 19, 2012, 3:26 PM
    Cummins (CMI +2.8%) holds on to gains despite cautious comments out of Credit Suisse earlier today. The firm says the stock will likely be choppy given macro concerns, but it expects the company to outgrow its core markets longer term. The company reiterates its Outperform rating, but lowers its price target to $136 from $146.
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  • Jun. 12, 2012, 12:41 PM
    The selloff in Navistar (NAV -11.5%) gathers steam after a federal appeals court vacates an EPA rule that would have allowed the company to sell heavy-duty diesel truck engines that fail to meet the latest pollution standards for engine exhaust. The ruling was a big win for NAV's competitors, who initially filed the suit: Cummins (CMI +2.3%), Volvo AB (VOLVY.PK +1.2%) and Daimler AG (DDAIY.PK +0.2%).
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  • Jun. 7, 2012, 12:58 PM
    Cummins' (CMI +2.5%) power generation unit says its entire stationary diesel generator set range from 680-2750 kw will be ready to meet stringent EPA regulations for the North American market. CMI will begin shipment of Tier 4 interim certified generator sets beginning in Q3.
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  • Jun. 4, 2012, 10:51 AM
    Cummins (CMI -2.3%) takes a hit on a Wells Fargo downgrade to Market Perform, citing macroeconomic uncertainty and expectations for NAFTA truck industry production cuts. The firm lowers its price target range to $100 - $103 from $132 - $135.
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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.