Cummins (CMI) Up On News Caterpillar Will Exit On-Highway Engine Biz
Get Alerts CMI Hot Sheet
Price: $287.56 -1.32%
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Shares of Cummins Inc. (NYSE: CMI) are 11% higher today following news that Caterpillar Inc. (NYSE: CAT) partnered up with Navistar (OTC: NAVZ) for their on-highway truck business and said it will not supply EPA 2010 compliant engines to truck and other on-highway original equipment manufacturers.
Analysts expects this news will allow Cummins to take a larget percentage of the market.
An analyst at Wachovia said, "Based on CAT's decision to exit the North American on-highway truck engine business (for non-severe service) in 2010, we believe that CMI will generally increase share at NAVZ, PCAR, and potentially Daimler North American truck applications. This announcement is positive for CMI."
Analysts expects this news will allow Cummins to take a larget percentage of the market.
An analyst at Wachovia said, "Based on CAT's decision to exit the North American on-highway truck engine business (for non-severe service) in 2010, we believe that CMI will generally increase share at NAVZ, PCAR, and potentially Daimler North American truck applications. This announcement is positive for CMI."
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