Industrial Stocks Rebound as Eaton Beats Lowered Expectations (ETN) (GE) (CAT) (XLI)
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Price: $308.94 -0.4%
Overall Analyst Rating:
BUY (
Down)
Dividend Yield: 1.3%
Revenue Growth %: +7.7%
Overall Analyst Rating:
BUY (
Down)Dividend Yield: 1.3%
Revenue Growth %: +7.7%
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After a difficult start to trading on Monday, industrial stocks rebounded in the second half of the day. The move was fueled by a rally in shares of Eaton (NYSE: ETN). Eaton Corp. reported Q2 EPS of $1.15, $0.06 better than the analyst estimate of $1.09. Revenue for the quarter came in at $4.1 billion versus the consensus estimate of $4.24 billion. Shares of Eaton moved higher following the release.
On Monday analysts at Barclays maintained an 'Overweight' on General Electric (NYSE: GE). Analyst Scott R. Davis said, "Core growth in Industrial of 10% was above expectations of 9% and will likely be at high end of comps."
Focus now turns to Caterpillar (NYSE: CAT). Today the company reported metrics for June 2012, which showed a pick up in sales in Asia and North America, while Europe, Africa, and the Middle East were flat, and Latin America was lower. The company reports earnings on Wednesday.
Year-to-date, industrial Select Sector SPDR (NYSE: XLI) is higher by 1.42 percent. This compares to SPDR S&P 500 (NYSE: SPY), which is higher by nearly 6 percent. XLI is lower by 0.4 percent in early trading on Tuesday.
On Monday analysts at Barclays maintained an 'Overweight' on General Electric (NYSE: GE). Analyst Scott R. Davis said, "Core growth in Industrial of 10% was above expectations of 9% and will likely be at high end of comps."
Focus now turns to Caterpillar (NYSE: CAT). Today the company reported metrics for June 2012, which showed a pick up in sales in Asia and North America, while Europe, Africa, and the Middle East were flat, and Latin America was lower. The company reports earnings on Wednesday.
Year-to-date, industrial Select Sector SPDR (NYSE: XLI) is higher by 1.42 percent. This compares to SPDR S&P 500 (NYSE: SPY), which is higher by nearly 6 percent. XLI is lower by 0.4 percent in early trading on Tuesday.
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