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To: Bocor who wrote (9903)7/10/2012 3:08:43 PM
From: Brian Sullivan  Read Replies (1) | Respond to of 13719
 
Cummings cuts next years revenue growth to 0% from +10%

  • 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.
    1 Comment
    [ U.S. Economy]
  • 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)
    Comment!
    [ Dividends]
  • 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)
    Comment!