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Stock impact report

Cummins craters after pulling guidance; analysts warn on demand [Seeking Alpha]

Cummins Inc. (CMI) 
Last cummins inc. earnings: 4/28 07:30 am Check Earnings Report
Company Research Source: Seeking Alpha
On the Move Cummins craters after pulling guidance; analysts warn on demand Mar. 23, 2020 3:56 PM ET | Cummins Inc. (CMI) Carl Surran Cummins ( -11% on Friday Citi analyst Timothy Thein says Cummins' operations are being hurt by a temporary shutdown of pickup truck production, and more significantly to the company, its heavy duty customers are slowing build rates further. Baird's David Leiker notes some commercial vehicle manufacturers have announced plant downtime in North America, including Volvo/Mack and Navistar, but he thinks "the lack of coordinated shutdowns between truck makers is likely to make the operating environment more challenging for Cummins." Bloomberg analyst Christopher Ciolino says the the bigger concern is a collapse in end-market demand, noting further shutdowns may follow with customers cutting production and with potential supplier shortages and government mandates. See all stocks on the move » Now read: Dover To Acquire Em-tec For Medical Flow Measuremen Show less Read more
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