* New Jersey - CNBC's Jim Cramer said: A recent downgrade in Cummins Inc.'s stock could signal a recession in trucks
-- Cummins' stock was downgraded to "underperform" by Bank of America Merrill Lynch on Tuesday, citing lackluster earnings moving forward and a slowdown in the Chinese economy, CNBC reported... Shares of the engine maker have declined about 35 percent this year and were down more than 7 percent near midday Tuesday... To be sure, others have voiced concerns about an economic slowdown in trucking... U.S. shipments as measured by the latest Cass Freight Index dropped 5.3 percent last month from a year ago, making it the worst October since 2011, Bloomberg reported... The year-over-year decline was the eighth straight and the biggest since November 2009. Trucks transport almost 70 percent of the nation's freight by weight, according to American Trucking Associations...
(Image from Dollar Photo Club: CNBC's Cramer: Cummins' Downgrade May Reflect Trucking Recession) -- Englewood Cliffs, N.J., USA - NewsMax, by F McGuire - 1 Dec 2015Labels: recession, trucking industry news USA
![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
0 Comments:
Post a Comment
<< Home