This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks in Motion: Cummins

Updated from 11:20 a.m.

Shares of Cummins (CMI - Get Report) were among the NYSE's losers Wednesday, falling 8% after the engine maker blew away fourth-quarter estimates but warned that 2005 earnings would fall short of Wall Street forecasts.

The company earned $119 million, or $2.41 a share, on sales of $2.35 billion during the fourth quarter. Analysts polled by Thomson First Call were expecting earnings of $2.08 a share on sales of $2.28 billion. A year ago the company earned $43 million, or $1 a share, on sales of $1.74 billion. Looking ahead, Cummins said that it expects 2005 earnings of $8 to $8.30 a share. Analysts, however, had been expecting earnings of $8.55 a share. Shares traded down $6.29 to $72.75.

Tower Automotive (TWR), which supplies auto parts, filed for bankruptcy protection early Wednesday, citing lower production volume on key auto platforms and increased steel prices. It also cited the termination of early pay programs at certain auto makers and a "complex and restrictive capital structure." Tower said that it has arranged for up to $725 million in debtor-in-possession financing, which it will use to fund normal business operations. The company's international operations are not included in the bankruptcy filing. The NYSE suspended shares on Wednesday and moved to delist the stock. Tower last traded at 77 cents on Tuesday.

Shares of Linens 'n Things (LIN) rose 9.3% after the company posted fourth-quarter earnings above expectations. Excluding items, the company earned $1.03 a share on sales of $875.7 million. Analysts were expecting earnings of 97 cents a share on sales of $850.7 million. Looking ahead, the company said it would post first-quarter earnings of 6 cents to 9 cents a share on sales growth of 6% to 9%. Analysts had been expecting earnings of 9 cents a share on sales of $595.3 million, or sales growth of 7.7%. Shares traded up $2.40 to $28.10.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
LIN $25.00 0.00%
CMI $112.17 0.00%
AAPL $111.31 0.00%
FB $92.80 0.00%
GOOG $645.44 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs