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
TheStreet Open House

Stocks in Motion: Cummins

Updated from 11:20 a.m.

Shares of Cummins (CMI) 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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs