— Cummins Inc. (NYSE: CMI) reported its fourth-quarter 2019 adjusted earnings of $2.56 per share versus $2.42 per share expected.
— Revenue fell by 9% to $5.6 billion versus $5.3 billion expected. This was hurt by lower truck production in North America and weaker demand in global construction, mining, and power generation markets.
— Sales in North America declined by 8% while international revenues decreased by 10% led by declines in Europe, Asia Pacific, Latin America, and India.
— Looking ahead into the full year 2020, the company expects revenues to be down 8-12% and EBITDA to be in the range of 14.2-15.2% of sales. The consensus estimates revenue to fall by 8.10% for the full year.
— In 2020, the company plans to return 75% of Operating Cash Flow to shareholders in the form of dividends and share repurchases.
For technology stocks, 2022 has been a challenging year, with companies losing significant market value amid prolonged stock selloff. In that respect, Salesforce, Inc. (NYSE: CRM) is among the worst-affected
Shares of Macy’s Inc. (NYSE: M) were down on Thursday. The stock has gained 36% over the past three months and 18% over the past one month. The company’s sales
Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to