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Traders Selling Shares Of Cummins Ahead Of Tomorrow's Q1 Earnings Report

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Shares of Cummins (NYSE: CMI) are leading the Industrial group lower Monday afternoon as traders appear to be positioning themselves ahead of the company's first-quarter earnings, expected out on Tuesday prior to the opening bell.

Analysts on Cummins are currently looking for quarterly earnings of $1.68 per share on sales of $4.18 billion.

The company normally issues quarterly figures around 7:30AM EDT.

The stock last traded at $143.33, down more than 2.5 percent from the close on Friday.

Elsewhere in the sector, Cat (NYSE: CAT) shares are down about 1 percent, shares of BorgWarner (NYSE: BWA) are down about 2 percent and shares of Tenneco (NYSE: TEN) are down more than 2.5 percent.

Tenneco earlier posted better-than-expected first-quarter figures. The beat should not be weighing on the stock, nor the sector.

Posted-In: Earnings News Movers

 

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