- TUESDAY, OCTOBER 25, 2011 ET
Cummins Tumbles After Cutting Outlook
By AVI SALZMAN
Engine-maker Cummins (CMI) cut its full year sales and earnings outlook on Tuesday, citing macroeconomic uncertainty and the possibility of slower global growth. Specifically, Cummins said that the recent measures taken by the governments in India and China to curb inflation appear to have “resulted in softer near-term demand than we previously expected.” Shares fell 5%.