Construction & Farm Machinery Today’s Weakest LinkOctober 29, 2013
Cummins is leading the construction and farm machinery stocks down this morning after reporting revenues roughly $100 million under estimates. In addition, the company lowered revenue estimates for fiscal year 2013, citing, “Revenues were below our expectations as we continue to face an environment of weak demand for capital goods in most of our major markets. Our focus on lowering costs in all parts of our business positions us well to deliver strong earnings growth as market conditions improve.”
We find many unattractive looking stocks in this group, most either locked in persistent downtrends or beginning to break down after prolonged tops. The worst looking charts are below.