Stock in Cummins Inc. shot up as much as 24.7 percent this morning following a positive first-quarter earnings report.
At noon, the shares had settled retreated from a peak of $107 to near $100—still a huge run-up compared to yesterday’s closing price of $85.99..
Sales of engines for heavy trucks declined due to trucking firms’ stocking up before new emission regulations went into affect.
Cummins shares have been on a tear since CNBC “Mad Money” host Jim Cramer began touting the stock this month and Italy-based Fiat this week announced it would like to enter the
In pre-trading activity this morning, the shares were up nearly 6 percent, to $91.10. As recently as April 19, the stock traded at $73.80.