Machinery Industry on the Upswing as Orders for Capital Goods Show Back-to-Back Monthly Increases
07 Gennaio 2013 - 2:20PM
Marketwired
The Machinery Industry surged last Friday as an analyst praised
some benefits from the recent "fiscal cliff" deal and as a report
from the Commerce Department showed back -to-back increases for
capital goods. Orders for core capital goods gained 2.6 percent in
November, following a 3 percent increase in October, which was its
largest gain in nearly a year. The Paragon Report examines
investing opportunities in the Machinery Industry and provides
equity research on Manitowoc Company, Inc. (NYSE: MTW) and Terex
Corporation (NYSE: TEX).
Access to the full company reports can be found at:
www.ParagonReport.com/MTW www.ParagonReport.com/TEX
Jeffries' analyst Stephen Volkmann in a recent note to clients
wrote that under the new "fiscal cliff" legislation companies in
2013 are now allowed to write off as much as $500,000 in new asset
purchases. The large amount comes as a surprise to many as the
limit was expected to be reduced by $25,000 with the expiry of the
Bush era tax cuts.
"Equipment purchasers will continue to be able to use the
purchase of equipment as an offset to their overall tax burden. The
result will be a continuation of the elevated prices for
agriculture and construction used equipment," Volkmann wrote.
Paragon Report releases regular market updates on the Machinery
Industry so investors can stay ahead of the crowd and make the best
investment decisions to maximize their returns. Take a few minutes
to register with us free at www.ParagonReport.com and get exclusive
access to our numerous stock reports and industry newsletters.
The Manitowoc Company is a multi-industry, capital goods
manufacturer with over 115 manufacturing, distribution, and service
facilities in 25 countries. In 2011, Manitowoc's revenues totaled
$3.7 billion, with more than half of these revenues generated
outside of the United States. Shares of the company have spiked 8
percent in the past week.
Terex manufactures a broad range of equipment for use in various
industries, including the construction, infrastructure, quarrying,
manufacturing, mining, shipping, transportation, refining, energy
and utility industries. Net sales were $1,822.0 million in the
third quarter of 2012, an increase of 1.0% from $1,803.6 million in
the third quarter of 2011.
The Paragon Report has not been compensated by any of the
above-mentioned publicly traded companies. Paragon Report is
compensated by other third party organizations for advertising
services. We act as an independent research portal and are aware
that all investment entails inherent risks. Please view the full
disclaimer at: http://www.paragonreport.com/disclaimer
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