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Fly News Breaks for December 1, 2015
CMI
Dec 1, 2015 | 06:32 EDT
BofA/Merrill downgraded Cummings two notches to Underperform from Buy. The firm said the U.S. truck market is weakening faster than expected and still sees 12-20% downside to 2016-2017 consensus estimates. Additionally, BofA/Merrill expects another devalue of the China RMB, which would be more bad news for global commodities.
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