According to ACT Research, Class 8 net orders in February were 14,100 units, down 16% year-over-year and 18% month-over-month, JPMorgan analyst Ann Duignan tells investors in a research note. The analyst points out that truck orders have the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), Wabco (WBC) and Allison Transmission (ALSN). Further, ACT Research noted the Class 8 backlog is likely to fall 6,600 units to 112,400 units at the end of February, adds the analyst. She notes that truck and truck components group outperformed the broader market in 2019 but has underperformed so far in 2020. Leading indicators are weak with the ISM New Orders Index down 2.2 points month-over-month to 49.8 in February, down 9.3% year-over-year, says Duignan.