From the Wires
Machinery Industry on the Upswing as Orders for Capital Goods Show Back-to-Back Monthly Increases
The Paragon Report Provides Stock Research on Manitowoc and Terex
By: Marketwired .
Jan. 7, 2013 08:20 AM
NEW YORK, NY -- (Marketwire) -- 01/07/13 -- 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).
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:
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