Gentlemen, Start Your Bulldozers

• By the tickerspy.com Staff
• On 12:21 pm EDT, Friday October 23, 2009

Heavy equipment stocks powered ahead this week, despite a mild sell-off on Friday.

Mining equipment company Bucyrus International (NASDAQ: BUCY - News) is bucking the market by double-digits today after topping expectations in the third quarter. The company earned $92 million or $1.21 a share, up from $64 million or 85 cents a share in Q3 2008. Analysts were expecting 82 cents in EPS, and investors are cheering the results.

As a whole, the Farming, Mining, and Construction Machine Stocks Index is adding 1% to its 3.2% weekly rally in today's session.

Amherst, NY-based Columbus Mckinnon (NASDAQ: CMCO - News) is ahead by 8% after reporting a -26% decline in fiscal second-quarter revenue before the bell. The company still managed to bring in 12 cents in EPS, topping analysts' 8-cent expectations.

CNH Global (NYSE: CNH - News) is a top performer since reporting a loss in the third quarter earlier this week. After adjustments, the company lost -9 cents a share during the period, topping estimates by a penny. According to MarketWatch, CNH's operating profit was $72 million for the quarter, and the company noted plans to slash its workforce by -11% to -12% by the end of the year.

Terex (NYSE: TEX - News) was also in the red in Q3, losing -$103.1 million or -95 cents a share. Chairman and CEO Ron DeFeo said, "This was a disappointing quarter but we feel that we are turning the corner to better performance." After gapping lower following the after-hours report, Terex rallied throughout the day Thursday, and is back to its pre-report pricing to end the week.

Joy Global (NASDAQ: JOYG - News), which specializes in equipment used in the mining and extraction of coal and other minerals, has established a steady upward trend in October, after spending the latter half of last month in a volatile consolidation pattern.

Caterpillar (NYSE: CAT - News) and Deere & Co. (NYSE: DE - News), the sector's largest components, are having a strong week with respective gains of 7% and 10%.

As of this writing, the Farming, Mining, and Construction Machine Stocks Index is one of the top-10 performing tickerspy Indexes over the last week, up by 3.2%.

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Buzz up!