NEW YORK (AP) — Shares of truck makers rose Tuesday on news that commercial truck orders increased in February.

Sterne Agee analyst Jeffrey Kauffman said that while orders remain slightly below his expectations, he expects some improvement in the coming months given that last year's results were hampered by worries about the fiscal cliff and a lower-than-expected spring selling season.

According to ACT Research, which tracks commercial truck sales, overall truck orders rose 4.2 percent from year-ago levels to 23,300 in February, Kauffman said.

For the order season so far, orders for heavy-duty trucks remained down 13 percent from a year ago, but improved from January levels. Sales of medium-duty trucks increased 13 percent in February, helped by the improving housing market, Kaufman said of the ACT data.

The analyst said the continued increase in medium-duty truck sales bodes especially well for Navistar International Corp., which holds the biggest piece of that market.

Truck companies traded higher amid a broad market rally.

— Navistar, up $1.35, or 5.7 percent, to $24.96.

— Oshkosh Corp., up $2.10, or 5.6 percent, to $39.57.

— Paccar Inc., up $1.56, or 3.3 percent, to $48.40.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel