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Opening Glance: Machinery shares fall as oil prices rise



By AP
09 May 2008 @ 10:54 am ET

NEW YORK - Shares of machinery companies fell in early trading Friday, as oil prices rose above $126 a barrel for the first time before giving back some of its advance.

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Quotes
MTW 11.28 -0.35
TEX 21.92 1.09
CMI 46.52 -1.89
CAT 57.99 1.77
DE 47.29 1.87

How some machinery stocks were doing in early trading:

Manitowoc Co., up 11 cents at $40.41.

Terex Corp., down $1.36 to $70.82.

Cummins Inc., down $1.22 at $66.90.

Caterpillar Inc., down 58 cents to $81.84.

Deere & Co., down $2.11, or 2.4 percent, to $84.71.

Copyright 2009 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

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