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KMT - Machinery names lag as Wells warns of demand drop
Kennametal Inc.
Wells Fargo lowers estimates for several machinery companies including Caterpillar (CAT+1%), Deere (DE-3.9%), Eaton (ETN-0.5%) and AGCO (AGCO-6.2%), citing "previously incomprehensible" deterioration in demand across aerospace, construction and farm equipment, oil and gas, and other markets.
More news on: Caterpillar Inc., Deere & Company, Eaton Corporation plc,