DuPont de Nemours beat earnings estimates early Tuesday led by higher artificial intelligence and China demand. Other "old economy" stocks Emerson Electric and Louisiana Pacific scored earnings breakaway gaps. Cummins soared on earnings and Eaton rose as well.
New technologies continue to impact traditional industries, such as manufacturing. Emerson Electric on Tuesday offered to buy the rest of Aspen Technology to hone its bet on industrial automation. Bernstein analysts began coverage of Eaton stock, noting favorable exposure to data centers.
The major indexes rose solidly on Election Day.
'Old Economy' Stock DuPont Has AI Tailwind
On a per-share basis, DuPont, a manufacturer of specialty materials, chemicals and agricultural products, delivered a 28% earnings jump for the third quarter. That was the best gain since Q3 2021.
DuPont easily beat earnings estimates but slightly missed on revenue. Semiconductor technologies sales jumped 20% on demand recovery led by AI technology ramps and China, the company said. DuPont continues to work on a three-way split-up of the company.
Shares popped 4.5% in Tuesday's stock market trading. DuPont stock gapped up above the 50-day moving average and broke a trendline, offering an early entry. It's now 3% below a 90.06 buy point from a flat base, the MarketSurge chart shows.
On Tuesday, Louisiana-Pacific stock jumped 7.3%, gapping above the 50-day line and breaking a trendline. Shares hit 112.06 intraday, briefly topping a 109.73 buy point from a flat base, base-on-base pattern. Investors could treat the wood-products giant as actionable now.
Emerson Electric stock staged a 7.2% earnings gap-up on Tuesday. Shares topped a 112.77 cup-with-handle buy point.
Cummins stock rocketed 8.9% to a new all-time high. It is now extended from a 322.83 entry, meaning shares are no longer in range from that buy point. However, investors could use a buy off the 10-week line or a three-weeks-tight entry at 340.82 as places to buy or add shares.
Emerson Electric, Louisiana-Pacific, Cummins Earnings
On Tuesday, Louisiana-Pacific raised full-year guidance after smashing Q3 earnings views. The building materials provider said its siding business led the way with record earnings on 22% sales growth.
Cummins reaffirmed its full-year outlook after posting a 29% Q3 earnings jump. The maker of power train and industrial systems cited improvements in its power systems and distribution units.
Emerson Electric gave solid 2025 guidance after beating Q4 earnings and revenue views. The maker of pressure safety valves and regulators also proposed to buy the remainder of Aspen Technology for $240 per share in cash. Emerson seeks to sharpen its focus on industrial automation. Aspen, an industrial software technology provider, aligns with that strategy. Shares of Aspen stock rose 1.4% on Tuesday, paring gains.
Separately, Bernstein analysts initiated coverage of Eaton stock with an outperform buy rating and $382 price target. Data center buildouts and infrastructure projects are stoking power demand, they said.
Last week, Eaton raised full-year guidance after a 15% earnings gain for the third quarter. The power management company taps the electrical, vehicle and aerospace markets.
ETN rose on Tuesday, closing about 2% below a 345.19 buy point.
