资源描述：
《美国机械与建筑业投资策略分析.docx》由会员上传分享，免费在线阅读，更多相关内容在行业资料-天天文库。
1、WHAT’SCOOKIN’INMACHINERYANDENGINEERING&CONSTRUCTION‘TISTHESEASONCATALYSTWATCH11/5MTWQ3’18(Q3:$0.08;FY’18:$0.47)11/8WASDE11/5MDRAnalyst/InvestorMeeting11/8BWQ3’1811/7BrazilTruckData11/8-9(est.)GermanTractorData11/7BrazilTractorData11/9(est.)USTractorData11/7EIAPetroleumStatusReport11/9B
2、akerHughesRigCountWHAT’SHOTANDWHAT’SNOTWearepleasedtoannouncetheCreditSuisse6thAnnualIndustrialsConferencewilltakeplaceinPalmBeach,FloridaonNovember27-29,2018.Formoredetails,includingalistofparticipatingcompaniesandinformationonregistration,pleaseclickhere.Pleasenotethattoday(November2
3、nd)isthedeadlinetosubmitrequestsforone-on-onemeetings.Machinery:TheMachinerygroupoutperformedthisweekduringaheavyweekofearnings,inparticularthehigher-betaSMIDcapnames.Thetoneforearningswaslargelypositive,despitemacroconcerns.OSK'sstockclosedupover20%onThursdayafterbeatingearningsongood
4、marginsandproviding2019guidance,whichwasmuchbetterthanexpectations.Accessmarginswereverystrong,carryingincrementalsof22%,andthestrengthinbacklogrelativetolastyearimpliesOSK'sflattoplineguidecouldbeconservative.AGCO'sstocktradeduponlowexpectations.TheprintwasmixedwithEMEmarginsdisappoin
5、tingonsupplychain,FXandhigherexpenses,butSAmarginsimproved.Theorderbookwasmixed.Globally,AGCO’sorderbookwasflatattheendofthequarter(flatinNA,lowerinEurope,higherinSA).InEurope,theorderbookwasslightlydownwhilecompswerealsotoughandmgmt.didexpressconfidencethattheorderbookwillbestrongagai
6、nnextyear.CMIandALSNalsoreported,expressingoptimismNAHDandMDstrengthshouldcontinueinto2019andtheOEsaretakingproactivemeasurestoensuretheorderbookisnotinflatedviacancellationsfees,etc.Lastly,onthenegative,miningnewswasmixedwithsomesuppliersandOEssuggestingordersandsalesmoderated,althoug
7、hviewedasshorttermandexpectedtoimprove.ToppicksCATandDE.Engineering&Construction:MDRtookitonthechin,down35%thisweekafterannouncinganother$744MincostincreasesonthethreelegacyproblemprojectsacquiredintheCBIacquisition,inparticularCameronLNG,FreeportLNGandCalpine.Alsosurprisinginvestors
