Cummins designs, manufactures, and distributes diesel and natural gas engines and power distribution systems. The shares are a component of the S&P 500. The company has 61,600 employees.

There's not a lot of room to opine about market forces on Monday morning, as global shares are simply tanking. Fear spiked last week as economic reports in the U.S. pushed the idea that the Fed was taking too much time to cut interest rates from a 'concern' to a 'full-blown panic.' Investors worldwide now sense that a recession in the U.S. is fully on the table. The good news is that the Federal Reserve, after ratcheting up interest rates, now has replenished its tool box and can offer some assistance via lower rates. Mag7 stocks on Monday are all lower, and most gig caps are flat to down 1%.

Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway machinery, and railroad locomotives, in addition to standby and prime power generators. The company also sells powertrain components, which include transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers, who make and aggressively market their own engines. Despite robust competition across all its segments and increasing government regulation of carbon emissions, Cummins has maintained its leadership position in the industry.

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