Cummins Inc. Stock Outperforms Market On Strong Trading Day

Prospect Capital Corp

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Financials : Capital Markets | Small Cap Blend

Company profile

Prospect Capital Corporation is a financial services company that primarily lends to and invests in middle-market privately held companies. The Company's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated secured debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. It makes directly originated agented loans to companies, including companies which are controlled by private equity sponsors and companies that are not controlled by private equity sponsors. It also invests in senior and secured loans, syndicated loans and high yield bonds that have been sold to a club or syndicate of buyers, both in the primary and secondary markets. The Company is managed by its investment adviser, Prospect Capital Management L.P.

Cummins Inc. Stock Outperforms Market On Strong Trading Day

4:45 pm ET January 6, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Cummins Inc. (CMI) advanced 1.43% to $230.19 Thursday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 0.10% to 4,696.05 and Dow Jones Industrial Average falling 0.47% to 36,236.47. Cummins Inc. closed $46.90 below its 52-week high ($277.09), which the company reached on March 16th.

The stock outperformed some of its competitors Thursday, as Caterpillar Inc. (CAT) rose 1.02% to $221.99, General Electric Co. (GE) rose 0.58% to $99.95, and Paccar Inc. (PCAR) rose 1.00% to $94.01. Trading volume (959,940) remained 17,339 below its 50-day average volume of 977,279.

Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 6, 2022.

-MarketWatch Automation

(END) Dow Jones Newswires

January 06, 2022 16:45 ET (21:45 GMT)