"For the sector broadly we downgraded industrials back in February and remain on the sidelines.
"The industry overall is going to have a rough time in the short term for those construction companies that have exposure to the energy market and the basic materials market — those capital expenditure budgets have been cut drastically by those companies," Petrides said during the same segment. However, he does see hope over the longer period, especially for the larger companies in the industry.
"The larger players will use their size and scale to pick up market share, and there will be a rebound," Petrides said. "And every day that the economy is shut down it means that infrastructure gets older and they're going to have to rebuild infrastructure in the future, so we do think there will be pent-up demand."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
TradingNation Upside? For Cat? In 2020? Yeah right.
TradingNation
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysts downgrade several stocks, including Amazon and Caterpillar, as Wall Street's dismal earnings season continuesNew for subscribers: Analysts downgrade several stocks, including Amazon and Caterpillar, as Wall Street's dismal earnings season continues Check out CNBCPro for a free trial. Pro How can Amazon be downgraded when their business is booming right now? Pro mr_jettlife Pro But we have the Fed. Nothing else matters
Source: CNBC - 🏆 12. / 72 Read more »
Investors have $5.1 trillion hiding out in the shares of five companies, which will be tested this week'Investors need to dig below the surface of the stock market,' TheAroraReport writes. 'When they do so, they will find that the big money is in the $5.1 trillion hideout of large-cap tech stocks, which will be tested this week.' TheAroraReport Most of them in CDO style mutual funds and ETFs :/
Source: MarketWatch - 🏆 3. / 97 Read more »
Kuehne & Nagel quarterly core earnings fall on coronavirus crisisSwiss freight-forwarding group Kuehne und Nagel International on Monday reported a 24% fall in first-quarter core earnings, as industrial production and trade volumes declined due to the novel coronavirus pandemic.
Source: Reuters - 🏆 2. / 97 Read more »
European stocks jump at the open; Deutsche Bank surges on earnings newsEuropean stocks rose on Monday, as investors positioned for more central bank action and announcements of economies reopening. The Stoxx Europe 600 undefined... I got my fingers on .IT
Source: MarketWatch - 🏆 3. / 97 Read more »
These Stocks Will Thrive In A Post-Coronavirus World, According To ExpertsHere are 19 stocks that will benefit from new consumer trends once quarantine orders are lifted. MannyLoo
Source: Forbes - 🏆 394. / 53 Read more »