Machinery shares lack direction

Machinery stocks lack direction in morning trading along with broader market

NEW YORK (AP) -- Shares of machinery companies lacked direction morning trading Monday despite a better-than-expected reading on the service sector.
The Institute for Supply Management said its April index of nonmanufacturing activity rose to 52 from 49.6 in March. A reading above 50 signals economic expansion and analysts had expected the figure would come in at 49.3.

Here's how some machinery stocks were doing in early trading:

Manitowoc Co., up 3 cents to $39.60.

Terex Corp., up 44 cents to $72.72.

Cummins Inc., up 20 cents to $67.33.

Caterpillar Inc., down 29 cents to $82.51.

Deere & Co., down $1.12 to $84.12.