UPDATE 2-Cummins net tumbles, sees weakness into 2010


* Q3 net EPS of 48 cents * Q3 EPS ex-items of 56 cents * Analysts looking for EPS of 37 cents * Weakness in Europe, US offsets emerging market rebound (Adds CEO quote, details on charge, outlook) CHICAGO, Oct 30 (Reuters) - Cummins Inc reported stronger-than-expected quarterly earnings on Friday, citing improving demand in China, India and Brazil and the effectiveness of cost-cutting at home. But the company warned the sharp drop in demand it has seen for its engines and other ...

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