UPDATE 3-Cummins beats, raises but remains cautious on 2010


* Q3 net EPS of 48 cents * Q3 EPS ex-items of 56 cents * Analysts looking for EPS of 37 cents * US, European weakness offsets emerging market rebound * Caution on 2010 sends shares lower (Adds analyst comment, share reaction, byline) By James B. Kelleher 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. The maker of engines and ...

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