Terex Corporation

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  • Tue, Feb. 2, 8:42 AM
    • Chances that China's Zoomlion will succeed in gatecrashing Terex's (NYSE:TEX) pending merger with Konecranes is quite high, CTFN reports.
    • Although Terex has pointed out that its board hasn't changed its recommendation of the proposed combination with Konecranes, the company said it's also carefully reviewing the Zoomlion proposal "to determine the course of action that it believes is in the best interest to Terex shareholders."
    • TEX -1.1% premarket
    • Previously: Terex-Zoomlion talks continue despite U.S. concerns (Jan. 29 2016)
    • Previously: Terex confirms buyout bid from China’s Zoomlion (Jan. 26 2016)
    | Tue, Feb. 2, 8:42 AM | 2 Comments
  • Fri, Jan. 29, 9:07 AM
    • Terex's (NYSE:TEX) sale discussions with China's Zoomlion are continuing despite concerns the $3.3B unsolicited deal could be blocked by the Committee on Foreign Investment in the United States, Reuters reports.
    • CFIUS, set up by the U.S. government to scrutinize deals that could pose national security threats, has been increasingly flexing its muscle amid intensifying Chinese interest in foreign investments.
    • Previously: Terex confirms buyout bid from China’s Zoomlion (Jan. 26 2016)
    | Fri, Jan. 29, 9:07 AM | 4 Comments
  • Tue, Jan. 26, 2:12 PM
    • Terex (TEX +43%) shares resume trading after a halt, soaring higher as the company confirms receiving a $30/share takeover offer from Zoomlion of China.
    • TEX says it has entered into a confidentiality agreement with Zoomlion and is discussing the proposal, which values the company at ~$3.3B; TEX says it will not comment further until the board has completed its review.
    • TEX had entered into an agreement to merge with industrial crane maker Konecranes (OTC:KNCRF) and TEX's board says it continues to support the proposed deal.
    • Word of the proposal had been reported earlier by Bloomberg.
    • Peers Manitowoc (MTW +14.3%) and Joy Global (JOY +8.6%) also trade higher on the news.
    | Tue, Jan. 26, 2:12 PM | 7 Comments
  • Tue, Jan. 26, 11:47 AM
    • Terex (TEX +14.4%) shoots higher after Bloomberg reports the company recently received a takeover approach from China’s Zoomlion Heavy Industry.
    • TEX reportedly rebuffed the proposal and is focused on completing its merger with Konecranes; while Zoomlion has not abandoned its interest in TEX, it is not clear if the Chinese company will improve on its offer.
    • Zoomlion is China’s second biggest maker of construction equipment by revenue.
    | Tue, Jan. 26, 11:47 AM
  • Dec. 16, 2015, 9:27 AM
    • Deutsche Bank lowers Terex (NYSE:TEX) to Hold from Buy, citing a balanced risk/reward amid slower construction equipment sales.
    • The firm also cut its price target on the stock to $20 from $25.
    • TEX -0.7% premarket
    | Dec. 16, 2015, 9:27 AM | 2 Comments
  • Nov. 12, 2015, 10:32 AM
    • Terex (TEX -5.9%) takes a tumble in early trade.
    • Shares are down 32.5% over the past 52 weeks.
    | Nov. 12, 2015, 10:32 AM
  • Oct. 20, 2015, 5:40 PM
    | Oct. 20, 2015, 5:40 PM
  • Oct. 20, 2015, 5:29 PM
    • Terex (NYSE:TEX): Q3 EPS of $0.58 misses by $0.04.
    • Revenue of $1.64B (-9.4% Y/Y) beats by $80M.
    | Oct. 20, 2015, 5:29 PM
  • Oct. 19, 2015, 5:35 PM
  • Oct. 19, 2015, 3:03 PM
    • Terex (NYSE:TEX) declares $0.06/share quarterly dividend, in line with previous.
    • Forward yield 1.31%
    • Payable Dec. 18; for shareholders of record Nov. 10; ex-div Nov. 6.
    | Oct. 19, 2015, 3:03 PM
  • Oct. 15, 2015, 4:33 PM
    • Terex (NYSE:TEX) appoints John Garrison, Jr. as its new President and CEO, effective Nov. 2, succeed retiring CEO Ronald DeFeo, who will continue to serve as Executive Chairman through year-end.
    • Garrison joins TEX from Textron, where he served as President and CEO of the company's Bell Helicopter segment.
    | Oct. 15, 2015, 4:33 PM
  • Oct. 15, 2015, 9:14 AM
    • Terex (NYSE:TEX) -3.6% premarket after Manitowoc (NYSE:MTW) pre-announced lower than expected Q3 revenue following yesterday's close, pointing specifically to weakness in its cranes segment.
    • MTW said its cranes segment continues to be hurt by a deteriorating demand environment, particularly in the Middle East and Asia, and lower than expected tower and crawler crane shipments exacerbated the Q3 shortfall in revenues.
    • Other companies in the commercial equipment sector include Accuride (NYSE:ACW), Meritor (NYSE:MTOR), Deere (NYSE:DE) and Caterpillar (NYSE:CAT).
    • MTW -14.4% premarket.
    | Oct. 15, 2015, 9:14 AM
  • Oct. 1, 2015, 8:33 AM
    | Oct. 1, 2015, 8:33 AM | 8 Comments
  • Sep. 25, 2015, 11:20 AM
    • Barclays analyst Robert Wertheimer begins coverage of the U.S. machinery sector with a negative view, seeing consensus estimates too high across the board with revenue for the current cycle already peaking for most of the sector.
    • The analyst expects a sharper than expected downturn for North American trucks, with another peak level eight years away; the tractor supercycle is only two years in a downturn, while the prior two supercycles saw seven consecutive down years in machinery sales, Wertheimer says.
    • Of the 15 companies in the firm's sector coverage universe, only two are rated Overweight: United Rentals (URI +1.5%) and Allison Transmission (ALSN +0.4%).
    • Started with Equal Weight ratings: Actuant (ATU -1.2%), AGCO (AGCO +1%), Caterpillar (CAT -1%), Joy Global (JOY -2.9%), Lincoln Electric (LECO -0.8%), Manitowoc (MTW -1.9%), Terex (TEX -0.7%) and WABCO (WBC -1.2%).
    • Rated Underweight: Deere (DE -0.3%), CNH Industrial (CNHI +1.5%), Cummins (CMI -0.8%), PACCAR (PCAR -1%) and Navistar (NAV -2.9%).
    | Sep. 25, 2015, 11:20 AM | 15 Comments
  • Sep. 24, 2015, 11:22 AM
    • Caterpillar's (CAT -6.3%) latest woes are wreaking havoc on other machinery stocks, including Deere (DE -3.4%), Joy Global (JOY -2.4%), Cummins (CMI -2.8%) and Terex (TEX -5.6%).
    • CAT said today it is lowering its sales outlook for the year and will cut as many as 5K jobs between now and the end of 2016, and that sales and revenue could drop in 2016 for a record fourth straight year.
    • Earlier this week, CAT gave its latest update on three-month rolling sales figures, which have now declined for 33 straight months.
    | Sep. 24, 2015, 11:22 AM | 13 Comments
  • Sep. 21, 2015, 8:04 AM
    • Terex's (NYSE:TEX) China president is optimistic about the long-term outlook for the Chinese construction market, although he expects to see half of existing mainland machinery makers close amid a four-year market downturn.
    • China is estimated to contribute 10%-15% of Terex's global sales by 2018, up from 5%-10% currently, Ken Lousberg told Reuters.
    | Sep. 21, 2015, 8:04 AM
Company Description
Terex Corp is a lifting & material handling solutions company. It is engaged in delivering reliable, customer-driven solutions for commercial applications including construction, infrastructure, quarrying, mining & manufacturing, among others.