Yesterday, 3:58 PM
- United Rentals (URI -9.3%) sinks nearly 10% following earlier comments by CEO Michael Kneeland and other top execs at a KeyBanc conference presentation that May revenue would come in a "little softer" than previously expected.
- When asked about utilization rates so far in May, CFO William Plummer said "May is coming in a little softer than we had in mind at that point [on the last quarter earnings call], and that's certainly something that we're focused on to try to understand what might be driving that."
- Peer Terex (TEX -7.4%) also is sharply lower near the close.
Yesterday, 10:19 AM
- Terex (TEX -5.9%) has taken a dip in early trade after its presentation at KeyBanc's Industrial, Automotive and Transportation Conference last night.
- The company highlighted a "challenging environment" and noted "difficult end market demand," especially in Cranes and Materials Processing.
- The stock has fallen over 32% in the past 52 weeks.
Fri, May 15, 1:55 PM
Wed, Apr. 29, 5:36 PM
Tue, Feb. 17, 5:28 PM
Tue, Feb. 17, 4:34 PM
Mon, Feb. 16, 5:35 PM
Wed, Jan. 28, 10:30 AM
Wed, Jan. 7, 8:35 AM
- Joy Global (NYSE:JOY) -1.2% premarket after KeyBanc downgrades shares to Hold from Buy, seeing limited near-term catalysts to spark a move higher and expecting further declines in mining capex to hurt order growth.
- The firm also cuts Terex (NYSE:TEX) and Kennametal (NYSE:KMT) to Hold from Buy in light of heightened uncertainty in the energy sector and the weakening euro, both of which should pressure earnings and are not yet fully reflected in Wall Street estimates.
Mon, Jan. 5, 6:57 PM
- Shares of United Rentals (NYSE:URI) fell 11% in today's trade after Evercore downgraded shares to Sell from Buy and lowered its price target to $87 from $123.
- The firm cited a Q4 construction equipment dealer survey that indicated the sharp decline in oil and commodity prices will adversely impact energy investments, and thus construction.
- Evercore made related downgrades to Terex (NYSE:TEX) and Caterpillar (NYSE:CAT), which was also downgraded this morning at JPMorgan to Underweight and fell 5.3%.
Dec. 22, 2014, 9:35 AM| Comment!
Nov. 26, 2014, 5:37 PM
Oct. 30, 2014, 7:26 AM
- Adjusted income from continuing operations of $67.8M, or $0.59 per share vs. $84.5M, or $0.73 per share in the third quarter of 2013.
- Backlog for orders deliverable during the next twelve months was $1.7B at September 30, 2014, a decrease of 5.1% from September 30, 2013 and a decrease of 22.5% from June 30, 2014.
- The company's annual outlook expects EPS to be at or near the bottom of the previously announced range of $2.35-$2.50, excluding restructuring and other unusual items, on net sales of $7.3B-$7.5B.
- Q3 results
- TEX -3.5% premarket
Oct. 29, 2014, 5:27 PM
Oct. 9, 2014, 12:34 PM
Sep. 19, 2014, 2:28 PM
- Caterpillar (CAT -1.7%) says worldwide machinery sales by its dealers fell 10% for the three-month period ended in August, marked by a 29% plunge in Latin America sales; global sales had dropped 9% in the May-July period and 10% in April-June.
- North America was the only region where sales were up in the latest rolling period as sales rose 8%, but that was down from 11% growth in July and a 14% rise in June.
- CAT's worldwide mining equipment sales fell 33% Y/Y, while construction equipment sales fell 1%; a 12% sales increase in its North America construction division was offset by a 23% drop in Latin America and a 10% decline in Asia/Pacific.
- The lone bright spot was a 4% sales increase in its energy and transportation equipment division.
- Mining equipment peers also are weak in today's trade: JOY -2%, MTW -3.7%, TEX -1%.
TEX vs. ETF Alternatives
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.
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