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Terex Shares Plunged: What You Need to Know | The Money Times

Money Matters - Simplified

Terex Shares Plunged: What You Need to Know

 
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

 What: Construction equipment maker Terex (NYSE: TEX)saw its shares sink as low as 11% in early trading, after posting a bigger-than-expected quarterly loss.

So what: The slump in nonresidential construction, particularly in Europe, continues to weigh heavily on the company's crane sales. Terex's $89.2 million loss for the quarter, or $0.82 a share, came in well below the average analyst estimate of a $0.15 loss.

Now what: Terex's short-term picture certainly doesn't look pretty. Management also expects to post a disappointing loss for the fourth quarter, despite a forecasted double-digit growth in sales. But with today's plunge guaranteed to create an even larger discount to rivals such as Caterpillar (NYSE: CAT)Deere (NYSE: DE), and CNH Global (NYSE: CNH), Terex might be a long-term turnaround worth considering.

© 2010 UCLICK L.L.C.

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