TEX 2Q13 earnings was weak. Subsequently, the company cut projections for 3Q13.
Now, CAT is singing the blues, and the stock is red.
TEX is weaker than CAT.
TEX is overpriced even with good earnings ($2 per year).
Back to sub $30 after 3Q13 earnings today--IMHO.
I wouldn't make that assumption based on CAT's results. CAT is heavy in mining and TEX sold off their mining division a while back. If you look at URI's CC (better indicator for TEX) the future is bright for TEX's industries.
if this thing wakes up on the wrong side of the bed today, it's going to do its famous $7 free fall for the next weeks until it hits $27. I may go in then..or if it smells nice today, it will surge to 40 by end of next week..
but since we know how they roll, ill have a better chance of putting down 50K on red tonight at Parx Casino in Bensalem PA :)