12:03 pm Terex Falls on Profit Warning
Machinery manufacturing company Terex (TEX 32.72, -1.98) is having a tough go of it today after lowering its third quarter and FY14 EPS guidance below analysts' expectations. The warning was pinned primarily on the company's Cranes segment, which is its second largest segment accounting for 27% of sales in 2013.
The company's other business segments include aerial work platforms, material handling & port solutions, construction, and materials processing.
Terex said the order rate for its Cranes business dropped significantly in July and …More