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Terex falls on profit guidance

The heavy equipment maker sees Q2 EPS of 50-60 cents, well below analysts forecasts of 82 cents, and it slashed its full-year EPS estimate to $1.90-$2.10 from $2.40-$2.70 earlier. Terex (TEX) said U.S. sales continue improving, but more slowly, while Europe is weak and the rest of the world is mixed. No. 1 heavy equipment maker Caterpillar (CAT) cut its '13 guidance in April on weak construction and mining gear sales. Terex fell 7.7% to 29.29. Caterpillar rose 0.1% to 83.92.