ITMS
7 년 전
Terex Corp $TEX Dips After Earnings, Watch This Trade Level
Terex Corp (NYSE:TEX) manufactures capital equipment for the construction, infrastructure, mining and transportation industries. Last night, the company reported earnings and the stock is falling lower today. Currently, TEX stock is trading down by $1.75 to $41.18 a share. Traders should note that the stock is also trading below its 200-day moving average. This puts the stock in a weak technical position on the charts and signals further downside near term. The next major support level for TEX stock will be around the $38.00 level. This is where the stock broke out in early September 2017. Often, institutional traders will step in and defend the equity around this level when it is retested. I will be waiting for TEX stock to test this area before trading the stock on the long side.
Nicholas Santiago
InTheMoneyStocks
ofspring
9 년 전
Genie parent Terex to merge with Konecranes
Originally published August 11, 2015 at 9:59 amUpdated August 11, 2015 at 11:08 am
The alliance of Terex and Finnish competitor Konecranes is a response to a slowdown in demand for lifting gear and heightened competition from Chinese manufacturers.
By Phil Serafino, Aaron Kirchfeld
Matthew Monks
Bloomberg News
Terex, a U.S. maker of cranes and construction machinery, agreed to combine with Finnish competitor Konecranes to create a crane and materials-handling supplier with a combined $10 billion in sales and greater global reach.
Westport, Conn.-based Terex is the parent of Genie Industries, which makes boom lifts, scissor lifts and other equipment at plants in Moses Lake and Redmond that employ a couple thousand people.
Terex stockholders will receive 0.8 of a Konecranes share for each of their shares, the companies said in statements Tuesday. That values Terex at about $30.19 a share, based on Monday’s closing price for Konecranes, or 38 percent above where Terex shares finished the day.
The alliance is a response to a slowdown in demand for lifting gear and heightened competition from Chinese manufacturers, which have increased capacity and are looking further afield for contracts amid the prospect of a slowing domestic market. The companies have highlighted $121 million in annual savings as they combine their operations.
ofspring
10 년 전
Some insiders buying..
2014-12-03
Purchase 2014-12-05
3:41 pm TEREX CORP TEX Ellis George
(President, Construction) 32 $28.51 $912 26,165
(Direct
Indirect) View
2014-12-03
Purchase 2014-12-05
3:40 pm TEREX CORP TEX Lousberg Kenneth D.
(President, Terex China) 61 $28.51 $1,739 74,925
(Direct) View
2014-12-03
Purchase 2014-12-05
3:39 pm TEREX CORP TEX HENRY BRIAN J
(SVP Finance, Bus Development) 81 $28.51 $2,309 270,322
(Direct) View
2014-12-03
Purchase 2014-12-05
3:39 pm TEREX CORP TEX Bradley Kevin
(SVP & Chief Financial Officer) 40 $28.51 $1,140 163,692
(Direct) View
2014-12-03
Purchase 2014-12-05
3:38 pm TEREX CORP TEX BARR KEVIN A
(Senior V. P. Human Resources) 8 $28.51 $228 119,049
(Direct) View
2014-12-03
Purchase 2014-12-05
3:37 pm TEREX CORP TEX DEFEO RONALD M
(Chairman & CEO
Director) 40 $28.51 $1,140 1,584,497
(Direct) View
http://www.secform4.com/insider-trading/97216.htm
scion
15 년 전
SEC Charges Terex Corporation With Accounting Fraud
FOR IMMEDIATE RELEASE
2009-183
Washington, D.C., Aug. 12, 2009 -- The Securities and Exchange Commission today charged Terex Corporation, a Westport, Conn.-based heavy equipment manufacturer, with accounting fraud for making material misstatements in its own financial reports to investors, as well as aiding and abetting a fraudulent accounting scheme at United Rentals, Inc. (URI), another Connecticut-based public company.
Additional Materials
Litigation Release No. 21177
http://www.sec.gov/litigation/litreleases/2009/lr21177.htm
SEC Complaint
http://www.sec.gov/litigation/complaints/2009/comp21177.pdf
Terex has agreed to settle the SEC's charges and pay a penalty of $8 million. The SEC previously charged URI with fraud as well as officers of URI and Terex.
"Terex is being charged with helping United Rentals pull off a sophisticated accounting scheme," said Fredric D. Firestone, Associate Director in the SEC's Division of Enforcement. "These two public companies inflated year-end results in order to mislead investors during a period of industry recession."
The SEC's complaint, filed in U.S. District Court for the District of Connecticut, alleges that Terex aided and abetted the fraudulent accounting by URI for two year-end transactions that were undertaken to allow URI to meet its earnings forecasts. These fraudulent transactions also allowed Terex to prematurely recognize revenue from its sales to URI. The fraud occurred through URI's sales of used equipment to a financing company and its lease-back of that equipment for a short period. As part of the scheme, Terex agreed to sell the equipment at the end of the lease period and guarantee the financing company against any losses. URI separately guaranteed Terex against losses it might incur under the guarantee it had extended to the financing company.
The SEC's complaint also alleges that from 2000 through June 2004, Terex's accounting staff failed to resolve imbalances arising from certain intercompany transactions. Instead of investigating and correcting the imbalances, Terex offset the imbalances with unsupported and improper entries. As a result, costs were not recorded as expenses, and, on a consolidated basis, Terex appeared to be more profitable than it was.
Without admitting or denying the SEC's charges, Terex agreed to settle the Commission's action by consenting to be permanently enjoined from violating the antifraud, reporting, books and records and internal control provisions of the federal securities laws and by paying the $8 million penalty. The settlement is subject to court approval.
The Commission acknowledges the assistance of the U.S. Attorney's Office for the District of Connecticut and the New Haven Field Office of the Federal Bureau of Investigation in this matter.
# # #
For more information, contact:
Fredric D. Firestone
Associate Director, Division of Enforcement
(202) 551-4711
Kenneth R. Lench
Assistant Director, Division of Enforcement
(202) 551-4938
http://www.sec.gov/news/press/2009/2009-183.htm
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