TEX $60.50 - Terex Corp
We have played TEX before as a sideline business to the energy sector. TEX is a diverse company with one of its segments constructing equipment for the refining sector. TEX lost about 50% of its value from October to January on worries about a global slowdown in construction activity. After establishing a possible bottom in January at $50 they appear to be headed higher again. The aggressive action by the Fed has calmed fears of that slowdown.
Terex Corporation is a diversified global manufacturer with 2006 net sales of $7.6 billion. Terex operates in five business segments: Aerial Work Platforms, Construction, Cranes, Materials Processing & Mining, and Roadbuilding, Utility Products and Other. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries. Terex offers a complete line of financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services.
Buy: Jan 2009 $70 LEAP Call VXQ-AN currently $8.60