Terex Drops After Cutting 2013 Profit Forecast on Construction
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Terex Corp., the maker of cranes, trucks and lifts, plunged the most in two years after reducing its 2013 earnings forecast on a “softer” market for its equipment used at construction sites and ports.
Terex fell 14 percent to $27.30 at 9:40 a.m. in New York. The shares earlier dropped 16 percent, the most intraday since May 6, 2010.