The purpose of this blog is to retain an electronic diary/archive of key market moving news and events. The morning note includes my personal views on the financial markets and fundamental research pulled from newswires, Bloomberg, First Call, and other market intelligent websites and blogs. The note helps me prepare for the trading day and helps my PM position the porfolio for upcoming events and catalysts.
Thursday, September 4, 2008
TEX Cuts Guidance
TEX shares are down over 10% after the company cuts Q3, Q4, and FY08 guidance ahead of their analyst meeting at 9am ET. TEX sees Q3 EPS of 1.26-1.38 vs. street consensus of 1.58. TEX sees Q4 EPS of 1.20-1.33 vs. street consensus of 1.66. Ripple Effect: Farm Equipment peer group is indicated lower (CAT, DE, CMI, MTW). Second Derivative Effect: TEX news could be an overhang for the Fertilizer Sector (POT, MON, MOS, CF, AGU, TRA, IPI, BG).
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