Terex (TEX) NewsBite - TEX Falls on Unemployment Report

Terex (NYSE: TEX) opened at $19.08. So far today, the stock has hit a low of $18.47 and a high of $19.09. TEX is now trading at $18.49, down $0.96 (-4.94%). Over the last 52 weeks the stock has ranged from a low of $7.34 to a high of $29.57. Shares of TEX are trading lower with the rest of the market this morning after a worse-than-expected jobs report spooked investors and raised concerns of a sluggish economic recovery. The Labor Department reported this morning that the economy shed 230,000 jobs in September, far more than analysts' forecasts, as the unemployment rate rose to 9.8 percent. Technical indicators for the stock are neutral and S&P gives TEX a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on TEX the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 22 range.

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