Industry Overview - The Zacks Manufacturing - Construction and Mining industry is currently facing challenges due to a prolonged contraction in the manufacturing sector and subdued customer spending attributed to tariffs [1][4]. - The industry includes companies that manufacture and sell construction, mining, and utility equipment, supporting various sectors such as oil and gas, power generation, and infrastructure projects [3]. Current Trends - Despite ongoing weaknesses, increased infrastructure investment in the U.S. and demand from the mining sector, driven by the energy transition trend, are expected to support the industry [2][5]. - The manufacturing index has been in contraction for 10 months, with a reading of 47.9% in December, indicating a significant decline in manufacturing activity [4]. - The energy transition trend is anticipated to boost demand for mining equipment as the shift from fossil fuels to zero emissions requires more commodities [5]. Financial Performance - The Manufacturing - Construction and Mining industry has outperformed the broader market, growing 63.3% over the past year compared to the sector's 8.3% return and the S&P 500's 19.2% increase [10]. - The industry is currently trading at a trailing 12-month EV/EBITDA ratio of 17.37X, which is lower than the S&P 500's 18.87X and the Industrial Products sector's 25.7X [13]. Company Highlights - **Caterpillar Inc. (CAT)**: The company reported year-over-year revenue growth in Q3 2025, with a record-high backlog of $39.9 billion. It is expected to benefit from increased infrastructure spending and the global energy transition [17][18]. CAT shares have gained 23.8% in the past three months [17]. - **Terex Corporation (TEX)**: Recently sold its Terex Tower and Rough Terrain Cranes businesses to reduce cyclicality and drive core growth. The company is merging with REV Group, expected to create a leading specialty equipment manufacturer with $7.8 billion in combined net sales [21][23]. TEX shares have gained 16% in the past three months [23]. - **Astec Industries (ASTE)**: Completed the acquisition of CWMF, enhancing its gross margin and earnings per share. The company is focusing on cost reductions and pricing actions to offset tariff impacts [25][26]. ASTE shares have gained 7.6% in the past three months [25].

NEW YORK and NEW ORLEANS, Jan. 7, 2026 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of REV Group, Inc. (NYSE: REVG) to Terex Corporation (NYSE: TEX). Under the terms of the proposed transaction, shareholders of REV Group will receive $8.71 in cash plus 0.9809 of a share of the combined company for each share of REV Group that they own. KSF is seeking to determine whether this considerat ...

Core Viewpoint - The article summarizes the latest analyst ratings from Wall Street, highlighting significant upgrades, downgrades, and new coverage that could impact market sentiment and investment decisions [1][6]. Upgrades - Oppenheimer upgraded General Electric Energy (GEV) from "Hold" to "Outperform," setting a target price of $855, citing improved pricing and sales, along with enhanced factory utilization and operational efficiency [5]. - JPMorgan raised PepsiCo (PEP) from "Neutral" to "Overweight," increasing the target price from $151 to $164, due to the company's accelerated innovation and marketing spending [5]. - HSBC upgraded AbbVie (ABBV) from "Hold" to "Buy," with a target price increase from $225 to $265, noting the company's growth momentum and strong execution capabilities [5]. - Morgan Stanley raised Terex (TEX) from "Equal Weight" to "Overweight," with a target price increase from $47 to $60, as the company's performance has rebounded and its business mix has improved [5]. - Oppenheimer upgraded Dyne Therapeutics (DYN) from "Hold" to "Outperform," significantly raising the target price from $11 to $40, highlighting the stock's undervaluation compared to its competitor Avidity [5]. Downgrades - HSBC downgraded Biogen (BIIB) from "Hold" to "Reduce," with a slight target price decrease from $144 to $143, citing the poor performance of its multiple sclerosis business [5]. - Jefferies lowered Emerson Electric (EMR) from "Buy" to "Hold," maintaining a target price of $145, indicating limited short-term upside due to the company's recent performance outlook [5]. - JPMorgan downgraded Noble Energy (NE) from "Overweight" to "Neutral," raising the target price from $31 to $33, while expressing caution about upstream capital expenditures [5]. - Jefferies downgraded Rexnord (RRX) from "Buy" to "Hold," reducing the target price from $170 to $160, noting that the company's transformation plan is taking longer than expected [5]. - Jefferies lowered Vail Resorts (VLTO) from "Buy" to "Hold," with a target price decrease from $125 to $105, stating that the current stock price reflects the company's stable demand and strong returns [5]. New Coverage - Guggenheim initiated coverage on Amazon (AMZN) with a "Buy" rating and a target price of $300, suggesting that the retail sector is showing signs of improvement despite previous concerns [9]. - B. Riley initiated coverage on Roblox (RBLX) with a "Buy" rating and a target price of $125, highlighting the company's strong long-term fundamentals [13]. - Cowen initiated coverage on Sensata Technologies (IOT) with an "Outperform" rating and a target price of $55, believing the company's platform aligns well with the $45 trillion "physical operations" industry [13]. - B. Riley initiated coverage on Take-Two (TTWO) with a "Buy" rating and a target price of $300, driven by the anticipated release of Grand Theft Auto 6 in November 2026 [13]. - Canadian Imperial Bank of Commerce initiated coverage on Shark Ninja (SN) with a "Buy" rating and a target price of $135, viewing the company as a "category disruptor" [13].

Core Points - The former Attorney General of Louisiana, Charles C. Foti, Jr., and Kahn Swick & Foti, LLC are investigating the proposed sale of REV Group, Inc. to Terex Corporation to assess the adequacy of the price and process involved in the transaction [1] - Under the proposed terms, shareholders of REV Group will receive $8.71 in cash plus 0.9809 shares of the combined company for each share they own [1] Company and Industry Summary - The investigation aims to determine if the proposed consideration undervalues REV Group, Inc. and whether the process leading to this valuation was adequate [1] - Kahn Swick & Foti, LLC is also involved in similar investigations for other companies, indicating a broader trend of scrutiny in proposed mergers and acquisitions within the industry [5][6]

Group 1 - Terex (TEX) shares are experiencing renewed disappointment due to challenging market conditions and significant leverage on the balance sheet [1] - The company is currently facing a difficult business environment, which is impacting its performance [1] Group 2 - The investment group "Value In Corporate Events" focuses on identifying opportunities related to IPOs, mergers & acquisitions, and earnings reports [2] - The group provides coverage of approximately 10 major events each month to find the best investment opportunities [2]

Core Viewpoint - Terex plans to exit the aerial work platform business and merge with REV Group, which specializes in manufacturing specialty vehicles such as fire trucks and ambulances [1][3]. Financial Performance - In Q3 2025, Terex reported sales of $1.4 billion, up from $1.2 billion in the same period last year, driven by strong demand for refuse collection vehicles, multifunctional vehicles, parts, services, and digital solutions [4]. - The ESG segment saw a 13.6% increase in sales, reaching $435 million, while the aerial work platform segment experienced a 13.2% decline in sales to $537 million due to decreased sales volume, unfavorable customer mix, and tariff resistance [4]. - The material handling segment's sales fell by 6.1% year-over-year to $417 million, although growth in the aggregate business in North America, Europe, and India offset declines in concrete and crane businesses [4]. Strategic Moves - Terex is seeking strategic options to exit the aerial work platform segment, potentially selling its Genie business to reduce exposure to cyclical end markets [3][4]. - The company aims to become a diversified leader in emergency, sanitation, utility, environmental, and material handling equipment markets, which are characterized by low cyclicality, resilient demand, and strong long-term growth prospects [4]. Merger Details - The aerial work platform business is expected to generate approximately $2 billion in revenue for Terex in 2025, with total group sales projected at $5.4 billion [5]. - Following the merger, the combined sales of Terex and REV Group (excluding the aerial work platform) are expected to reach $5.8 billion in 2025 [5]. - Terex CEO Simon Meester will lead the merged company, which aims to create a large, diversified industrial leader by integrating complementary business portfolios [7]. - Post-merger, Terex shareholders will own 58% of the new entity, while REV Group shareholders will hold 42% [7].

Financial Performance - Net sales for Q3 2025 reached $1,387 million, a 14.5% increase from $1,212 million in Q3 2024[13] - Gross profit for Q3 2025 was $282 million, compared to $245 million in Q3 2024, reflecting a gross margin improvement[13] - Operating profit for Q3 2025 was $140 million, up from $122 million in Q3 2024, indicating a 14.8% year-over-year growth[13] - Net income for Q3 2025 was $65 million, down from $88 million in Q3 2024, resulting in a diluted earnings per share of $0.98[13] - The company reported comprehensive income of $57 million for Q3 2025, down from $152 million in Q3 2024[13] - Net income for the nine months ended September 30, 2025, was $158 million, compared to $337 million for the same period in 2024, reflecting a decrease of 53%[22] - Operating profit for the nine months ended September 30, 2025, was $338 million, down from $473 million in the same period of 2024, indicating a decrease of 28.5%[13] - The company’s interest expense for Q3 2025 was $45 million, significantly higher than $13 million in Q3 2024[13] - Comprehensive income for the nine months ended September 30, 2025, was $256 million, down from $345 million in the same period of 2024[13] Assets and Liabilities - Total assets increased to $6,166 million as of September 30, 2025, compared to $5,730 million at the end of 2024[16] - Current liabilities rose to $1,275 million as of September 30, 2025, up from $1,073 million at the end of 2024[16] - Long-term debt remained stable at $2,580 million, indicating no change from December 31, 2024[16] - Cash and cash equivalents increased to $509 million as of September 30, 2025, compared to $388 million at the end of 2024[16] - Retained earnings grew to $2,087 million as of September 30, 2025, up from $1,964 million at the end of 2024[16] - Trade accounts receivable increased to $734 million as of September 30, 2025, from $560 million at December 31, 2024[30] - Total inventories increased to $1,207 million as of September 30, 2025, up from $1,147 million at December 31, 2024[68] - Property, plant, and equipment – net was reported at $738 million as of September 30, 2025, compared to $714 million at December 31, 2024[69] Revenue Segments - For the nine months ended September 30, 2025, consolidated net sales reached $4,103 million, up from $3,886 million in the same period of 2024, reflecting a year-over-year growth of approximately 5.6%[47] - The Aerials segment reported net sales of $1,594 million for the nine months ended September 30, 2025, compared to $1,974 million in the same period of 2024, showing a decline of approximately 19.2%[47] - The Environmental Solutions segment achieved net sales of $1,264 million for the nine months ended September 30, 2025, compared to $454 million in the same period of 2024, representing a significant increase of approximately 178.5%[47] - Aerial Work Platforms generated $442 million in sales for the three months ended September 30, 2025, while Materials Processing Equipment contributed $278 million[51] - The company reported consolidated net sales of $1,387 million for the three months ended September 30, 2025, with segment contributions of $537 million from Aerials, $417 million from Materials Processing, and $435 million from Environmental Solutions[46] Capital Expenditures and Investments - Capital expenditures for the nine months ended September 30, 2025, were $84 million, compared to $88 million in 2024, indicating a slight decrease of 4.5%[22] - Capital expenditures for the total company in the three months ended September 30, 2025, were $24 million, a decrease from $29 million in the same period of 2024, indicating a decline of approximately 17.2%[48] - The company reported net cash used in investing activities was $(44) million for the nine months ended September 30, 2025, compared to $(80) million in 2024, showing an improvement of 45%[22] - The company repurchased shares worth $55 million during the nine months ended September 30, 2025[22] Tax and Regulatory Matters - The Company recognized an income tax expense of $29 million on income of $94 million for the three months ended September 30, 2025, resulting in an effective tax rate of 31.4%, compared to 11.1% in the same period of 2024[53] - The effective tax rate for the nine months ended September 30, 2025, was 24.5%, an increase from 17.8% in the same period of 2024, primarily due to unfavorable discrete items related to changes in German tax legislation[54] Mergers and Acquisitions - The acquisition of Environmental Solutions Group was completed for a purchase price of $2,010 million in cash, enhancing the Company's portfolio in the waste and recycling market[55] - The company entered into a merger agreement with REV Group, with a total cash component of $425 million expected to close in the first half of 2026[109] - The Company’s total sales for the nine months ended September 30, 2025, included $2,737 million attributable to the U.S., its country of domicile[50] - The company expects to close the divestiture of its tower and rough terrain cranes businesses for $115 million in Q4 2025, enhancing its capital structure[65] Shareholder Returns - Dividends declared for 2025 were consistent at $0.17 per share for each quarter, similar to 2024[108] - The Company awarded 1 million shares of Restricted Stock to employees with a weighted average fair value of $41.31 per share during the nine months ended September 30, 2025[103] - The Company repurchased 1,360,706 shares for $53 million during the nine months ended September 30, 2025, compared to 567,108 shares for $32 million in the same period of 2024[107]

Group 1 - The article does not provide any specific content or key points related to a company or industry [1]

Group 1 - The article discusses the importance of enabling Javascript and cookies in browsers to prevent access issues [1] - It highlights that users with ad-blockers may face restrictions when trying to access content [1]

Core Insights - Terex (TEX) reported quarterly earnings of $1.5 per share, exceeding the Zacks Consensus Estimate of $1.22 per share, and showing an increase from $1.46 per share a year ago, resulting in an earnings surprise of +22.95% [1] - The company posted revenues of $1.39 billion for the quarter ended September 2025, which was below the Zacks Consensus Estimate by 0.88%, but an increase from $1.21 billion year-over-year [2] - Terex shares have increased approximately 21.1% year-to-date, outperforming the S&P 500's gain of 17.2% [3] Earnings Outlook - The future performance of Terex's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4][5] - The current consensus EPS estimate for the upcoming quarter is $1.30 on revenues of $1.34 billion, and for the current fiscal year, it is $4.84 on revenues of $5.46 billion [7] Industry Context - The Manufacturing - Construction and Mining industry, to which Terex belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Hyster-Yale (HY), a competitor in the same industry, is expected to report a significant decline in earnings, with a forecast of $0.03 per share, representing a year-over-year change of -96.9% [9]