real-time news and commentary for investors
Wednesday, Aug 28
Joy shares get no joy following weak bookings, outlook
- Joy Global's (JOY) shares sink 5.7% to $48.40 following its poor bookings and outlook in its FQ3 report, which Citi says were weaker than expected.
- "Consensus 2014/15 EPS estimates were too high going into the print and will be coming down sharply," Citi says. Shares could test the 52-week low of $47.83 depending on how the earnings call goes at 11 am.
- BMO says: "EPS outlook will likely also be under pressure with FY15 possibly pointing toward the $4.00 range."