Joy Global Inc.(JOY)- NYSE
  • Tue, Sep. 6, 12:01 PM
    • August monthly performance was: +0.18%
    • AUM of $1.57B
    • 52-week performance vs. the S&P 500 is: +5%
    • $0.15 in dividends were paid in August
    • Top 10 Holdings as of 7/29/2016: Targa Resources Corp (TRGP): 1.75908%, Joy Global Inc (JOY): 1.20074%, Cal-Maine Foods Inc (CALM): 1.0183%, Covanta Holding Corp (CVA): 0.98535%, Regal Entertainment Group (RGC): 0.984%, Pattern Energy Group Inc Class A (PEGI): 0.93953%, Royal Gold Inc (RGLD): 0.88436%, ALLETE Inc (ALE): 0.85466%, Black Hills Corp (BKH): 0.83077%, B&G Foods Inc (BGS): 0.79923%
    | Tue, Sep. 6, 12:01 PM
  • Thu, Sep. 1, 7:33 AM
    • Adjusted net loss of $9.6M, or $0.10 per diluted share vs. $57.9M, or $0.59 per diluted share in the same quarter a year ago.
    • Consolidated bookings -9% Y/Y to $527M. Original equipment orders -46%, while service orders -12% compared to the prior year.
    • Backlog at the end of the quarter was $916M vs. $873M at the beginning of the fiscal year.
    • Capital expenditures were $11M, compared to $18M in the third quarter of fiscal 2015.
    • "The outlook remains tepid and the financial condition of our customers is challenged, which will continue to impact both the timing and level of our incoming orders through 2017," the company said in a statement.
    • JOY -0.3% premarket
    • FQ3 results
    | Thu, Sep. 1, 7:33 AM
  • Thu, Sep. 1, 6:11 AM
    • Joy Global (NYSE:JOY) declares $0.01/share quarterly dividend, in line with previous.
    • Forward yield 0.15%
    • Payable Oct. 3; for shareholders of record Sept. 19; ex-div Sept. 15.
    | Thu, Sep. 1, 6:11 AM
  • Thu, Sep. 1, 6:03 AM
    • Joy Global (NYSE:JOY): FQ3 EPS of $0.10 misses by $0.02.
    • Revenue of $586.55M (-26.0% Y/Y) misses by $18.77M.
    • Press Release
    | Thu, Sep. 1, 6:03 AM
  • Wed, Aug. 31, 5:30 PM
    | Wed, Aug. 31, 5:30 PM | 1 Comment
  • Wed, Aug. 3, 8:11 AM
    • July monthly performance was: +4.79%
    • AUM of $1.51B
    • 52-week performance vs. the S&P 500 is: +5%
    • $0.23 in dividends were paid in July
    • Top 10 Holdings as of 6/30/2016: Targa Resources Corp (TRGP): 2.06845%, Cal-Maine Foods Inc (CALM): 1.12003%, Covanta Holding Corp (CVA): 1.05209%, Regal Entertainment Group (RGC): 0.95889%, Joy Global Inc (JOY): 0.95533%, Pattern Energy Group Inc Class A (PEGI): 0.92093%, ALLETE Inc (ALE): 0.89961%, Black Hills Corp (BKH): 0.86375%, Royal Gold Inc (RGLD): 0.78356%, B&G Foods Inc (BGS): 0.77656%
    | Wed, Aug. 3, 8:11 AM
  • Tue, Aug. 2, 7:01 AM
    • July monthly performance was: +4.79%
    • AUM of $1.51B
    • 52-week performance vs. the S&P 500 is: +6%
    • $0.23 in dividends were paid in July
    • Top 10 Holdings as of 6/30/2016: Targa Resources Corp (TRGP): 2.06845%, Cal-Maine Foods Inc (CALM): 1.12003%, Covanta Holding Corp (CVA): 1.05209%, Regal Entertainment Group (RGC): 0.95889%, Joy Global Inc (JOY): 0.95533%, Pattern Energy Group Inc Class A (PEGI): 0.92093%, ALLETE Inc (ALE): 0.89961%, Black Hills Corp (BKH): 0.86375%, Royal Gold Inc (RGLD): 0.78356%, B&G Foods Inc (BGS): 0.77656%
    | Tue, Aug. 2, 7:01 AM
  • Tue, Jul. 26, 11:22 AM
    • Komatsu's (OTCPK:KMTUY -0.2%) $2.9B takeover of Joy Global (JOY -0.1%) is expected to get the nod from the European Commission, although divestments might be required, two Brussels-based lawyers told CTFN.
    • The transaction will ultimately obtain approval, "perhaps with a few distinct divestments," but "it will not be painless," an antitrust lawyer close to the Japanese heavy equipment maker said.
    • A second antitrust lawyer agreed that although the transaction will allow Komatsu to gain access to the underground mining business, overlaps in some product lines, such as wheel loaders, might require divestments.
    | Tue, Jul. 26, 11:22 AM
  • Thu, Jul. 21, 3:37 PM
    • Joy Global (JOY +19.2%) surges nearly 20% after Japanese mining equipment maker Komatsu agreed to acquire its U.S. rival for $3.7B including debt, although Citigroup's Timothy Thein thinks some investors might not be happy with the $28.30/share purchase price.
    • Thein's analysis of the cost basis of a select group of JOY’s largest shareholders shows that ~60% of those shares would be sold at a loss at $28.30, and since Komatsu's offer is all cash, a sale locks in losses for those shareholders and may result in pressure for a higher take-out price.
    • Nevertheless, Thein believes the price looks reasonable assuming only modest near-term demand recovery potential, since assumption of a stronger recovery would be required to support a higher take-out price; thus Thein sees a high probability of the deal closing.
    | Thu, Jul. 21, 3:37 PM | 3 Comments
  • Thu, Jul. 21, 9:15 AM
    | Thu, Jul. 21, 9:15 AM | 1 Comment
  • Thu, Jul. 21, 3:52 AM
    • Looking to strengthen its core mining equipment unit, Japan's Komatsu (OTCPK:KMTUY) has agreed to buy Joy Global (NYSE:JOY) for $2.9B, amid a fight for market share with industry leader Caterpillar (NYSE:CAT).
    • Under the terms of the agreement, Joy stakeholders will receive $28.30 in cash for each outstanding share of common stock held, representing a 20% premium to yesterday's closing price.
    • JOY +20% premarket
    | Thu, Jul. 21, 3:52 AM | 25 Comments
  • Mon, Jun. 13, 10:33 AM
    • A late rally? Joy Global (NYSE:JOY) sank 1.7% in Friday's trading session despite an upgrade at FBR Capital due to a firmer sales outlook.
    • JOY shares are now making their way into the green, up 4.5% in early trade.
    | Mon, Jun. 13, 10:33 AM
  • Fri, Jun. 10, 11:26 AM
    • Joy Global (JOY -0.3%) is upgraded to Outperform from Market Perform with a $25 price target, raised from $14, at FBR Capital on increased confidence in growth opportunities for the company.
    • The firm thinks, with the organic order rate tracking well against their estimates, its outlook for 2017 is de-risked; it has increased its estimates from the previous assumption of further declines in revenue on flattish margins.
    • The firm notes that despite exceptionally weak domestic coal markets and their effect on JOY's service bookings in the most recent period, the company was able to overcome this and still report solid orders, including strategic wins in India and the Canadian oil sands.
    | Fri, Jun. 10, 11:26 AM
  • Tue, Jun. 7, 3:58 PM
    • Joy Global (JOY +1.2%) is maintained with a Sell rating at UBS, although with a raised price target of $11 from $8, saying the company still needs an earnings recovery to support debt reduction as coal challenges remain.
    • The firm thinks JOY's near-term credit picture has improved, but it still sees fundamental risk to coal and broader mining capex for 2017, and with 77% of JOY's implied value based on future growth, the shares are pricing in too optimistic a recovery in earnings.
    • JOY's FQ2 bookings came in better than expected, but the company "indicated that bookings are lumpy and likely to come down" in H2 vs. Q2, UBS says.
    • The firm also notes that while JOY raised its FY 2016 cash flow outlook by 5%-10%, the company has $1B in debt coming due over the next five years.
    | Tue, Jun. 7, 3:58 PM | 10 Comments
  • Thu, Jun. 2, 9:15 AM
    | Thu, Jun. 2, 9:15 AM
  • Thu, Jun. 2, 7:43 AM
    • Adjusted net loss of $9.1M, or $0.09 per diluted share vs. $62.4M, or $0.64 per diluted share in the same quarter a year ago.
    • Consolidated bookings fell 9% Y/Y to $681M. Equipment booking +12% Y/Y to $167M. Service bookings dropped 14% to $514M.
    • Backlog at the end of the quarter was $976M vs. $873M at the beginning of the fiscal year.
    • Capital expenditures were $13M, compared to $18M in the second quarter of fiscal 2015.
    • "With lower service sales from the step down in production forecasts for U.S. coal and Canadian oils sands markets... we now expect sales and earnings for the year (excluding some charges and adjustments) to be at the lower end of our previous guidance range of $2.4B-$2.6B for sales and $0.10-$0.50 for adjusted earnings per fully diluted share," the company said in a statement.
    • FQ2 results
    | Thu, Jun. 2, 7:43 AM