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JOY

Joy Global Inc.

6/19/2013, 11:51 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Wednesday, June 12, 12:50 PM Caterpillar's (CAT -0.3%) news that it will be raising its quarterly dividend by 15.4% failed to impress shareholders today, ticking lower since the open. The weakness is surprising given the fact that the hike was above last year's 13% increase and the 4.5% bump the year prior. It also moves the dividend yield to an impressive 2.9%, which is above those of its competitors Deere (DE -0.9%) at 2.4%, Cummins (CMI -0.8%) at 1.7% and Joy Global (JOY +0.2%) at 1.3%. 1 Comment [Consumer, Global & FX]
Wednesday, June 5, 7:57 AM Joy Global (JOY) -1.1% premarket after shares are downgraded to Neutral from Buy with a $60 price target (from $72) at Goldman Sachs, which cuts 2013-15 EPS estimates by an average 15% on declining new equipment share of mining capex budgets and a weaker aftermarket demand outlook. Goldman says it now doesn't see EPS stabilizing until 2014 vs. 2013. Comment! [Quick Ideas]
Thursday, May 30, 2:58 PM Investors overlook Joy Global's (JOY +2.8%) gloomy outlook and prefer to focus on a respectable quarter that saw gross margins rise both annually (+10bp) and sequentially (+40bp). Analysts say orders will need to improve for JOY to achieve its 2014 goal of flat revenues, but the feeling is that the company is managing the ugly coal market as well as can be expected. Comment! [On the Move]
Thursday, May 30, 7:48 AM More on Joy Global's (JOY) FQ2 results: Issues downside guidance for FY 2013, lowering top end of EPS to $5.75-$5.95 from prior $5.75-$6.50 vs. $6.17 analyst consensus, and top end of revenues to $4.9B-$5B from prior $4.9B-5.2B vs. $5.06B consensus. Bookings fell 8% Y/Y to $1.1B but improved 10% Q/Q. Expects 5% coal demand growth vs. 7%-plus average over the last five years. Shares flat premarket. 1 Comment [Energy, Earnings]
Thursday, May 30, 6:01 AM Joy Global (JOY): FQ2 EPS of $1.73 beats by $0.16. Revenue of $1.4B beats by $0.12B. (PR) Comment! [Earnings, Breaking News]
Thursday, May 30, 12:05 AM Notable earnings before Thursday’s open: BIG, COST, EXPR, FRO, GLNG, JOY, YGE 2 Comments [Earnings]
Wednesday, May 29, 5:30 PM Notable earnings before Thursday’s open: BIG, COST, EXPR, FRO, JOY, YGE Comment! [Earnings]
Wednesday, May 22, 1:50 PM Joy Global (JOY -3.3%) slides today, making it one of the worst laggards in the S&P 500 after Barclay's cut the shares to EqualWeight and lowers its price target from $79 to $66. The bank says it's grown increasingly concerned about mining, and while JOY remains one of the higher-quality names in the space, mining-related austerity could be a more- prolonged headwind than previously thought. Comment! [On the Move]
Tuesday, May 21, 10:52 AM Joy Global (JOY) declares $0.175/share quarterly dividend, in line with previous. Forward yield 1.20%. For shareholders of record June 4. Payable June 18. Ex-div date May 31. (PR)
Comment! [Dividends]
Saturday, May 4, 3:52 PM Barron's is out with its list of the 500 financially strongest companies as ranked after a rigorous cash and sales analysis. A quick filter on the list shows a good chunk of the names trade with a single-digit price to earnings ratio including Goodyear Tire & Rubber (GT). Despite all the buzz about booming auto sales in the U.S. and China, concerns about growth for Goodyear's products in other regions of the globe have lowered expectations. But with auto sale estimates for full-year being taken higher, Goodyear could see enough consistent revenue growth to justify a higher trading multiple. (Top 25: AAPL, WCC, WDC, DVA, CHRW, QCOM, JOY, V, STX, MRC, MA, CVI, COF, SYMC, MCK, WCG, ETN, BRCM, TMO, CI, CBI, NOV, WNR, HFC, DK) 39 Comments [Consumer, Quick Ideas]
Monday, April 22, 5:41 PM Caterpillar gained today because its weak Q1 report was no worse than expected, but there's little chance of a snapack in global metals and mining later in 2013, 24/7's Jon Ogg writes. Bottoming out may take much longer than expected now, he warns, and sector investors may see more volatility and timing pain than in the past. (also) Today: CAT +2.8%, FCX +1.1%, JOY +0.5%, DE +0.4%, X -0.6%. 1 Comment [Global & FX]
Monday, April 15, 11:34 AM Shares of Caterpillar (CAT -2.7%) and Joy Global (JOY -2.7%) take a hit from weak China GDP numbers for the January-March quarter. The economiy grew "just" 7.7% from a year earlier, less than forecasts calling for growth of 8%, while industrial production in April slowed to 8.9%, the weakest in more than a year. Comment! [Global & FX, On the Move]
Friday, April 12, 2:01 PM Shares of Joy Global (JOY -0.9%) fall for a second day in a row on a report by Anonymous Analytics yesterday that suggested fraud at Joy's IMM unit. William Blair thinks the impact may be overblown, saying that although the report was very detailed and credible, IMM accounts for less than 5% of JOY's earnings. The bigger issue for JOY and other industrial names like CAT are weak mining markets. 3 Comments [On the Move, Commodities]
Tuesday, March 26, 10:41 AM Susquehanna lowers CAT (CAT +0.5%) 2013 and 2014 EPS estimates to $7.45 from $8.00 and to $8.40 from $9.05 respectively. Analyst Ted Grace cites "conversations with clients" as well as meetings with CAT and competitors Joy Global JOY and Komatsu. (Earlier: CAT CEO comments on Europe) 2 Comments [Global & FX]
Thursday, March 14, 12:39 PM Joy Global (JOY -0.5%) announces President and CEO Michael Sutherlin plans to retire at the end of this year; Ted Doheny, currently President and COO of the Underground Mining Equipment division, is named as his successor. Comment! [Commodities]
Monday, March 4, 2:09 PM Caterpillar (CAT -2.2%) is the Dow's worst performer today amid renewed concerns about economic growth in China. As China looks to curb rising home prices, the likely result would be lower demand for basic materials. The impact is hitting heavy equipment manufacturers such as Joy Global (JOY -3.9%), diversified miners including Cliffs Natural Resources (CLF -6%), and steelmakers (SLX -2.2%). Comment! [Global & FX, On the Move]

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