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Joy Global Inc. (JOY)

  • Feb. 20, 2013, 9:41 AM
    Joy Global (JOY +2.4%) pulls back from earlier highs after Swedish engineering company Atlas Copco, which is rumored to be in talks to buy Joy, said a conference call for investors this afternoon is merely an update for bondholders and will provide no drama.
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  • Feb. 20, 2013, 7:41 AM
    Joy Global (JOY) takeover rumors surface again. This time the supposed buyer is Swedish conglomerate Atlas Copco. Shares +5.5% premarket.
  • Feb. 19, 2013, 9:59 AM
    Joy Global (JOY +1.6%) shares pop at the open on renewed takeover chatter. GE-for-JOY rumors had heated up a few months ago, and they appear to have made a comeback.
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  • Oct. 26, 2012, 11:32 AM
    Shares of Joy Global (JOY +2.4%) are spiking on renewed takeover talk. This time the rumor is that GE has offered $78 per share for the company. Earlier in the week, William Blair's Larry De Maria commented that a takeout of JOY by GE was highly likely over the medium term.
  • Sep. 27, 2012, 2:41 PM
    Joy Global (JOY +1.1%) shares rise on a volume spike after GE says it's focusing on using cash for buybacks and potential acquisitions in the $1B-$3B range. JOY has been a rumored GE target, but its market cap is ~$6B.
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  • Sep. 24, 2012, 10:25 AM
    Joy Global (JOY +1.9%) shares are moving higher on chatter that GE could be ready to take over the mining company. William Blair's Larry De Maria says a bid from GE is "increasingly likely" in the medium term. "It's a good a time to be looking at acquisitions in a value sense," GE Mining CEO Geoff Knox tells Bloomberg.
  • Aug. 8, 2012, 10:32 AM
    Joy Global (JOY +2.4%) jumps, and trader Marc Lehman speculates the NYSE's removal of the listing of the company's Preferred Stock Purchase Rights means the firm - occassionally subject to takeover chatter - has eliminated its poison pill.
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  • Jul. 10, 2012, 4:18 AM
    Truck maker Komatsu has no interest in buying Joy Global (JOY) after concluding there are few synergies to aid Komatsu's push into underground mining equipment. Joy Global's low valuation and industry M&A had made it the subject of takeover speculation.
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  • Jun. 5, 2012, 10:57 AM
    Joy Global's (JOY +1.3%) low takeover valuation may attract potential acquirers, as a buyer could offer a premium of 80% and still acquire it at the least expensive net income multiple on record for the industry, Bloomberg reports. JOY trades at ~8.2x 12-month trailing earnings, lower than 90% of similar construction and mining equipment makers. One possible suitor: Komatsu (KMTUY.PK).
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  • Aug. 31, 2011, 9:39 AM
    Joy Global (JOYG +5.6%) opens with a bounce after topping Q3 earnings views, and raising full-year earnings and revenue guidance. The mining equipment maker also says it will sell its LeTourneau drilling operation to Cameron International (CAM +1%) for $375M. JOYG is in the process of buying China's International Mining Machinery Holdings.
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  • Jul. 14, 2011, 3:54 AM
    Joy Global (JOYG) is reportedly in talks to buy China's International Mining Machinery Holdings (ICMHF.PK), a maker of coal-mining equipment. China is the world's largest coal mining market, and a deal could help Joy Global block (or at least slow) rival Caterpillar (CAT) from gaining further scale in the country.
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  • May 16, 2011, 6:25 AM
    Joy Global (JOYG) to buy LeTourneau Technologies from Rowan Cos. for $1.1B in cash. Joy Global says the deal brings "strong growth prospects for both the mining products and drilling products business segments." (PR)
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Company Description
Joy Global Inc is a manufacturer and servicer of productivity mining equipment for the extraction of coal and other minerals and ores. It manufactures and markets original equipment and parts and perform services for both underground and surface mining.