Mining equipment company, Joy Global Inc. (NYSE: JOY) reported on Wednesday that fiscal third quarter net income slipped 5.3% as margin narrowed and sales declined. Still, core earnings and revenue topped Street’s expectation. Shares, however, fell sharply as the company expects some headwinds in coming months. Citing corrections in coal prices (China and Australia), CEO, Mike Sutherlin said to analysts in a conference call, “ (current trends) are unlikely to support annual revenue above $4 billion.” The Company backed its full-year earnings outlook though. Separately, the Company said that its board has approved shares buyback plan worth $1 billion.
Tag: JOY
Major Movers on February 20; TOL, DELL, SINA, CDE, JOY
Shares of Toll Brothers Inc. (NYSE: TOL), a Horsham, Pennsylvania-based company engaged in designing, building, marketing and arranging financing for single-family detached and attached homes in luxury residential commodities, are down sharply in trading today even as the company swung to a profit in its fiscal first quarter.
Continue reading Major Movers on February 20; TOL, DELL, SINA, CDE, JOY
Joy Global Posts Weaker Quarterly Results as Economic Downturn in China Hit Revenue (JOY)
As world’s second largest economy, China grapples with economic slowdown, the demand for steel, iron, coal and several other commodities have contracted leading to fall in demand for mining equipments, said Joy Global Inc. (NYSE: JOY) on Wednesday as the company reported lighter-than-expected fiscal third quarter results.
Major Gainers and Losers on August 29; YELP, ZNGA, JOSB, TFM, FB, JOY, HNZ
Shares of Yelp Inc. (NYSE: YELP), a San Francisco, California-based company connecting people with local businesses, surged in trading today.
Continue reading Major Gainers and Losers on August 29; YELP, ZNGA, JOSB, TFM, FB, JOY, HNZ