Joy – The Bull Of American Mining Stock Markets-ajviewer

Business Joy Global Inc (NYSE:JOY) is a leading manufacturer of mining and farming equipment. The stock has been selling off over the past two trading sessions. This morning, JOY stock is declining lower by $2.00 to $90.70 a share. When a market leader such as JOY stock declines it could be telling us that the mining business is beginning to slow down. BHP Billiton Ltd (NYSE:BHP) is also trading lower today by $1.15 to $80.62 a share. Earlier today. BHP reported earnings and guided slightly lower in 2012. It is important to note that mining and mining equipment related companies have lead the markets higher recently. Shares of Freeport-McMoRan Copper & Gold Inc. (US:fcx) and mining equipment maker Joy Global Inc. [s:joy] were leading an opening rally in mining stocks Tuesday, each advancing about 4.3%. The move, which landed the companies among the top percentage gainers in the S&P 500 (US:spx) was supported by Alcoa"s (US:aa) brief 4% rise at the open to $9.85 a share as investors reacted to the company"s fourth-quarter results. Alcoa posted a 3-cent per-share loss after the closing bell Monday but predicted a 7% rise in global aluminum demand in 2012 in the face of dwindling supplies. Alcoa shares were last up 1.3% at $9.55. Mining equipment maker Joy Global Inc. said Thursday its second-quarter net income more than doubled, helped by demand for aftermarket services and parts, but it also said production problems will limit deliveries to new customers. Joy Global , one of the largest manufacturers of surface and underground mining equipment, said net income rose to $82.9 million, or 66 cents a share, from $38.8 million, or 31 cents a share, a year earlier. The company said its results were helped by a $3 million pretax gain on the sale of assets and by a $6.3 million, or 5 cents a share, gain from a lower tax rate, down to 29% from 37%. Joy Global (US:joy) shares were the second biggest percentage decliner on the S&P 500 early Wednesday, dropping 8% to $77.82. The mining equipment maker posted a fiscal fourth quarter profit of $1.82 a share, 6 cents short of what analysts had expected, according to FactSet. Joy Global, which sells its equipment to customers in China and India, said it expects to "grow at a more moderate rate in 2012." The company said it would spend $200 million on capital expenditures, $50 million more than it had initially budgeted. For fiscal 2012, Joy Global issued a wide ranging forecast for earnings of $7 to $7.40 a share. Analysts are looking for $7.19 a share. Joy Global said some of the shift in its output is a result of startup and quality problems with new suppliers. A 24% increase in aftermarket orders takes precedence "in terms of serving customers" needs, and the combination of these factors continues to limit the company"s ability to meet all scheduled original equipment deliveries."As the professional manufacturer of complete sets of mining machinery, such as Impact breaker , Ball mill , Cement making machine , Henan Hongxing is always doing the best in products and service.Drum dryer: About the Author: 相关的主题文章: