This morning, Joy Global (NYSE:JOY) reported fiscal first quarter earnings of $26.8 million, or 25 cents per share, as revenue fell to $1.18 billion. Excluding certain one-time items, the company would have earned $1.11 per share, a penny short of analyst estimates. The mining equipment company also noted that earnings for fiscal year 2014 would be lighter than many anticipated as lower commodity prices have reduced the number of orders from mining companies. Joy Global said it expects to earn between $3.00 and $3.50 per share with revenue in the range of $3.6 billion to $3.8 billion. On the news, shares of Joy Global were headed lower, off more than 5% so far today.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.