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Stock Market & Financial Investment News

News Breaks
January 8, 2013
05:44 EDTJOYJoy Global upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Joy Global on expectations coal demand in China will see a revival. Piper said it has increased confidence that FY13 will mark a trough in orders after meeting with Joy and two other companies in China's coal industry. The firm raised its price target for shares to $84 from $63.
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April 11, 2014
16:26 EDTJOYJoy Global acquires certain assets of Mining Technologies International
Joy Global announced that it entered into a definitive agreement to purchase certain assets of Mining Technologies International for $51M Canadian dollars. MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and a world leading supplier of raise bore drilling consumables. The company is acquiring substantially all of the assets associated with MTIís hard rock drilling, loaders, dump trucks, shaft sinking, and raise bore product lines. MTI's fiscal 2013 revenues associated with these product lines were approximately $90M U.S. dollars. Excluding the impact of transaction costs and excess purchase accounting charges, the company expects the transaction to be accretive to earnings in 2015. Completion of the transaction is subject to customary closing conditions and is expected to occur within 90 days.
April 9, 2014
09:33 EDTJOYBofA/Merrill's industrial/mining analysts hold analyst/industry conference call
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