Joy Global sees encouraging signs but not expecting 'near term impact' The company CEO sees encouraging signs in the market but the impact of the turn in conditions will not impact the company in the 'near term.' "I think that we are seeing some encouraging but early signs of market improvement; however.. the impact on us is more likely to be on the horizon and around the corner so we don't expect it to have the near term impact and there for we'll continue to focus on reducing our cost and streamlining our business and that's going to allow us to respond better to those upside opportunities."
Joy Global spikes higher, levels to watch The shares have spiked in the last 5 minutes, trading up over 2.2% to $39.78. At that price next resistance is at $41.66, the 50-day moving average. The 50-day is the downtrend resistance line on the 1-year chart. The spike is being attributed to unconfirmed takeover speculation.
Rumor: Joy Global strength attributed to takeover speculation The recent move higher in shares of Joy Global is being attributed to renewed takeover speculation in the name. The stock is up 1.5% to $39.44.