New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 11, 2013
12:52 EDTAAUKY, VALE, CAT, JPYJoy Global sinks after profits, guidance miss expectations
Shares of mining equipment maker Joy Global (JOY) are retreating after the company's fourth quarter profits were below expectations and it provided lower than expected 2014 earnings guidance. WHAT'S NEW: Joy Global reported fourth quarter earnings per share of $1.11, excluding certain items, compared with analysts' consensus estimate of $1.12. For 2014, Joy Global predicted that its earnings per share, excluding certain items, would be $3-$3.50, versus analysts' consensus estimate of $3.68. Moreover, the company predicted that its 2014 revenue would be $3.6 billion-$3.8 billion, versus the consensus estimate of $3.8B. Joy Global said it would seek to reduce its costs going forward, since it believes that there are only a limited number of new projects available that could boost its 2014 results. During its earnings conference call, Joy Global suggested that commodities markets have become oversupplied, indicating that the correction in commodities is likely to continue. PRICE ACTION: In early afternoon trading, Joy Global (JOY) fell $3.65, or 6.5%, to $52.60. Caterpillar (CAT), which also makes mining equipment, gave back 1.3% to $85.30. Also falling were shares of large mining companies, with BHP Billiton (BHP) falling 2% to $65.45, Vale (VALE) dropping 2% to $15, Rio Tinto (RIO) sliding 1.9% to $52.30, and Anglo American (AAUKY) giving back 2.3% to $10.53.
News For JPY;CAT;VALE;AAUKY From The Last 14 Days
Check below for free stories on JPY;CAT;VALE;AAUKY the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 13, 2014
16:12 EDTAAUKYAnglo American pursues compensation from Venezueala, Reuters says
Anglo American is pursuing compensation from Venezuela over the 2012 cancellation of mining concessions by late president Hugo Chavez's government, says Reuters. Reference Link
April 10, 2014
07:26 EDTVALECommittee recommends Vale be stripped of Simandou license, WSJ says
Subscribe for More Information
April 9, 2014
09:33 EDTCATBofA/Merrill's industrial/mining analysts hold analyst/industry conference call
Subscribe for More Information
April 6, 2014
18:07 EDTCATCaterpillar likely to face more IRS pressure, WSJ says
Subscribe for More Information
April 4, 2014
06:08 EDTVALEVale implied volatility of 28 at lower end of index mean range
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use