Joy Global Inc

Of 19 analysts surveyed by Bloomberg, five gave Joy Global a “buy” rating, while 11 gave a “hold” rating, three gave “sell” ratings.

Of the 17 analysts surveyed by Bloomberg, only five issued “buy” recommendations for Joy Global, while 11 issued “holds,” and one issued a “sell.”

Joy Global’s stock rose by 19.7% from the opening price of $23.5 and closed at $28.2 on July 21, after Komatsu announced that it will acquire the company.

From its acquisition of Joy Global, Komatsu expects to double the size of its manufacturing equipment business and to strengthen its core mining business.

Mining equipment supply and services to US coal mining companies accounted for 76% of Joy Global’s US revenue.

Joy Global’s (JOY) stock has been on a downward trend since January 2015, when the stock started falling due to the oversupply in commodities markets.

Joy Global’s (JOY) fiscal 1Q16 revenues came in at $526 million, which represents a 25% decline over fiscal 1Q15.

Joy Global’s (JOY) fiscal 2Q16 revenues came in at $602 million, which was below the analyst estimate of $606 million.

Komatsu is the largest manufacturer of construction and mining equipment in Japan. Its the second-largest globally, after US-based Caterpillar (CAT).

Komatsu, Japan-based construction equipment maker, will pay $28.30 per share in cash to acquire Milwaukee-based Joy Global. The deal is worth ~$3.7 billion.

Caterpillar, the world’s largest manufacturer of construction and mining equipment, will declare its 3Q16 earnings before the market opens on October 25.

In fiscal 2015, JOY paid around $78 million in dividends to shareholders, but on December 16, 2015, JOY announced a cut in its quarterly dividend.

As of April 29, 2016, Joy Global’s had more than $1.3 billion in debt (long-term debt plus short-term debt), compared to its equity of nearly $1.4 billion.

Caterpillar logged four consecutive quarters of operating losses in the Resource Industries segment—it houses the mining equipment business.

Caterpillar’s (CAT) sales in the Resource Industries segment, which houses the Mining Equipment business, fell by 29% year-over-year in 2Q16 to $1.4 billion.

Despite the operating loss of $9.8 million it saw in fiscal 2Q16, Joy Global reported cash generation from continuing operations totaling $44 million.

The global underground mining industry is expected to grow at a compound annual growth rate of approximately 7% from 2015 to 2019.

Joy Global operates in two business segments, namely its Underground Mining Machinery and Surface Mining Equipment segments.

The SPDR S&P 500 ETF (SPY) and the Direxion Daily S&P500 Bull 3X ETF (SPXL) fell by 2.4% and 7.1%, respectively, on Thursday, January 7, 2016.

The stocks hardly traded at prices that crossed their moving average values. The only exception was Fastenal. It traded at $40.08.

October 26 saw the release of two important economic indicators, namely, the results of the Dallas Fed manufacturing survey and the new home sales report.

SPY’s top stocks were Avon Products (AVP), Denbury Resources (DNR), and Joy Global (JOY). These stocks rose by 14%, 12.2%, and 8.4% on October 8.

Manitowoc’s crane business is one of the world’s largest providers of lifting equipment for the global construction industry.

For 3Q14, net sales in Manitowoc’s crane segment were $569.2 million, 6.7% down compared to $610.2 million in the third quarter of 2013.