It is easy to understand how commodity and resource play investors are feeling nervous these days. The prices for major industrial commodities like coal, iron and copper have certainly come off their highs and ongoing attempts to tamp down inflation in China risks spoiling that story. Certainly the commodity markets are due for a pause, and investors with a few grey hairs probably already know that there are many ups and downs within broader commodity super-cycles. All of that said, while the fattest of the fat times may be in the past for Joy Global (NYSE:JOY) and the stock may have rougher sailing in the short term, the overall mining infrastructure play is not over yet.
Not Enough Joy to End the Year
It seems pretty safe to bet that many analyst write-ups on Joy Global's quarter will focus on the company missing estimates, even though the misses were modest. On the top line, the company reported 27% overall growth and nearly 18% organic growth, missing the average estimate by a trivial amount. Growth was once again well-balanced, with surface equipment sales rising almost 21% and underground sales rising about 15%.
To read more, please follow this link:
http://stocks.investopedia.com/stock-analysis/2011/Slower-Doesnt-Mean-Stop-For-Joy-Global-JOY-CAT-TWI-ETN-ITW-BRK-A-KMTUY.PK1219.aspx
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