Mining equipment company, Joy Global Inc. (NYSE: JOY) reported on Wednesday that fiscal third quarter net income slipped 5.3% as margin narrowed and sales declined. Still, core earnings and revenue topped Street’s expectation. Shares, however, fell sharply as the company expects some headwinds in coming months. Citing corrections in coal prices (China and Australia), CEO, [...]
Shares of Toll Brothers Inc. (NYSE: TOL), a Horsham, Pennsylvania-based company engaged in designing, building, marketing and arranging financing for single-family detached and attached homes in luxury residential commodities, are down sharply in trading today even as the company swung to a profit in its fiscal first quarter.
As world’s second largest economy, China grapples with economic slowdown, the demand for steel, iron, coal and several other commodities have contracted leading to fall in demand for mining equipments, said Joy Global Inc. (NYSE: JOY) on Wednesday as the company reported lighter-than-expected fiscal third quarter results.