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Joy Global Inc (JOY.N)

JOY.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Joy Global: Merger deal with Komatsu receives early termination of waiting period under Hart-Scott-Rodino Act
Thursday, 13 Oct 2016 09:00am EDT 

Komatsu Ltd <6301.T>:Joy Global Inc - on October 12, 2016, merger deal with Komatsu received early termination of waiting period under Hart-Scott-Rodino act.  Full Article

Joy Global posts Q3 adjusted earnings per share $0.10
Thursday, 1 Sep 2016 06:34am EDT 

Joy Global Inc : Joy global announces third quarter fiscal 2016 operating results . Q3 adjusted earnings per share $0.10 . Q3 earnings per share $0.00 . Q3 sales $587 million versus I/B/E/S view $605.3 million . Q3 earnings per share view $0.12 -- Thomson Reuters I/B/E/S . Consolidated bookings in Q3 totaled $527 million, a decrease of 17 percent versus Q3 of last year . Backlog at end of Q3 was $916 million, up from $873 million at beginning of fiscal year . Additional restructuring charges of approximately $5 million are expected in Q4 of fiscal 2016 . During Q3 , continued restructuring activities to align workforce, overall cost structure with current, anticipated levels of demand . Due to pending merger transaction with Komatsu America, company will no longer provide quarterly updated annual financial guidance . "outlook remains tepid and financial condition of our customers is challenged" . While recent increase in certain commodity prices is positive, outlook remains tepid,financial condition of our customers is challenged . Due to pending merger with Komatsu America, company will not hold a conference call to discuss quarterly financial results . Says mining industry continues to face many challenges and market conditions are expected to remain weak through 2017 . Says over past quarter, global mining equipment capital spending outlook has worsened.  Full Article

Joy Global declares quarterly dividend of $0.01 per share
Thursday, 1 Sep 2016 06:15am EDT 

Joy Global Inc :Joy Global Inc declares quarterly dividend of $0.01 per share.  Full Article

Joy Global says Komatsu to pay co $150 mln if deal terminated
Thursday, 21 Jul 2016 01:49pm EDT 

Joy Global Inc :If merger terminated, Komatsu to pay co termination fee of $150 million in cash.  Full Article

Joy Global to be acquired by Komatsu in $3.7 billion all-cash transaction
Thursday, 21 Jul 2016 03:55am EDT 

Joy Global : Board unanimously approved merger agreement under which subsidiary of Komatsu Ltd will buy Joy Global in all-cash transaction .Komatsu intends to operate Joy Global as a separate subsidiary of Komatsu.  Full Article

Joy Global to sell Texas steel plate mill to Nucor Corp
Wednesday, 20 Jul 2016 06:20pm EDT 

Joy Global:Joy Global to sell Texas steel plate mill to Nucor Corporation.  Full Article

Joy Global says received subpoena from division of enforcement of U.S. SEC in Q4 of 2014
Wednesday, 29 Jun 2016 12:52pm EDT 

Joy Global Inc: Joy Global Inc says received subpoena from division of enforcement of U.S. SEC in Q4 of 2014 . On June 28, staff notified co that it concluded its investigation and that it does not intend to recommend enforcement action by commission .Joy global inc says subpoena concerned co's 2012 acquisition of International Mining Machinery Holdings Ltd and related accounting matters.  Full Article

Paragon announces partnership between its U.S. unit Voltabox and Joy Global Inc.
Tuesday, 28 Jun 2016 01:00am EDT 

Paragon AG : Opens up new market segment for Voltabox subsidiary via strategic partnership with leading mining equipment and services provider . Exclusive strategic partnership with leading mining equipment and services provider Joy Global Inc. .First deliveries of complex battery systems planned for fiscal year 2017.  Full Article

Joy Global expects pressures on service business to lessen in 2017
Thursday, 2 Jun 2016 12:08pm EDT 

Joy Global Inc : "We expect the third quarter adjusted earnings to be in line with our second quarter results" - conf call . Restructuring actions projected this year are expected to provide carryover cost savings in 2017 of $40 to 50 million - conf call . As U.S. coal market begins to normalize at lower level in 2017, expect pressures on service business to lessen - conf call Further company coverage: [JOY.N] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

Joy Global posts Q2 adj. earnings $0.09/shr from continuing operations
Thursday, 2 Jun 2016 06:15am EDT 

Joy Global Inc : Q2 adjusted earnings per share $0.09 from continuing operations . Q2 sales $602 million versus I/B/E/S view $607.7 million . Joy Global Inc qtrly equipment bookings $167 million, up 12 percent from a year ago . Now expect FY sales excluding items to be at lower end of our previous guidance range of $2.4 billion to $2.6 billion . Joy Global Inc sees FY adjusted earnings per share at lower end of $0.10 to $0.50 . Mining industry continues to face significant headwinds as commodity markets rebalance . FY2016 earnings per share view $0.18, revenue view $2.47 billion -- Thomson Reuters I/B/E/S . Q2 of fiscal 2016 included a net negative impact of $0.25 per share for restructuring charges and a net discrete tax benefit . Joy Global Inc qtrly bookings $681 million, down 9 percent from a year ago . Joy Global Inc qtrly service bookings $514 million, down 14 percent from a year ago . Backlog at end of Q2 was $976 million, up from $873 million at beginning of fiscal year . Mixed economic signals, primarily from China, suggest that there could be a possible near-term improvement in economic output . U.S. coal markets continue to be most challenged end-market for company . Now targeting over $100 million of year-over-year cost reduction in fiscal 2016. . Joy Global announces second quarter fiscal 2016 operating results . Q2 loss per share $0.16 from continuing operations.  Full Article

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BRIEF-Joy Global Q1 adjusted loss per share $0.06

* Joy Global announces first quarter fiscal 2017 operating results