Could go back above 57 today... IMHO
not a lot of news in the sector other than 10K that came out today that management said coal and natural gas markets look positive going forward
I think you're a bit hard on management, considering the famine going on in their niche market right now. This is the kind of long, brutal downturn that bankrupted the company when it was called Harnishfeger in the late '90s. Any group of fools can manage when business is booming, but to steer this ship through the Sahara and still pull profit is pretty strong, imo. It's true, too, that with all this comes volatility, and there have been some misses, but they've always been conservative and trustworthy in the well over 10 years I've watched them.
agree if you can believe what they say will come to fruition? so far nothing but disappointment over the past few quarters. my opinion
don't be suckered in. bottom line, they continue to miss targets and the business continue to struggle. even though there appears to be spikes periodically in the stock price, keep in mind, there appears to be no future growth insight for the business as it was once known. cost reduction measures is a survival strategy in my opinion. no rush to get in at this price. best of success to you.
I don't think we'll see $49 unless there is a severe market selloff. Guidance was what market
was looking for and they got it.
JOY's guidance is irrelevant. They'll miss them like the miss all their estimates. Why not raise guidance? It's meaningless. The stock should be down $4 not up. Hah. It'll be down on the day. Why pay a multiple for growth when there is none??? This isn't a growth story, and it sure ain't a value play. It's going below $50 very shortly.
Sentiment: Strong Sell
Been enjoying this little run since the beginning of the month, but unfortunately, it has approached overbought territory and came down yesterday and low vol today. I'm patiently waiting on some sector rotation back to us :)
China and India are Importing Coal at a record level. Imports are hitting all time High !! All indications point to rapid Increase of Coal imports in both countries. Buy JOY and CAT in this down cycle and sell in their rebound.
Sentiment: Strong Buy
agree. if there is anything positive, it is that earnings will be flat for awhile. nothing to write home about here. I feel there is more of a chance for new low versus a return to the day of the $60's anytime soon.
exactly. their most recent report was nothing but bad news on how they were going to cut cost to curb the decline of revenues due to the poor business envrionment. in my opinion, this may fall below $50 soon. management did not seem to be too positive about the future other than they are trying to weather the storm. it was more a cautious stance and a time will tell scenario.