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China, coal glut hits Joy Global

The slowing economy in China and a glut of coal pulled the global mining equipment supplier's Q2 revenue down 12% to $1.36 bil. EPS fell 17% to $1.69. Both topped expectations. But Joy Global (JOY) lowered full-year EPS guidance to a range of $5.60-$5.80. Analysts expect $6.15. It shaved revenue forecasts to a range of of $4.9 bil-$5 bil, with analysts expecting $5.06 bil. Shares rose 1% to 55.61 .