2 Popular Stocks Investors Dumped After Earnings
Joy Global Inc. (NASDAQ:JOY) reported its results for the most recent quarter. Net income for the company rose 18% to $172.3 million ($1.61 per share) from $146.3 million or $1.39 a share a year earlier. Revenue rose 27% to $1.34 billion from $1.05 billion a year earlier. JOY fell short of the mean analyst estimate of $1.85 per share. Analysts were expecting revenue of $1.35 billion.
“Our fourth quarter was a good finish to an exceptional year,” said Mike Sutherlin, President and Chief Executive Officer. “Bookings were strong as our customers continue to move ahead with mine expansion projects. Sales were up almost 18 percent from last year and exceptional operating leverage delivered margins of almost 23 percent, excluding the impact of acquisition related activities.”
Competitors to Watch: Bucyrus Intl., Inc. (NASDAQ:BUCY), Caterpillar (NYSE:CAT), Deere & Company (NYSE:DE), General Electric Company (NYSE:GE), Astec Industries, Inc. (NASDAQ:ASTE), Columbus McKinnon Corp. (NASDAQ:CMCO), Manitowoc Company, Inc. (NYSE:MTW), Cummins Inc. (NYSE:CMI), CNH Global N.V. (NYSE:CNH), Navistar Intl. Corp. (NYSE:NAV), Terex Corporation (NYSE:TEX), and Lindsay Corporation (NYSE:LNN).
VeriFone Systems Inc. (NYSE:PAY) reported net income above Wall Street’s expectations for the fourth quarter. Net income for VeriFone Systems Inc. rose to $198.8 million ($1.84 per share) vs. $49.4 million (55 cents per share) in the same quarter a year earlier. This is a more than fourfold rise from the year earlier quarter. Revenue rose 48.8% to $410.7 million from the year earlier quarter. PAY reported adjusted net income of 53 cents per share. By that measure, the company beat the mean estimate of 44 cents per share. Analysts were expecting revenue of $406.4 million.
“We finished 2011 with another year of record revenues and record profit, and are now midway through our multi-year transformation to the world’s leading services-driven payment technology provider,” said Douglas G. Bergeron, Chief Executive Officer. “Looking to 2012, we are very encouraged by the opportunities at hand throughout our growing, global marketplace.”
Competitors to Watch: Hypercom Corporation (NYSE:HYC), NCR Corporation (NYSE:NCR), Radiant Systems, Inc. (NASDAQ:RADS), MICROS Systems, Inc. (NASDAQ:MCRS), Global Payment Tech., Inc. (GPTX), USA Technologies, Inc. (NASDAQ:USAT), PAR Technology Corporation (NYSE:PAR), Pitney Bowes Inc. (NYSE:PBI), and ZUK Elzab SA (ELZ).