Will These 3 Companies Affect Markets Today?

Joy Global Inc. (NASDAQ:JOYG): Released financial details in its second quarter earnings today, reporting net income above Wall Street’s expectations. Shares were up over 5% by market close today. Net income for the machine tools and accessories company rose to $162 million ($1.52/share) vs. $120.4 million ($1.15/share) in the same quarter a year earlier. A rise of 34.5% from the year earlier quarter. Joy Global outperformed analyst estimates, beat the mean mark of $1.35/share. Estimates ranged from $1.25 per share to $1.53 per share. It beat the average revenue estimate of $1.03 billion. The company has now seen net income rise in three-straight quarters. In the first quarter, net income rose 34.1% and in the fourth quarter of the last fiscal year, the figure rose 18%.

Mike Sutherlin, President and Chief Executive Officer had this to say in regard to first quarter results,”We had another outstanding quarter, reaching record levels of performance in order bookings, shipments, operating profit margins and earnings per share. The balance in our performance across this range of metrics is more satisfying than the records, and it demonstrates our drive to improve all areas of our business through our Operational Excellence programs. In addition, we continue to see solid fundamentals based on the capital investment decisions of our customers.” Look out for similar companies: Bucyrus Intl., Inc. (NASDAQ:BUCY), Caterpillar (NYSE:CAT), and Deere & Company (NYSE:DE).

VeriFone Systems, Inc. (NYSE:PAY): reported net income above Wall Street’s expectations for the second quarter. The company designs, markets, and services transaction automation systems that enable secure electronic payments among consumers, merchants, and financial institutions. VeriFone’s second quarter earnings reported adjusted net income of of 46 cents/share. By that measure, the company beat the mean estimate of 43 cents/share. Estimates ranged from 42 cents per share to 45 cents per share. It beat the average revenue estimate of $285.4 million. The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 23.7%, with the biggest boost coming in the first quarter when revenue rose 27% from the year earlier quarter.

Douglas G. Bergeron, Chief Executive Office of VeriFone commented, “We are very pleased with VeriFone’s second quarter results. We have become the critical enablers of payment security, payment-enabled media, and smartphone-based payment at the point of sale, and together with our industry partners we are reshaping the future of payments.” Competitors to keep an eye on: Hypercom Corporation (NYSE:HYC), NCR Corporation (NYSE:NCR), and Radiant Systems, Inc. (NASDAQ:RADS).

The Fresh Market (NASDAQ:TFM) released first quarter earnings today, with profits dropping from last year. The chain retail store operator, which offers fresh premium perishable food items in the southeastern, midwestern and mid-Atlantic states, beat mean analysts earnings and revenue estimates banking $264 million in total revenues. Net income for the grocery store fell to $13.5 million (28 cents/share) vs. $19.9 million (41 cents/share) a year earlier. A decline of 11.9% from the year earlier quarter.  Shares took a big hit in trading today, with TFM stock shedding some 12% in price following the earnings release.

According to CEO Craig Carlock, Fresh Market stockowners still have reason to be optimistic, “We continue to be pleased with our business performance, particularly our ability to deliver strong earnings growth on top of a robust first quarter last year. We are encouraged by the fact that our business continued to expand and performed consistently and steadily in the first quarter, and we remain confident in our EPS guidance of $1.01 to $1.05 for the year.” Expect stiff competition from these firms: Whole Foods Market, Inc. (NASDAQ:WFM), Safeway Inc. (NYSE:SWY), and The Kroger Co. (NYSE:KR).

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