Joy Global, due to short covering on the better than expected service orders and surface margins finished up 7% yesterday. There is not much sentiment on the stock as can be seen by the very high short interest thus any sort of positive news causes shares to rise. The biggest surprise to analysts and experts was the surface mining equipment margin of 19%.
Despite challenges in the operating environment the company seems to be operating well and seems to be on track to hit its cost-cutting targets from prior restructuring efforts. According to experts, Metallurgical coal and iron are one of the weakest commodities and many of the smaller miners are at a break-even or unprofitable at current pricing levels.