A Weak Coal Landscape Gives Joy Global A Joyless Outlook

Joy Global, a company that manufactures and services mining equipment for coal mining, reported weaker-than-expected third quarter earnings results Thursday and blamed the top- and bottom-line misses on a struggling thermal coal landscape. And with an oversupply of coal that Joy says could last well into next year, the company is also lowering its full-year forecast -- even as some analysts say that now is the time to be bullish on thermal coal.