Diamonds and Dogs
8/29/12Dycom Industries Inc. (DY)
Dycom Industries dropped $3.60 today, down 19.07% at $15.28. The engineering company saw its shares plummet after releasing a poor earnings report. Revenue for the company rose 4.7% to $318 million or $0.39 per share. However this missed analysts' estimates of $323.7 million in revenue and earnings per share of $0.41. To make matters worse, Dycom's management announced that revenue would continue downward for the next few quarters. Wall Street analysts were expecting an increase in revenue over the next half of the year. Dycom is trading just above its 52-week low and is another company that has been beat up during their second quarter earnings.
Joy Global Inc. (JOY)
Joy Global led investors on an emotional roller coaster, from despair to joy, finishing the day up 2.56% at $54.43. The maker of equipment and parts for mining saw its shares open the day more than $3.00 lower than yesterday's close after missing on earnings. However, after the open the stock rallied like Rocky Balboa, fighting its way higher. Investors watched as Joy Global climbed around $4.50, and was able to finish the day in positive territory. The positive move was a good sign for the company as it bounced prior to reaching its 52-week low. A great comeback story for Joy Global.
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