The Rising Influence of Rising Affluence

[DewDiligence]

JOY was clocked for an 11% hit on Wednesday based on cautious comments on the FY4Q11 CC that I would not even characterize as bearish but were interpreted as such, evidently:

http://www.reuters.com/article/2011/12/14/joyglobal-idUSL3E7NE58920111214?feedType=RSS&feedName=industrialsSector&rpc=43

The Milwaukee-based company forecast 2012 earnings of $7.00-$7.40 a share and revenue of $5.3-$5.5 billion. Analysts were expecting earnings of $7.19 a share and revenue of $5.36 billion, according to Thomson Reuters I/B/E/S.

In other words, JOY gave FY2012 guidance that beat the Street consensus. From the same newswire:

Joy Global's outlook indicates it expects revenue to grow by about 23 percent in 2012, slower than the 25 percent growth in 2011.

Go figure.