Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why Are These Stocks Trending Today?

Shares of commodity capital equipment maker Joy Global Inc. (NYSE:JOY) are trending today after the company reported its latest earnings results. For its fourth fiscal quarter, Joy Global reported an EPS of $0.43 on revenue of $865.57 million, exceeding analyst earnings estimates by $0.01 per share and revenue expectations by $74.43 million. Because of the challenging commodity climate, quarterly bookings declined by 21% year-over-year to $617 million and the company cut its quarterly dividend to $0.01 per share from the previous $0.20 per share. For the full year, Joy Global Inc. (NYSE:JOY) earned $1.95 per share on net sales of $3.172 billion. Management expects 2016 adjusted earnings per share to be $0.10-$0.50 on revenue of $2.4-$2.6 billion.

The M&A rumors turned out to be true, as Heartland Payment Systems, Inc. (NYSE:HPY) and Global Payments Inc (NYSE:GPN) are indeed merging. Bloomberg previously published an article stating that Global Payments Inc (NYSE:GPN) was in talks to purchase Heartland Payment Systems, Inc. (NYSE:HPY) as card processors merge to capture more growth from online and mobile shopping. Under terms of the merger, Heartland shareholders will recieve $53.28 in cash and 0.6687 shares of Global Payments for each share of Heartland they own. Global Payments management believes the deal will yield $50 million in annual synergies in fiscal year 2017 and $125 million in annual synergies afterwards and be accretive to EPS. Heartland shares are up 11% while Global Payments shares are down 7% in morning trading.


Follow Joy Global Inc (NYSE:JOY)
Trade (NYSE:JOY) Now!

Follow Global Payments Inc (NYSE:GPN)
Trade (NYSE:GPN) Now!

Disclosure: none

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.