What's Ahead Thursday: Can Joy Global Dig Up Strong Earnings?
In 'What's Ahead on Wall Street' for Thursday June 2, there are three major companies showing investors how they performed in the latest quarter. Before the opening bell, Joy Global (JOY) and Five Below (FIVE) - Get Report will report results, followed by Ambarella (AMBA) - Get Report in the afternoon. When Joy Global takes the spotlight, Wall Street expects earnings to be flat on revenue of over $600 million. Coal production for 2016 is expected to fall by almost 150 million tons from the same period last year. As a result, demand for mining equipment will likely be soft this year. Wall Street analysts believe these headwinds could trigger a drop in both the top and bottom line for the recent quarter. On the economic front, ADP employment data is out in the morning. Shortly thereafter, we have jobless claims and the weekly oil inventory data. TheStreet's U-Jin Lee reports from New York.
