Is Joy Global Mining Into a Bull Market?
Joy Global could be mining its way into a bull market, Cramer suggested Thursday.
The Milwaukee-based company makes mining equipment and is widely thought of as a cyclical business, Cramer said. In other words, it's hostage to the strength of economies around the world. As a result, the stock has been hammered lately.
But on Thursday, Joy Global reported a strong quarter. It said the slowdown, temporary or not, does not seem to impact its earnings. It said clients could cancel orders, but they're not. Meanwhile, demand for energy in emerging markets, for instance, is very strong. Joy Global is benefiting from that demand, as the company makes equipment that's used for mining coal, copper and iron ore.
Cramer thinks Joy Global has a great long-term story, but to learn more about its future prospects, he spoke with CEO Mike Sutherlin. Watch the video to see the full interview.
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