Joy Global (JOYG) is a play on global economic growth with a decent dividend yield.

Company Description

Joy Global is a pure play on the global mining sector. It is a leader in manufacturing, servicing, and distributing equipment for underground mining through Joy Mining Machinery and surface mining through P&H Mining Equipment. Joy Global's products are used primarily in the extraction of underground coal. Coal mining accounts for roughly 70% of Joy Global's annual revenues.

Emerging Markets Driving Growth

Much of Joy Global's growth will come from China, India, and other emerging markets. That's because the demand for mined commodities is dominated by strong imports from emerging markets.

The demand is being driven by infrastructure build outs and the growing demand for electricity. China announced that it will increase its thermal coal imports to ease supply problems and address power shortages. Also, India's coal imports could grow 20% in 2010 and

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• Bank of America (NYSE:BAC) upgraded Dell (NASDAQ:DELL) to "buy" from "neutral," with the price target raised to $18 from $16.50

• Adobe (NASDAQ:ADBE) was upgraded by analysts at Credit Suisse (NYSE:CS) from "neutral" to "outperform," with the price target raised to $39.50 from $35

• Peabody Energy (NYSE:BTU) was raised by analysts at JP Morgan (NYSE:JPM) to "overweight" from "neutral" with a price target of $50, while Massey Energy (NYSE:MEE) was cut to "neutral" from "overweight" with a $43 price target

• RW Baird upgraded Air Products (NYSE:APD) to "outperform" from "neutral," with an $89 price target

• Citigroup (NYSE:C) was reinstated by Goldman Sachs (NYSE:GS) at a "neutral" rating and a price target of $3.50

• Goldman Sachs (NYSE:GS) maintained its "buy" recommendation on Baidu (NASDAQ:BIDU) with its price target raised to $575 from $550

• Bank of America (NYSE:BAC) upgraded Tiffany (NYSE:TIF) to "buy" from "neutral" with a price target of $42

• ArcelorMittal (NYSE:MT) the world's largest steelmaker, reported a fourth-quarter

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Peabody Energy Corporation (BTU) reported fourth-quarter and full-year 2009 earnings of 43 cents and $1.92 per share, respectively, beating the Zacks Consensus Estimate of 30 cents and $1.78. However, the quarterly and yearly results were down 53% and 43% from the respective year-ago earnings of 91 cents and $3.36 per share.

Peabody’s revenues declined to $1.55 billion in the quarter from $1.89 billion a year ago. The company’s revenue for 2009 declined 8% to $6.01 billion from $6.56 billion in 2008, led by an 11% rise in U.S. revenues per ton. The company’s second half 2009 revenues rose $430 million over the first half, led by increased metallurgical coal sales to China and other Asian nations.

The company’s total sales volumes in the quarter were 61.2 million tons, down from 69.3 million tons a year ago. For the full year, Peabody sold 243.6 million tons compared to 255.0 million tons in

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For Immediate Release

Chicago, IL – October 16, 2009 – Zacks Equity Research highlights Semtech Corp. (SMTC) as the Bull of the Day and Washington Federal (WFSL) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Bank of America (BAC), Hasbro (HAS) and Peabody Energy (BTU).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2676

Here is a synopsis of all five stocks:

Bull of the Day:

Semtech Corp. (SMTC) is a fabless supplier of analog and mixed-signal semiconductor devices. Management has been diversifying the product portfolio, introducing new high-margin products and broadening the customer base.

July quarter results exceeded the consensus on both the top and bottom lines. Forward guidance is for 6-10% revenue increase in the October quarter.

Both revenue growth and margin expansion are expected to return in the second half of fiscal

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New claims for unemployment insurance fell by 10,000 to 514,000, the lowest level since January.  The four-week average of new claims fell by 9,000 to 531,500.  The four-week average is now 127,250 below the peak set back in April. Both the size of the decline and the time since the peak are powerful arguments that we have seen the high for the cycle. This is good news and more evidence that the recession is indeed over. However, the level is still very high and indicates that the economy is still, on balance, dropping jobs. We need to see the number fall well below the 400,000 level to indicate that job growth has turned positive, and far lower than that to meet the needs of a growing population. As the graph below (from http://www.calculatedriskblog.com/) shows in the last two recessions, new claims initally came well ...

Missouri-based Peabody Energy (BTU) is the world’s largest private sector coal mining company, owning majority interests in more than 30 mines in the U.S. and Australia. The company enjoys strong leverage to emerging Asian markets via its Australian operations. Of late, it has set up a new office in Singapore, which will serve as the hub for its trading and brokerage activities in Southeast Asia. This will further strengthen Peabody’s access to high-growth seaborne coal markets in the region, especially China and India, which are expected to be the demand drivers in both the near and long terms. Coal is assumed to be the fastest growing fuel over the next 20 years and China and India will constitute over 50% of that demand growth. Peabody intends to cash on the opportunity leveraging its global platform and low-cost operating base. The opening of a new trading office ...

China has an environmental problem which the government has been aware of for years. Polluters have been able to dump massive amounts of toxic wastes into China’s air and water for many years with no repercussions because the mandate from Beijing was for economic growth at all costs.

But that is all changing. China now has an environmental movement among its people which is in its infancy, but growing quickly. The interesting facet of China’s nascent environmental movement is that the central government in Beijing is actually listening to the environmentalists, at least to a certain extent. They are cracking down on some of the worst polluters and shutting them down.

Beginning in late 2008, Beijing began a crackdown on numerous illegal, dangerous coal mines which also happened to be the biggest polluting mines. Many of these operations have been shut down permanently.

Many investors may think to themselves – so what?

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