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Is Joy Global The Canary In The Coal Mine?

Amid a continued commodity downturn, mining equipment maker Joy Global (NYSE:JOY) cut its outlook and reported fiscal third-quarter results that were worse than analysts expected.

For the full year, Joy Global now sees adjusted EPS of $1.80, down from its prior guidance range of $2.50 to $3 and worse than last year's $3.29. Wall Street had projected 2015 EPS of $2.43.