Investors Not Happy With Joy Global Q2 Report

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Joy Global

shares are trading lower by $0.30 at 38.63 in Thursday's session. Despite a Q2 EPS ($0.59 vs. Est. $0.58) and revenue beat (810.5M vs. Est. 809.9M) the issue has not maintain its gain from earlier in the session. Within the first thirty minutes of the session, it flirted with the $40 level, reaching $39.98 before reversing course. On the decline it found support just below Monday's low ($38.41), reaching $38.39 before attempting to rebound. At this time, the rebound has gone no farther than $38.76. Joy Global has been real underperformer this year, falling from its year-end close ($46.52) or 17 percent compared with the S&P 500' s gain of 2 percent.