Today’s Top Stock Earnings Surprises (JOYZ, HNZ, BF.B)

Joy Global Inc. (NASDAQ:JOYG) shares rose 1.25% to $57.25 after the company lifted the full year revenue guidance.

During the third quarter the company said it earned $118.5 million, or $1.13 a share, compared with earnings of $124.3 million, or $1.21 a share in the year ago quarter.

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Net sales during the quarter plunged 11%to $850.0 million. Underground mining machinery revenue fell to $510.8 million.

Analysts were looking the company to report earnings of $1.03 a share, on revenue of $877.4 million.

For the Fiscal year 2010, the company raised its earnings range outlook to of $4.10-$4.15 a share, up from its prior view of $3.85-$4.00 a share. It also raised the revenue forecast to $3.35-$3.4 billion, from its prior view of $3.3-$3.4 billion.

Joy Global Inc. is a manufacturer and servicer of mining equipment for the extraction of coal and other minerals and ores. The equipment is used in the mining regions globally to mine coal, copper, iron ore, oil sands, and other minerals.

 H.J. Heinz Company (NYSE:HNZ) shares fell 0.39% to $46.06 after the company reported a sharp jump in quarterly gross margin as higher pricing in emerging markets helped offset promotions needed to attract consumers in North America.

The company said that during fiscal first quarter Gross margin jumped to 36.6% from 35.7% a year ago quarter.

Heinz also confirmed the preliminary earnings data it released on Tuesday. Net income rose to $240.6 million, or 75 cents per share, in its fiscal first quarter July 28 from $221.3 million, or 67 cents per share, a year earlier.

President and Chief Executive William R. Johnson said ahead of the company's annual meeting Tuesday that the company "is off to a good start" as it affirmed its prior earnings estimate for the year while noting consumer spending and the economy remain a challenge. Still Heinz expects to see operating free cash flow of more than $1 billion for the second straight year.

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Brown-Forman Corporation (NYSE:BF.B) fell 8% to $56.50 after the company posted a lower than expected first-quarter earnings 

The company said during the latest quarter profit slid 8% to $111.4 million, or 76 cents a share, from $121.4 million, or 81 cents a share, in the year-ago quarter. Revenue rose 1% to $745 million.

Wall Street analysts were expecting the company to report earnings of 83 cents a share, on revenue of $723.4 million.

Brown-Forman reaffirmed its 2011 outlook earnings of $2.98 a share to $3.38 a share.

Brown-Forman Corporation manufactures, bottles, imports, exports and markets a variety of alcoholic beverage brands. Its principal beverage brands include Jack Daniel’s Tennessee Whiskey, Early Times Kentucky Whisky, Jack Daniel’s.

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