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									Zacks Analyst Blog Highlights: Joy Global Inc., Big Lots
Inc., EQT Corp., JAKKS Pacific Inc. and World Wrestling
Entertainment
Thursday March 04, 2010 - 17:00 PM EST

Source: Business Wire News Releases
Author: Zacks.com


Click here to read the original story


Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research
analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently
featured in the blog include: Joy Global Inc. (Nasdaq: JOYG), Big Lots Inc. (NYSE: BIG), EQT Corp.
(NYSE: EQT), JAKKS Pacific Inc. (Nasdaq: JAKK) and World Wrestling Entertainment (NYSE: WWE).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter:
http://at.zacks.com/?id=4579

Here are highlights from Wednesday's Analyst Blog:

Joy Global Surpasses Estimates

Joy Global Inc. (Nasdaq: JOYG) posted an EPS of 73 cents for the first quarter of 2010, surpassing the Zacks
Consensus Estimate of 64 cents but below the year-ago earnings of 83 cents. The better-than-expected
earnings were primarily driven by improved commodities market and better orders during the quarter.

During the quarter, the company merged its operating Continental Crushing and Conveying segment into Joy
Mining Machinery and P&H Mining Equipment segment. The results from the prior year have been restated
to reflect this integration. Full results for crushing and conveying products are now reported with Joy Global,
while the results for sales into the surface market are additionally reported with P&H.

Revenues declined 3% year on year to $729 million in the quarter, as a result of a 12% decline in the
Underground Mining Machinery (UMM) segment offset by an 8% increase in the Surface Mining Equipment
(SME) segment. Original equipment sales decreased 10%, driven by an 18% decline in the UMM segment
and flat sales results in the SME segment.

Aftermarket sales improved 2% in the quarter. Domestic sales fell 17%, whereas international sales grew 14%
during the quarter.

Big Lots Outperforms

Big Lots Inc. (NYSE: BIG) recently posted stronger-than-expected fourth-quarter 2009 results on the heels of
better sales, improved inventory control and effective cost management. The quarterly earnings of $1.31 per
share outdid the Zacks Consensus Estimate of $1.28, and soared 31% from $1.00 delivered in the prior-year
quarter.

The better-than-expected results prompted management to provide three years' outlook. The retailer now
expects earnings per share to grow at a compounded annual growth rate of 12% to 16% from fiscal 2010 to
fiscal 2012 based on annual sales growth rate of 5% to 7% and annual comparable-store sales increase of 2%
to 3%.

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Big Lots also forecasted first-quarter 2010 earnings between 60 cents and 65 cents a share, and fiscal year
2010 earnings in the range of $2.65 to $2.75.

EQT Buys Marcellus Assets

EQT Corp. (NYSE: EQT) has decided to purchase approximately 58,000 net acres in the Marcellus Shale
from a group of private operators and landowners in a stock and cash deal. The acreage is located primarily in
Cameron, Clearfield, Elk and Jefferson counties in Pennsylvania.

The total consideration for this deal is about $280 million. Of this, 90% ($252 million) will be paid through
EQT shares and 10% ($28 million) will be paid in cash. The acquired properties also include a 200 mile
gathering system and approximately 100 producing vertical wells.

Following the completion of the deal, which is expected on or before Apr 30, EQT will have more than
500,000 net acres in this play. Most importantly, about 88% of the acquired acreage will be held in fee or by
production from existing vertical wells.

We view this transaction as a prudent step by the company as EQT already has extensive midstream assets
and firm contracts to gather and transport natural gas to the lucrative eastern markets.

JAKKS Down a Cent, Outlook Weak

JAKKS Pacific Inc. (Nasdaq: JAKK) reported fourth quarter earnings of 22 cents per share, missing the
Zacks Consensus Estimate by a penny. The company had earned 55 cents in the year-ago quarter.

Results were mostly in line with our expectations. While the company experienced a decline in revenue, the
results were helped by cost cuts.

The company reported a 26% year-over-year decrease in revenue to $198.8 million. Though sales were driven
by Halloween costumes, pretend play products, electronic toys and action figures, the company experienced
declines in some of the products based on World Wrestling Entertainment (NYSE: WWE), Hannah
Montana, Neopets and others.

Including certain charges and other items, the company reported a net loss of $1.9 million or 7 cents per share,
down from a profit of $16.9 million or 55 cents per share in the prior-year period.

For full year 2009, JAKKS reported a loss of $385.5 million or $14.02 per share, down from a profit of $76.1
million or $2.42 per share in the previous year. Excluding impairment charges and other items, the company
earned $30.2 million or $1.03 per share in 2009, compared to earnings of $66.6 million or $2.13 per share in
the prior year. Revenues were down 11% from the prior year to $803.7 million.

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