When the global economic expansion hits take-off stage, it will most likely be led by emerging market nations, who are building-out their infrastructure networks and using more energy on a per capita basis, yearly. And that's good news for mining equipment companies, which is why I'm Reiterating my Buy rating for Joy Global (NASDAQ: JOYG), first recommended on June 15, 2009 at a price of $38.05.

If you bought manufacturer and servicer of mining equipment company Joy Global then, you're up about 26%. If you didn't, this may be the last time to establish a position and earn an outsized gain with JOYG during this economic cycle.

Summer is winding down and so is another earnings season. Most of the S&P 500 have reported results for the past quarter, but there are still a few things of note coming up this week.

In its second quarter, Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA), one of the largest entertainment media companies in China, announced plans for an IPO for its Shanda Games business and bought a majority stake in music producer and distributor.

Joy Global appears to be turning the corner, hence a Buy rating has been generated here, with a tight Sell/Stop Loss.

Institutional investors have recently bid-up shares on the thesis that the global recession is bottoming, which would mean good things for mining equipment supplier Joy Global (Nasdaq: JOYB).

Much of the attention this week will no doubt be on how the impending General Motors (NYSE: GM) bankruptcy will shake out, as well as the usual economic concerns: Has the housing market bottomed? Will oil prices keep rising? Is the employment situation getting any better? And so on (see highlights of the economic calendar below).

What probably won't get much attention are quarterly earnings, as the earnings season for this quarter winds down. But there are a few reports that analysts surveyed by Thomson Reuters have high hopes for.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Adobe Systems Inc. (NASDAQ: ADBE) posted strong Q4 and full-year results, but with flat Q4 revenues.
• Best Buy Inc. (NYSE: BBY) beat Q3 expectations though earnings tumbled, and shares rose about 18%.
• Carnival Corp. (NYSE: CCL) announced that it had lowered its full-year earnings and revenue guidance.
• Discover Financial Services (NYSE: DFS) net income from continuing operations more than doubled in Q4.
• Eaton Corp. (NYSE: ETN) cut its Q4 earnings guidance on weakness in the American auto market.
• FedEx Corp. (NYSE: FDX) Q2 earnings topped expectations and it reaffirmed its guidance.
• General Electric Co. (NYSE: GE) declined to provide quarterly earnings guidance in its annual outlook.
• General Mills (NYSE: GIS) posted a higher-than-expected profit on cost cutting and increased marketing.
• Gilead Sciences Inc. (NASDAQ: GILD) strong earnings growth are expected by one analyst to continue.
• Goldman Sachs Group (NYSE: GS) swung to an anticipated Q4 loss and reported negative revenues.
• Healthcare Realty Trust Inc. (NYSE: HR) was downgraded due to its near-term earnings prospects.
• Honeywell International Inc. (NYSE: HON) affirmed a lower 2009 outlook and said it expects profits to fall.

Milwaukee-based Joy Global Inc. (NASDAQ: JOYG) offered up its fourth-quarter earnings report today, with the company raking in a profit of $1.11 per share on $1 billion in sales. The results surpassed analysts' expectations, which called for earnings of $1.08 per share.

The mining-equipment concern also updated its fiscal 2009 guidance. Joy Global now expects revenues of $3.5 billion to $3.7 billion for the current fiscal year, with earnings per share arriving between $3.60 and $4.00. The forecast fell short of Wall Street's consensus estimates for a full-year profit of $4.24 per share on $4 billion in revenue.

With so many corporations falling short of quarterly earnings expectations, investors have been quick to reward JOYG's better-than-expected fourth quarter. The stock gained roughly 10% in the first hour of today's trading, propelling the shares above resistance from their descending 10-week moving average.

Once the euphoria fades, though, Joy Global could be vulnerable to negative analyst notes. Zacks reports six Strong Buy ratings and two Buys, compared to just three skeptical Holds. If any of these bullish brokers are disappointed by the company's modest outlook for 2009, the stock could be hit with downgrades.

Price-target cuts are also a potential threat. JOYG's average 12-month price target is $49.45, according to Thomson Financial, representing a lofty premium of 118% to Tuesday's closing price. Any downward revisions to this consensus estimate could draw fresh selling pressure to the security.

Elizabeth Harrow is an analyst and financial writer in the research department at Schaeffer's Investment Research. She is featured in the video series Schaeffer's Daily Q&A on SchaeffersResearch.com.

TheStreet.com's Jim Cramer says the sellers are in control, and without dividend protection, we have no floor.

The bad stuff is in the market. It just has to get more in. That's all. That's the conclusion you have to reach when you see companies like Terex (NYSE: TEX) (Cramer's Take), which is valued at only a billion and a half dollars, or Joy Global (NASDAQ: JOYG) (Cramer's Take) at $2 billion and change or McDermott (NYSE: MDR) (Cramer's Take) at $3 billion.

In other words, forget about the stock prices. They are almost all absurd unless we are headed into a recession of such magnitude that companies start showing severe losses in the first quarter. Think about the market cap size. If Terex, which is actually a pretty good machinery company, can sell at a billion and a half dollars -- about the price that some acquisitive company might have paid for a division of Terex a year ago -- why can't it sell at $1 billion? How about $800 million? What's to stop it? The sellers at this point obviously don't even care about it, not one bit. They just want money. The buyers have had their heads twisted off and don't want anything more to do with it. No one wants to recommend it because the estimates are too high. And without a dividend, it has no protection; besides, people might perceive that the dividend can't be paid -- a la Freeport (NYSE: FCX) (Cramer's Take) -- and sell it anyway.

How will we know when things have thawed? Everyone's looking at LIBOR and I can't blame them as that indicator of lending from one bank to another bank is crucial for the way the system is supposed to work. It's a good thermometer for certain, but I don't want it to overstay its welcome, because there are other "true" indicators out there besides just LIBOR.

I am looking at something else: takeovers. On Monday, we saw Waste Management (NYSE:WMI) pull its bid for Republic Services (NYSE:RSG) , a smart idea as WMI had dropped so precipitously despite reporting better-than-expected earnings that one had to question if it was worth doing it. More important, though, getting the money was proving to be possible, but difficult. This situation also prevailed in Altria's (NYSE: MO) buy of UST (NYSE: UST) where Goldman Sachs said, "Don't bother, wait," even though the integration of the two is crucial for Altria's growth.

Now I expect deals to be done if the banks are for real about lending.

Further, the endless margin selling has created tremendous bargains for well-capitalized companies to buy other companies that have brimming order books but are being kept down because of hedge fund redemptions. How can some company not want to buy a Trinity (NYSE:TRN), for example, which has been virtually cut in half even though both presidential candidates are pro-wind? Or how about a Foster Wheeler (NASDAQ: FWLT) or a Joy Global (NASDAQ:JOYG) or a Terex (NYSE: TEX) betting that if there is credit there will eventually be a revival?

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Boeing Co. (NYSE: BA) earnings prospects may have encouraged the machinist union to strike.
• Ciena Corp. (NASDAQ: CIEN) Q3 results and weak guidance led shares to a new 52-week low.
• Corning Inc. (NYSE: GLW) lowered its Q3 earnings guidance below previous and analysts' forecasts.
• Dollar Financial Corp. (NASDAQ: DLLR) beat Q4 estimates and posted record 2008 results.
• Ericsson Telephone Co. (NASDAQ: ERIC) was downgraded because it could miss Q3 earnings expectations.
• Esterline Technologies (NYSE: ESL) topped Q3 expectations due to robust aerospace and defense markets.
• Joy Global Inc. (NASDAQ: JOYG) posted strong Q3 results due to a sharp increase in orders.
• Kraft Foods Inc. (NYSE: KFT) backed away somewhat from its previous 2008 earnings guidance.
• Legg Mason Inc. (NYSE: LM) earnings prospects for the next several quarters led to an analyst downgrade.
• MEMC Electronic Materials Inc. (NYSE: WFR) mid quarter update warned of declining demand for chips.
• Navistar International Corp. (NYSE: NAV) was upgraded following a strong Q3 report.
• New York Times Co. (NYSE: NYT) ongoing losses haven't diminished Rupert Murdoch's interest in it.
• Nokia Corp. (NYSE: NOK) warned that it would miss earnings estimates due in part to weak sales.
• Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA) better-than-expected Q2 led to an analyst upgrade.
• Staples Inc. (NASDAQ: SPLS) Q2 earnings slipped while revenues rose, beating expectations.
• Take-Two Interactive Software Inc. (NASDAQ: TTWO) Q3 results soared but cut its Q4 guidance.
• Tenet Healthcare Corp. (NYSE: THC) was upgraded on its prospects for beating expectations.
• Terex Corp. (NYSE: TEX) warned that earnings for Q3 and Q4 would be lower than estimates.
• Tiffany & Co. (NYSE: TIF) posted better-than-expected Q2 results and offered full-year guidance.
• Toll Brothers Inc. (NYSE: TOL) reported its fourth straight quarterly loss, but it was smaller than expected.

Also, Jim Cramer discusses a decline in earnings resulting from a collapse of oil and oil services.

Upcoming quarterly reports include Korn/Ferry (NYSE: KFY), Pep Boys (NYSE: PBY), Campbell Soup (NYSE: CPB), Krispy Kreme (NYSE: KKD), and Lululemon Athletica (NASDAQ: LULU).

Visit AOL Money & Finance for more earnings coverage.

While less foot traffic and lower sales dragged down Staples Inc.'s (NASDAQ: SPLS) second-quarter profit, mining equipment maker Joy Global Inc.'s (NASDAQ: JOYG) fiscal third-quarter profit soared on strong demand for its products and services.

Staples, the world's largest office supply company, reported Wednesday that it earned $150.2 million, or 21 cents per share, down 16% from its year-ago profit. Sales jumped 18% to $5.07 billion, though same-store sales fell 7% in North America. Results were boosted by the acquisition of Dutch supply chain Corporate Express NV.

Analysts polled by Thomson Reuters had expected a profit of 21 cents per share on revenue of $4.69 billion.

Because of the slowing economy, the Framingham, Mass.-based company also forecast low single-digit earnings per share growth for the full year

Staples shares rose 41 cents, or 1.7%, Wednesday to $25.18. Shares are up 9.2% year to date.

While the earnings crunch for this quarter is all but over, there is still plenty of action in the earnings arena this coming week. For instance, analysts surveyed by Thomson Financial are expecting America's Car Mart Inc. (NASDAQ: CRMT) and Campbell Soup Co. (NYSE: CPB) to be among this week's top earnings gainers.

Bentonville, Ark.-based America's Car Mart is expected to post net income of 38 cents per share (up 52.6% from the same period a year ago) on revenue of $73.8 million (up 25.8%). The used car dealer chain has tended in recent quarters toward positive surprises -- by 21 cents per share, or 73.5%, in the previous quarter. The long-term EPS growth forecast is 15%, about the same as the S&P 500. The consensus recommendation of analysts is to buy CRMT.

Campell is tentatively scheduled to report this week, and the world's biggest soup maker is expected to post net income of 25 cents per share (up 44.0% from a year ago) on revenue of $1.7 billion (up 7.5%). The Camden, N.J.-based company has just missed earnings estimates in the past three quarters. Its long-term EPS growth forecast is 7.5%, which is less than the industry average, but about the same as rivals Kraft Foods (NYSE: KFT) and Heinz (NYSE: HNZ). The analysts' consensus recommendation is currently to buy Campbell.

Other anticipated double-digit earnings gainers scheduled to report this week include brand name apparel maker Guess Inc. (NYSE: GES), mining equipment maker Joy Global (NASDAQ: JOYG), and chip maker National Semiconductor (NYSE: NSM). And Take-Two Interactive Software (NASDAQ: TTWO) is expected to swing to a profit.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Big Lots Inc. (NYSE: BIG) Q1 earnings rose 20%, driven by cash-strapped bargain hunters.
• Borders Group Inc. (NYSE: BGP) narrowed its loss in the first quarter though same-store sales fell.
• Costco Wholesale Corp. (NASDAQ: COST) Q3 profits climbed 32%, beating analysts' estimates.
• Dell Inc. (NASDAQ: DELL) posted solid Q1 results that beat analysts' expectations (see the transcript).
• DSW Inc. (NYSE: DSW) Q1 earnings declined, hurt by weak same-store sales.
• H.J. Heinz Co. (NYSE: HNZ) better-than-expected Q4 results sent the stock to a 52-week high.
• Integra LifeSciences Holdings Corp. (NASDAQ: IART) beat Q4 estimates and offered Q1 guidance.
• J. Crew Group Inc. (NYSE: JCG) lowered its full-year forecast, leading to analyst downgrades.
• Joy Global Inc. (NASDAQ: JOYG) Q2 results beat expectations, and it raised its full-year guidance.
• Lions Gate Entertainment Corp. (NYSE: LGF) posted record Q4 revenues but a bigger-than-expected loss.
• Marvell Technology Group (NASDAQ: MRVL) Q1 profits beat estimates and led to analyst upgrades.
• Medtronic Inc. (NYSE: MDT) beat Q4 estimates and offered full-year guidance.
• Novell Inc. (NASDAQ: NOVL) swung to a profit that was in line with analysts estimates.
• Salesforce.com Inc. (NYSE: CRM) Q1 revenues surged on new customers and demand in Asia.

Joy Global (NASDAQ: JOYG) shares are trading higher after the company reported second-quarter profit of $72.1 million, or 66 cents per share. Excluding one-time items, the company earned 86 cents per share, beating analysts' estimates of 72 cents per share. JOYG also upped its fiscal 2008 earnings forecast to a range of $3.15 to $3.30, up from a previous forecast of $2.96 to $3.22. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on JOYG.

After hitting a one-year low of $42.10 in September, the stock hit a one-year high of $82.48 earlier this month. JOYG opened this morning at $82.17. So far today the stock has hit a low of $77.88 and a high of $82.75. As of 12:10, JOYG is trading at $80.47, up 2.59 (3.3%). The chart for JOYG looks bullish and steady.

For a bullish hedged play on this stock, I would consider a June bull-put credit spread below the $70 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 7.5% return in just three weeks as long as JOYG is above $70 at June expiration. JOYG would have to fall by more than 12% before we would start to lose money. Learn more about this type of trade here.

JOYG hasn't been below $70 since early April and has shown support around $76 recently. This trade could be risky if the prices for commodities fall off in the coming weeks, but even if that happens, that position could be protected by support the stock might find from its 50-day moving average, which is currently around $73.

Brent Archer is an options analyst and writer at Investors Observer.

DISCLOSURE: Mr. Archer owns and/or controls diversified portfolios of long and short stock and option positions that may include holdings in companies he writes about. At publication time, Brent neither owns nor controls positions in JOYG.

MOST NOTEWORTHY: Yahoo and Microsoft were today's noteworthy initiations:

• Yahoo (NASDAQ: YHOO) coverage was resumed with a Neutral, target $26 at Goldman Sachs.
• Microsoft (NASDAQ: MSFT) coverage was resumed with a Buy, target $38 at Goldman Sachs.

OTHER INITIATIONS:

• Petrobras (NYSE: PBR) was initiated with an Overweight at J.P. Morgan.
• Joy Global (NASDAQ: JOYG) coverage was resumed with an Overweight, target $88 at Lehman Brothers.
• Bucyrus (NASDAQ: BUCY) coverage was assumed with an Overweight, target $140 at Lehman Brothers.

"One of my favorite was to play the market is to find a hot area and then invest in companies that provide products to support that market," says Dave Dyer.

In The Dave Dyer Newsletter he explains, "Bucyrus International (NASDAQ: BUCY) is a domestic heavy equipment manufacturer that is focused exactly in the areas that will benefit from the global commodities boom.

"The company's products are focused on mining for coal, iron ore, copper, oil sands, and other minerals needed to support the global infrastructure expansion. Mining is hot right now, and all mines need mining equipment. "Rapid industrial expansion in Asia and Eastern Europe requires raw materials. This trend is not likely to stop soon.

"BUCY is a very old company. In 1880, they started as a small foundry in Bucyrus, Ohio. By 1904, they were supplying excavation equipment for one of the largest projects in the world, the Panama Canal. By 1969, they were making earth moving equipment that was almost 22 stories tall. If you need to dig a really big hole, talk to BUCY.