Stock Market Update: Joy Global and Gmarket See Significant Gains

Investors were feeling jubilant as shares of Joy Global and Gmarket surged on the stock market. Joy Global, a supplier of mining equipment, posted a fourth-quarter profit that exceeded Wall Street's estimates, causing a significant increase in its stock price. Meanwhile, Gmarket, South Korea's answer to eBay, saw its stock price rise as investors took note of its rapid growth and potential for future gains. Jim Cramer, a well-known stock analyst, praised Gmarket for its undervalued status and high growth potential.

Key Takeaways:

• Joy Global's fourth-quarter profit exceeded Wall Street's estimates, leading to a significant increase in its stock price.
• Gmarket's stock price rose due to its rapid growth and potential for future gains, with Jim Cramer praising the company for its undervalued status.
• China Life Insurance saw a significant gain in its stock price, despite concerns about air quality in Chinese cities, as the country's growing middle class increases demand for life and health insurance policies.
• TurboChef's stock price increased after a favorable review by Barron's, highlighting the potential of its high-speed ovens.
• Lifetime Brands, a cutlery maker, saw its stock price drop due to a reduced full-year earnings forecast, citing a cautious stance by retailers on inventories.
• Bed Bath & Beyond's stock price fell as its third-quarter results and fourth-quarter forecast trailed Wall Street estimates.

Statistics:

• Joy Global's stock price increased by $2.93 to $47.16 U.S.
• Gmarket's stock price rose by $3.69 to $24.56.
• China Life Insurance's stock price increased by $22.90 to $129.12.
• TurboChef's stock price rose by $1.42 to $16.35.
• Lifetime Brands' stock price decreased by $3.55 to $16.16 U.S.
• Bed Bath & Beyond's stock price fell by $2.64 to $38.04 U.S.

Sources:

• Thomson Datastream
• www.globeninvestor.com