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3 Stocks to Watch on Thursday: Ciena Corporation (CIEN), Dermira Inc (DERM) and Joy Global Inc. (JOY)

The stock market had a modest start to the month of June as oil prices fell back down to below $50 a barrel. The S&P 500 edged 0.1% higher Wednesday, while the Dow Jones Industrial Average inched 0.01% at day’s end.

3 Stocks to Watch on Thursday: Ciena Corporation (CIEN), Dermira Inc (DERM) and Joy Global Inc. (JOY)Ciena Corporation (NYSE:CIEN) and Joy Global Inc. (NYSE:JOY) just shared earnings news with investors, while Dermira Inc (NASDAQ:DERM) released some promising news of its own.

And all three will be on the move in Thursday’s trading. Here’s a closer look at what will be doing the pushing:

Ciena Corporation (CIEN)

CIEN shares look to pop by double digits on the merit of its fiscal second quarter’s results simply being less bad than expected.

The telecommunications-equipment firm managed to earn $14 million, which was a 32% drop from the year-ago period. On an adjusted basis, though, earnings of 34 cents per share were enough to top expectations of 27 cents per share.

Revenues of $640.7 million topped analyst estimates for $630.74 million, and were on the high side of the company’s own guidance range.

Ciena’s performance was led by a strong push from the Asia Pacific region, which grew revenues from $74.3 million to $91.1 million to make up 14.3% of overall revs.

CIEN stock was soaring by more than 11% in Thursday’s premarket action.

Dermira Inc (DERM)

Dermira had some positive news Wednesday as its experimental therapy for excessive underarm sweating showed progress.

The company’s treatment, DRM04, “demonstrated statistically significant improvements” for endpoints in a pair of trials. Patients successfully completed two Dermira trials that helped 697 people reduce their sweating by 52.8% for patients treated with the medication and 28.3% for the control group.

Current treatment options include traditional anti-perspirants, as well as botox injections and lasers, among others.

Demira sees a large market for DRM04, as about 7.8 million people (2.8% of the population) suffers from hyperhidrosis — an overactive sweating condition.

DERM was up nearly 5% in Thursday’s premarket trade.

Joy Global Inc. (JOY)

JOY shares were also popping early Thursday on its own Street-beating results.

Joy Global earned an adjusted 9 cents per share for its latest quarter, topping expectations for a breakeven quarter.

Most of Joy’s other financials weren’t as positive, however.

Revenues were off 26% to $602 million, which missed analysts’ estimates for $608 million. And on a GAAP basis, the company actually lost $9.8 million, which was down from a $56 million profit in the year-ago period.

Additionally, the company says it believes it will fall on the low end of its full-year forecasts. The company currently sees non-GAAP earnings of 10 to 50 cents per share on revenues of $2.4 billion to $2.6 billion.

Nonetheless, the earnings beat seemed to be enough to lift JOY stock, which was up 8% before Thursday’s bell.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/06/3-stocks-to-watch-on-thursday-ciena-corporation-cien-dermira-inc-derm-and-joy-global-inc-joy/.

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