Joy Global Inc. tumbled 5.5 percent to $50.58, the lowest level since July 2010. Komatsu Ltd., the world’s second-biggest maker of dump trucks, has no plans to bid for Joy Global (JOY) after studying the U.S. company, as there are few synergies to aid its foray into underground mining equipment.
For-profit college companies slumped, led by Bridgepoint Education Inc. (BPI) after two analysts downgraded the company’s shares. A Bloomberg index of 13 for-profit college companies fell 3.2 percent. Bridgepoint tumbled 8.3 percent to $13.07, on top of a 34 percent slide yesterday after an accreditation application by its Ashford University unit was denied by a regional accreditor.
ASML Holding NV (ASML)’s U.S. shares surged 8.5 percent to $52.57. Intel Corp. (INTC), the largest semiconductor maker, agreed to invest as much as $4.1 billion in the Dutch company in an effort to shave two years from the time to adopt new production techniques.
Intel slumped 2.3 percent to $25.56.