Energy stocks are lower this afternoon with the NYSE Energy
Sector Index sinking around 2% and the S&P Energy Index down
near 2.6%. Crude oil for September delivery is down $11 at about
$87.85 a barrel.
In company news, Enbridge (
) shares are down 2.5%, reversing a brief run into positive
territory today after the pipeline firm reported Q2 earnings of
CDN$0.36 per share, below the Capital IQ estimate for CND$0.38.
ENB reaffirmed in-line guidance for FY12, forecasting earnings
of $1.58 to 1.74 a share. The Street is at $1.66, according to
In other sector news,
(+) PQ (+6.8%) Updated its FY12 guidance - production volumes of
between 92 million to 97 million cubic feet per day; capital
expenditures of $110 million to $115 million.
(-) MUR, (-0.7%) Reports Q2 EPS of $1.52, beating estimates by
$0.18. Revenue of $7.19 billion was well shy of the $9.59 million
analysts were anticipating. n, and EPS of $1.52. MUR also raised
its dividend by 13.6% to $0.3125 a share.
(+) WLT, (+3.9%) Announced Q2 revenues of $678 million, or over
$15.8 million above consesus. Earnings also topped expectations -
$0.51 a share vs. $0.40, according to Capital IQ.
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