Top Energy Stocks
Energy stocks were mixed Tuesday, with the NYSE Energy Sector
Index slumping about 1.0% while shares of energy companies in the
S&P 500 were up about 0.2% as a group. Crude oil for September
delivery was down $1.07 at $100.60 per barrel while August natural
gas was down 2 cents to $3.75 per 1 million BTU.
In company news, shares of Arch Coal (
) were advancing Tuesday after the miner reported a smaller Q2 net
loss than analyst were expecting although revenue for the three
months ended June 30 failed to meet expectations.
Net loss for the quarter was $96.9 million, or $0.46 per share,
expanding on a $72.2 million loss during the year-ago period.
Excluding one-time items, the adjusted net loss remained at $0.46
per share, topping the Capital IQ consensus by $0.02 per share.
Revenue fell 6.9% year over year to $713.8 million, trailing the
Street view by around $4.7 million.
ACI shares were ahead about 5.4% at $3.02 apiece in afternoon
trading, just 3 cents off their session high. The stock has a
52-week range of $2.82 to $5.37 a share, sliding 25.5% over the
past 12 months.
In other sector news,
(+) RRC, (+2.3%) Q2 revenue grows 9.1% year over year to $477.52
mln, topping analyst estimates by $3.4 mln. Reaches record
production of 1.105 mln cubic feet of natural gas per day, a 21%
increase over year-ago levels. EPS of $0.36 lags Street view by
(-) BP, (-2.8%) Warns additional Western sanctions on Russia
could harm its business there along with its relationship with
Rosneft, the Russian state oil company
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.