Energy stocks are higher with the NYSE Energy Sector Index
rising 0.4% while shares of energy companies in the S&P 500
also are up 0.4% as a group. Crude oil for December delivery
settled 74 cents higher at $97.87 per barrel while November natural
gas rose 8 cents to $3.71 per 1 million BTU.
In company news, National Oilwell Varco Inc. (
) is up 4.3% at $82.56 a share, holding within 16 cents of its new
52-week high of $82.72 after reporting Q3 earnings of $1.34 per
share, beating the Capital IQ consensus by $0.02.
The latest results exclude $10 million in pre-tax transaction
charges and $102 million in pre-tax gains resulting from the
settlement of an outstanding legal claim.
Revenue rose 6.9% year over year to $5.69 billion, also topping
estimates by around $10 million.
In other sector news,
(+) COG, Q3 earnings of $0.18 per share exceed analyst consensus
by $0.01. Revenue rises 46.8% year over year to $435.9 mln, roughly
in-line with expectations. Q3 production totaled 107.1 bln cubic
feet of natural gas equivalent.
(-) FET, Energy services company earns $0.44 per share in Q3,
topping expectations by $0.02. Revenue rises 12.2% year over year
to $390.2 mln but still trails estimates by $16.72 mln. Projected
Q4 EPS of $0.42 to $0.06 lags Street by at least $0.03 per
Copyright (C) 2013 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.