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Cobalt rockets on monster oil well
Over 20,000 Barrels a Day Possible
Cobalt International Energy said this morning that a new oil well off the coast of Angola is already an "extraordinary success,' exceeding expectations in early testing. The drilling company said data indicates that the deep-sea well could produce more than 20,000 barrels of oil a day. The name saw bullish option activity earlier this week. CIE is up more than 33 percent on tradeMONSTER's extended-hours platform.
LinkedIn Beats on Top, Bottom Lines
The business social network last night reported adjusted earnings of $0.12 per share on revenue of $167.7 million for the fourth quarter, beating the consensus forecast of $0.07 EPS on $160 million in revenue. Management also projected revenue of $170 milllion to $175 million in revenue for the current quarter, compared with analysts' average estimate of $171 million. LNKD is up more than 8.5 percent in the pre-market.
Nuance Drops After Missing Forecasts
The software company posted adjusted earnings of $0.34 per share on revenue of $382 million for its fiscal first quarter, below estimates of $0.36 EPS on $392 million in revenue. Shares of Nuance, which provides technology used in the iPhone's Siri voice-recognition system, had been running higher since Apple's blowout earnings last month and attracted bullish call buying . NUAN is down more than 10.5 percent this morning.
True Religion Loses Its Way on Quarter
The designer-jean company said after yesterday's close that adjusted fourth-quarter earnings came in a $0.62 per share on $119.4 million in revenue, well below the estimated $0.71 EPS on $128 million. Management also projected earnings of $1.88 to $1.95 per share on revenue of $450 million to $460 million for all of 2012, missing the consensus forecast of $2.37 EPS on $494 in revenue. TRLG is down nearly 25 percent in the pre.