Questcor Pharmaceuticals Beats Zacks Consensus; Cobalt International Energy Rises Despite Disappointing Q4

Follow this company

Companies Mentioned

02/28/2014 [ACCESSWIRE]

Transocean Ltd. (NYSE: RIG) – For an in-depth report on Transocean Ltd. follow:

Transocean closed down a modest 1.07% on Thursday with about 12.7 million shares traded. The stock hit a new 52-week low of $41.44 during intra-day trading after news revealed that lower rig utilization that might not pick up for 18 to 24 months. The company reported a 49% drop in profit in the fourth-quarter to $233 million, down from $456 million in the year-ago quarter. The drop in profit was due to lower rig utilization, with only 75% of Transocean's fleet used in the quarter, compared to 83% in the third quarter. During the company's earnings call, senior vice president of marketing Terry Bonno said Transocean's partners are delaying drilling programs and are increasingly sub-letting rigs. The company said it could take 18 to 24 months for demand to recover.

Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) - For an in-depth report on Questcor Pharmaceuticals, Inc. follow:

Shares of Questcor Pharmaceuticals closed down 9.08% on Thursday with nearly 10.3 million shares traded. The stock was one of the biggest gainers on the NASDAQ after the company reported fourth-quarter 2013 earnings per share of $1.53, up from the year-ago earnings of $1.03 per share. Excluding share based compensation expense and onetime items, earnings stood at $1.67 per share. The Zacks Consensus Estimate was $1.65. Fourth-quarter 2013 revenues climbed 51% to $242.9 million but missed the Zacks Consensus Estimate of $248 million.

Swift Energy Co. (NYSE: SFY) – For an in-depth report on Swift Energy Co. follow:

Swift Energy Co. closed down 16.05% on Thursday with about 10.5 million shares traded. The stock was one of the biggest decliners on the NYSE and even hit a new 52-week low of $8.80 during intra-day trading. The company missed analysts' expectations for revenue in the fourth quarter. Revenue fell 7.5% from the year-ago period to $146 million for the quarter, missing the Capital IQ Consensus of $148.1 million. Swift Energy posted earnings of 13 cents a share for the quarter, which is in-line with analysts' expectations.

Cobalt International Energy, Inc. (NYSE: CIE) - For an in-depth report on Cobalt International Energy, Inc. follow:

Shares of CIE closed up 6.46% on Thursday with nearly 10 million shares traded. The stock was one of the most active stocks on the NYSE and saw gains despite missing revenue estimates. Cobalt reported a loss of 21 cents a share, excluding items, which was 6 cents worse than the Capital IQ consensus estimate of a loss of 15 cents a share. The company did not report revenue for the quarter.


Disclosure: is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please read our report and visit our website, for complete risks and disclosures.


Leave a comment...

Your Name