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


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NYSE:RIG / NASDAQ:QCOR / NYSE:SFY / NYSE:CIE
02/28/2014 [ACCESSWIRE]

Transocean Ltd. (NYSE: RIG) – For an in-depth report on Transocean Ltd. follow: www.BullTrends.com/stockquote/RIG

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: www.BullTrends.com/stockquote/QCOR

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: www.BullTrends.com/stockquote/SFY

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: www.BullTrends.com/stockquote/CIE

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.

 

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