For the rich folks, seven more companies announced they were increasing their dividends/distributions in this very, very bad economy, in which the US stock market hit a new all-time high earlier this week.
From Yahoo!In-Play:
- Crude oil just rallied sharply higher. Dec crude is now +0.2% at $96.92/barrel.
Magellan Midstream misses by $0.03, beats on revs; Raises 2013 DCF guidance: Reports earnings of $0.55 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.58; revenues rose 36.2% year/year to $443.8 mln vs the $424.75 mln consensus. - Phillips 66 seeks to expand Midstream business with proposed LPG export terminal to supply global markets. Co plans to develop a liquefied petroleum gas (LPG) export terminal in Freeport, Texas. The new terminal is intended to help meet growing global market demand for U.S.-supplied products. The proposed LPG export terminal would provide 4.4 million barrels per month of LPG export capacity, the equivalent of eight very large gas carriers (VLGC). It would be located at the site of the company's existing marine terminal in Freeport and utilize existing Phillips 66 midstream, transportation and storage infrastructure to supply petrochemical, heating and transportation markets globally.
- Exxon Mobil beats by $0.01, beats on revs: Reports earnings of $1.79 per share, $0.01 better than the Capital IQ Consensus Estimate of $1.78; revenues fell 2.4% year/year to $112.37 bln vs the $106.1 bln consensus.
- Enterprise Products: Texas Express Pipeline begins operations: Cos announced the start of service on the Texas Express natural gas liquids ("NGL") pipeline from Skellytown, Texas to the NGL fractionation and storage complex in Mont Belvieu, Texas. The Texas Express Pipeline, operated by Enterprise, gives producers in West and Central Texas, the Rocky Mountains, southern Oklahoma, the Mid-continent and the Denver-Julesburg basin much-needed takeaway capacity for growing NGL volumes and improved access to the largest NGL trading hub, located along the Gulf Coast.
- Cardinal Health beats by $0.07, beats on revs; guides FY14 EPS above consensus; authorizes new $1 bln repurchase program.
- ConocoPhillips beats by $0.02: Reports arnings of $1.47 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $1.45. Achieved third-quarter guidance with production of 1,514 MBOED, including continuing operations of 1,470 MBOED and discontinued operations of 44 MBOED, which reflects two months of disruptions in Libya. Carbo Ceramics beats by $0.48, beats on revs: Reports Q3 (Sep) earnings of $1.31 per share, $0.48 better than the Capital IQ Consensus Estimate of $0.83; revenues rose 33.4% year/year to $201.5 mln vs the $161.03 mln consensus. The increase in revs was mainly attributed to a 48% increase in proppant sales volumes offset by a 6% decrease in the average proppant selling price for all proppants. North American (defined as Canada and the U.S.) proppant sales volumes increased 63%, while international proppant sales volumes decreased 17%, compared to the same period last year.
- Freightcar America beats by $0.01, misses on revs.
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