Seeking Alpha

Breaking News

  • Thursday April 24, 2:29 PM ET
    • Cabot Oil & Gas (COG +5.2%) trades sharply higher, overcoming Q1 results that trailed analyst expectations, as earnings doubled and revenues rose 36% Y/Y to $510M.
    • Q1 total production grew 34% Y/Y to 119.9B cfe, driven by higher realized natural gas prices.
    • Total per unit costs fell 19% Y/Y to $2.66/Mcfe from $3.29/Mcfe; all operating expense categories fell on a per unit basis except for exploration expense, which was flat, and transportation and gathering, which rose due to slightly higher transportation rates and new transportation agreements in the Marcellus.
    • Tightened 2014 production guidance range to 530B-585B cfe from 519B-598B cfe, and 20%-30% output growth in 2015; raises its capital budget to $1.375B-$1.475B amid an increase in rig count and higher activity in the Eagle Ford.
    [Energy, Earnings, On the Move] 1 Comment
  • Thursday April 24, 2:27 PM ET
    • United Continental (UAL -9.4%) put in a weaker quarter than Delta Air Lines and American Airlines in Q1 with passenger traffic dropping 0.3% and a key revenue metric sliding 2%.
    • Of note, the company's higher exposure to Asia was a drag in Q1 and could continue to pull down its overall results.
    • The under-performance by UAL in Q1 was enough to prompt Wolfe Research to warn the carrier may face a "significant structural disadvantage" to its peers.
    • Investors have some concerns of their own, pushing UAL shares down to below $42.
    [Consumer, On the Move] Comment!
  • Thursday April 24, 2:11 PM ET
    • After trading sharply higher premarket, Facebook (FB -0.7%) is now down slightly, as investors balance big top and bottom-line beats (the company's fourth in a row) with concerns about slowing growth and a CFO change.
    • Facebook has announced today it's buying Finland's ProtoGeo, developer of popular fitness-tracking app Moves. ProtoGeo says its team will work on improving Facebook's products/services, but will also continue supporting its standalone app and has no plans to "commingle" its data with Facebook's.
    • The acquisition comes amid surging industry hardware and software investments in mobile health/fitness-tracking solutions. Samsung included a slew of health/fitness features within its Galaxy S5, and Apple will reportedly do the same for the iPhone 6 and its anticipated iWatch. Google's new Android Wear platform also includes health/fitness-monitoring support.
    • Separately, Facebook has launched a newswire page in partnership with startup Storyful in an effort to get more breaking news into feeds. Mark Zuckerberg has wanted Facebook to be the world's "best personalized newspaper," but users haven't always felt the same way.
    [Tech, Top News] 1 Comment
  • Thursday April 24, 2:04 PM ET
    • Southern National Bancorp of Virginia, Inc. (SONA) declares $0.07/share quarterly dividend, in line with previous.
    • Forward yield 2.69%
    • Payable May 23; for shareholders of record May 12; ex-div May 7.
    [Dividends] Comment!
  • Thursday April 24, 2:02 PM ET
    • Deltic Timber Corporation (DEL) declares $0.10/share quarterly dividend, in line with previous.
    • Forward yield 0.66%
    • Payable June 16; for shareholders of record June 2; ex-div May 29.
    [Dividends] Comment!
  • Thursday April 24, 2:02 PM ET
    • Avery Dennison Corporation (AVY) declares $0.35/share quarterly dividend, 20.7% increase from prior dividend of $0.29.
    • Forward yield 2.87%
    • Payable June 18; for shareholders of record June 4; ex-div  June 2.
    [Dividends] Comment!
  • Thursday April 24, 2:00 PM ET
    • Dow -0.15%.
    • 10-yr -0.01%.
    • Euro +0.06% vs. dollar.
    • Crude +0.32% to $101.76.
    • Gold +0.52% to $1291.3.
    Comment!
  • Thursday April 24, 1:58 PM ET
    • Coca-Cola (KO -0.1%) selects Kathy Waller to be the firm's new CFO, effective immediately.
    • Waller replaces Gary Fayard who is retiring.
    • The exec was most recently serving the company as Vice President, Finance and Controller.
    [Consumer] Comment!
  • Thursday April 24, 1:42 PM ET
    • Lam Research (LRCX +11%) beat FQ3 estimates and guided on its CC (transcript) for FQ4 revenue of $1.19B-$1.29B and EPS of $1.14-$1.28, above a consensus of $1.16B and $1.09. Ultratech (UTEK +3.6%) missed Q1 estimates, but has reiterated guidance for 25%-30% 2014 revenue growth (above a 23.5% consensus).
    • Just as importantly for the industry, Lam has forecast the global wafer fab equipment market will be worth $32B in 2014 - $1B more than what Gartner previously forecast.
    • Lam also mentioned it has "seen some strengthening" in DRAM equipment orders - clients have been conservative with their capex following industry consolidation - and a "sustained commitment" among logic/foundry clients (Intel and TSMC?) to advanced processes (20nm, 3D transistors, etc.). However, there have been "some slight delays" in 3D NAND flash investments.
    • Chip equipment peers are also up: AMAT +1.4%. KLAC +1.5%. ASML +2.1%. ACLS +1.6%. CAMT +5.3%. RTEC +1.5%. PLAB +3.4%. One notable exception is Teradyne (TER -4.1%), which provided light Q2 EPS guidance - $0.36-$0.43 vs. a consensus of $0.49 - to go with a Q1 beat. Revenue guidance is in-line.
    • The group sold off last week after ASML offered soft guidance and a cautious 2H outlook. KLA reports after the bell.
    [Tech, Earnings, On the Move] Comment!
  • Thursday April 24, 1:40 PM ET
    • A forecast from J.D. Power and LMC Automotive calls for automobile sales in the U.S. to reach 1.1M units in April, up 5% Y/Y.
    • The average transaction price in April is expected to be 3.6% higher at close to $29.8K.
    • What to watch: Close to half of the new models in 2014 are arriving in the premium segment which will cause new competition as some premium pricing dips down into the levels of non-premium models.
    • Automakers: GM, F, TM, FIATY, HMC, NSANY, TSLA, VLKAY, DDAIF, HYMLF, BAMXY, KIMTF, MMTOF, TTM
    [Consumer, Global & FX] 1 Comment
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TOP ARTICLES2:40 PM ET THURSDAY APR 24
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