Market Currents

• Tuesday, December 22, 2009

• 08:46 AM Devon Energy (DVN) to sell its stake in three Gulf of Mexico projects to Maersk for $1.3B, a first step in its plan to divest all of its international assets and reposition as a purely North American onshore company. DVN +1.6% premarket. Comment!

• Monday, December 14, 2009

• 09:00 AM Premarket gainers: XTO +19%. JAVA +10%. CLDX +9%. PWR +8%. CHK +7%. SIGA +6%. TER +6%. HK +6%. UPL +5%. LUV +5%. ANDS +5%. EOG +5%. SM +5%. DVN +4%. SD +4%. COG +4%. V +4%. TKC +4%. APC +4%. KWK +4%. TQNT +4%.
  Losers: AUO -6%. EBR -6%. C -3%. Comment!
• 08:36 AM Natural gas stocks higher premarket thanks to the ExxonMobil (XOM) / XTO Energy (XTO) deal. CHK +7.5%. DVN +4.1%. APC +4.1% Comment!

• Monday, November 16, 2009

• 09:09 AM Devon Energy (DVN) says it will shed its Gulf of Mexico and international assets in order to concentrate on its domestic onshore business, potentially generating after-tax proceeds of $4.5-7.5B. "We do not believe that the value of our high-quality Gulf and international assets is being adequately reflected in our stock price. By monetizing these assets, we will realize their full value, allowing us to unleash the growth potential that resides within our world-class onshore assets." (PR) Shares +3.5% premarket. Comment!

• Wednesday, November 4, 2009

• 07:58 AM Devon Energy (DVN): Q3 EPS of $1.10 beats by $0.20. Revenue of $2.1B (-64.9%) in-line. O&G production is up 8% YTD. Shares +4.3% premarket. (PR) Comment!
• 00:05 AM Notable premarket earnings: ABK, ADP, AGU, BDX, BHI, CMCSA, DVN, FWLT, GRMN, HUN, IAG, LIZ, MFA, MMC, PHM, PWR, RDN, RIG, RRD, TAP, TEL, TOT, TRW, TWX, WTR, XTO 1 Comment

• Wednesday, August 5, 2009

• 09:00 AM Premarket gainers: INO +42%. RDN +37%. GRMN +20%. PMI +18%. WFMI +16%. USU +14%. BZ +11. TRA +11%. LYG +11%. FWLT +10%. OWW +10%. AIB +8%. RBS +7%. FIG +6%. BCS +5%. CNO +6%. HW +5%. SATC +5%. SAY +4%. ABAT +4%. DVN +4%.
  Losers: ACAS -21%. ISPH -9%. PWR -6%. AXL -6%. HCP -5%. BMC -5%. RIG -4%. Comment!
• 07:12 AM Devon Energy (DVN): Q2 EPS of $0.71 beats by $0.12. Revenue of $2.1B (-41%) vs. $1.9B. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AGU, AVT, AXL, BHI, BYD, CNP, DF, DVN, EXM, FIG, FWLT, GRMN, MMC, OC, OSG, PCG, PG, PQ, PWR, RDN, RIG, RL, RRD, XTO Comment!

• Wednesday, May 6, 2009

• 07:04 AM Devon Energy (DVN): Q1 EPS of $0.48 beats by $0.20. Revenue of $2.0B (-31.8%) vs. $1.8B. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: ACAS, AGU, ANR, BX, BYD, DSX, DVN, FIG, FWLT, GRMN, HK, HPT, KWK, MGA, MMC, PCG, PWR, RIG, RRD, SNH, TTI, WNR, WTR, XTO Comment!

• Wednesday, February 4, 2009

• 08:09 AM Devon Energy (DVN): Q4 EPS of $0.67 misses by $0.38. Revenue of $2.45B vs. $2.78B. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AGN, ALU, ARM, CLX, DVN, FNF, GR, ITT, KFT, NI, NOV, PM, PPL, R, RL, SLE, TMO, TWC, TWX, WIN Comment!

• Friday, December 26, 2008

• 11:16 AM Natural-gas prices appear to be pulling away from oil prices, but does that mean investors should expect a broad rally in stocks of natural-gas companies (CHK, DVN, EOG, PWE)? Comment!

• Wednesday, December 3, 2008

• 16:45 PM Investors searching for gains in a depressed global marketplace may want to zoom in on the effects China's mega-stimulus plan will have on oil exploration, specifically for CNOOC (CEO) and its partners Anadarko (APC) and Devon Energy (DVN). Comment!

• Wednesday, November 5, 2008

• 07:33 AM Devon Energy (DVN): Q3 EPS of $3.09 beats by $0.03. Revenue of $5.98B (+116.4%) vs. $4.02B. Shares +1.2%. (PR) Comment!