Top Moving Resource Stocks: July 30-Aug 3rd
United States Steel Corporation (NYSE:X)
Weekly Trading range: $18.55 to $22.00
News: United States Steel this week reported Q2 earnings of $0.69 per share, topping the Capital IQ analyst estimate of $0.48. Revenues also beat estimates, X pulled in $5.02 billion of revenue on the quarter versus the analyst estimate of$4.99 billion.
Cobalt international energy (NYSE:CIE)
Weekly Trading Range: $22.14 to $28.55
News: Reported that its Cameia #2 appraisal well, located in Block 21 offshore Angola, successfully confirmed the presence of a large hydrocarbon accumulation. The company also reported a Q2 loss of $0.11 per share, ex one-time items, versus the Capital IQ consensus of $0.09 loss per share.
First Solar (NASDAQ:FSLR)
Weekly Trading Range: $3.94 to $18.92
News: Earnings in the second quarter easily topped analyst expectations. FSLR reported Q2 EPS of$1.27 vs. the analyst estimate of $0.90, revenues were $957 million, also above the analyst forecast, which was fore $819 million. FSLR also amended it guidance, for the full year, FSLR is now calling for sales of $3.6 billion – $3.9 billion, compared to the prior guidance of $3.5 billion – $3.8 billion. X also adjusted its FY EPS expectations to $4.20-$4.70, compared to prior guidance of $4.00-$4.50.
-Following FSLR’s earnings surprise, the other solar stocks, including: SPWR, TAN, TSL, YGE, JASO, LDK and STP all rallied.
Intrepid Potash (NYSE: IPI )
Weekly Trading Range: $21.59 to $23.62
News: The company reported EPS of $0.25 for the quarter, beating the consensus estimate of $0.24 by $0.01. Revenue was down 17.2% compared to the same quarter last year.
Molycorp Partners (NYSE:MCP)
Weekly Trading Range: $11.31 to 17.65
News: Molycorp, crashed this week, to a 52-week low after it reported a reported a Q2 loss of $0.03 per share, widely missing estimates of profit of $0.08 per share. Sales for the quarter came in at $104.6 million, missing estimates of $115.5 million.
Eni Spa. (NYSE:E)
Weekly Trading Range: $39.77 to $43.77
News: Eni, Italy’s biggest oil and Natural Gas Company announced that it had entered the Liberia market with the acquisition of three offshore exploration blocks. Eni said it agreed to buy a 25% stake from Chevron Corp. (CVX) in the LB11, LB12 and LB14 blocks. The joint venture is now made up of Chevron with a 45% stake, while Oranto Petroleum Ltd. holds 30% and Eni the remaining 25%.