3 Stocks Investors Buy Following Earnings Reports
Devon Energy Corporation (NYSE:DVN) in the fourth quarter as profit dropped from a year earlier. Net income for Devon Energy Corporation fell to $507 million ($1.25 per share) vs. $562 million ($1.32 per share) a year earlier. This is a decline of 9.8% from the year earlier quarter. Revenue rose 21.1% to $2.58 billion from the year earlier quarter. Devon Energy Corporation reported adjusted net income of $1.55 per share. By that measure, the company beat the mean estimate of $1.48 per share. Analysts were expecting revenue of $2.59 billion.
“Devon delivered an outstanding performance in 2011. We drove production from our North American onshore asset base up eight percent, increased proved reserves to an all-time high and completed our highly-successful strategic repositioning, including $3.5 billion of share repurchases,” commented John Richels, president and chief executive officer.
Competitors to Watch: Chesapeake Energy Corp. (NYSE:CHK), Anadarko Petroleum Corp. (NYSE:APC), Targa Resources Partners LP (NYSE:NGLS), GeoResources, Inc. (NASDAQ:GEOI), QEP Resources, Inc. (NYSE:QEP), Newfield Exploration Co. (NYSE:NFX), SandRidge Energy Inc. (NYSE:SD), Swift Energy Company (NYSE:SFY), EOG Resources, Inc. (NYSE:EOG), and Gulfport Energy Corp. (NASDAQ:GPOR).
SCANA Corporation (NYSE:SCG) pull in a higher profit in the fourth quarter. Net income for SCANA Corporation rose to $98 million (75 cents per share) vs. $95 million (74 cents per share) in the same quarter a year earlier. This marks a rise of 3.2% from the year earlier quarter. Revenue fell 9.6% to $1.04 billion from the year earlier quarter. SCANA Corporation fell short of the mean analyst estimate of 80 cents per share. It fell short of the average revenue estimate of $1.18 billion.
“Our 2011 results were in line with our earnings expectations as we continue to deliver predictable growth for our shareholders,” said Jimmy Addison, Executive Vice President and Chief Financial Officer. “I am also very pleased with our continued cost containment efforts during this economic recovery and more broadly, with South Carolina’s robust industrial announcements and the related new jobs.”
Competitors to Watch: Dominion Resources, Inc. (NYSE:D), CenterPoint Energy, Inc. (NYSE:CNP), OGE Energy Corp. (NYSE:OGE), Integrys Energy Group, Inc. (NYSE:TEG), Avista Corporation (NYSE:AVA), The Empire District Electric Co. (NYSE:EDE), Wisconsin Energy Corp. (NYSE:WEC), CMS Energy Corporation (NYSE:CMS), TECO Energy, Inc. (NYSE:TE), and Unitil Corporation (NYSE:UTL).
athenahealth Inc. (NASDAQ:ATHN) reported earnings today. Net income for athenahealth, Inc. fell to $5.3 million (15 cents per share) vs. $7.3 million (21 cents per share) a year earlier. This is a decline of 27% from the year earlier quarter. Revenue rose 33.4% to $92.5 million from the year earlier quarter. athenahealth, Inc. (NASDAQ:ATHN) reported adjusted net income of 26 cents per share. By that measure, the company beat the mean estimate of 16 cents per share. Analysts were expecting revenue of $92.5 million.
“During 2011, athenahealth (NASDAQ:ATHN) gained a new set of game stakes in our ongoing effort to build a national health information backbone. With the advent of athenaCoordinator and permission from the government to form a two-sided market for health information exchange, this new service platform positions athenahealth to create a healthy, sustainable market for health information exchange and the beginning of a market for improving the quality of care,” said Jonathan Bush, the Company’s Chairman, President, and Chief Executive Officer. “We have e
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