Active Stocks Feb 7th: BP, Nevsun Resources, Emerson Electric, Perrigo, BDX
BP plc (NYSE:BP): CEO Bob Dudley said he expects organic capital spending will grow to some $22B in 2012, up from 2011’s $19 billion as BP invests in growth. He anticipates investment of $16B-$17B in the upstream as BP invests in its pipeline of major projects and increases its exploration spend. Around $4.5B is expected to be invested in BP’s downstream businesses, slightly higher than 2011 as activity levels at the Whiting refinery upgrade ramp up. Dudley said he expects underlying production in 2012 to be broadly flat, excluding TNK-BP. Reported production is expected to be lower than 2011, with the actual outcome depending on divestments, OPEC quotas and the impact of oil price on production sharing agreements. The impact of divestments is expected to be around 120,000 boed in 2012 compared to 2011, depending on the timing of transactions. Shares of BP plc are trading 1.71% lower today.
Nevsun Resources (NYSEAMEX:NSU): Nevsun Resources announces its 2012 outlook for planned gold production of 190,000 to 210,000 ounces from the Bisha mine in Eritrea. The Bisha mine is one of the highest grade open pit base metal deposits in the world and has a mine life in excess of 12 years. Nevsun’s outlook includes production from the Bisha Main oxide reserve, stockpiles and Harena oxide. It does not include any production from the much larger and more valuable supergene and primary zones, which sit beneath the oxide zone cap and are scheduled to be brought into production in 2013 Shares of Nevsun Resources are trading 25.87% lower today.
Emerson Electric Co. (NYSE:EMR): Reports revenue $5.31B vs. consensus $5.29B. Shares of Emerson Electric Co. are trading 2.92% lower today.
Perrigo Company (NASDAQ:PRGO): New product launches including the generic versions of Mucinex, Prevacid, Delsym, and Allegra D12 are expected in the 2H of Perrigo’s FY12. The company’s Rx Pharmaceuticals segment continues to outperform their expectations. Shares of Perrigo Company are trading 2.48% higher today.
Becton, Dickinson and Co. (NYSE:BDX): This decline was due to difficult pricing comparisons, higher raw material costs and higher expenses from recent acquisitions. Shares of Becton, Dickinson and Co. are trading 3.87% lower today.
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