It has been an exciting week in the markets, and it’s only Monday. After the President’s Sunday night address about Osama Bin Landen, The Dow (NYSE:DIA) traded as high as 12,876, before closing down at 12,807. The S&P 500 (NYSE:SPY) also closed slightly lower. Oil (NYSE:USO) has pulled back, while the US Dollar (NYSE:UUP) has found some type of footing.
In addition to historic headlines, investors will also need to pay attention to earning releases. These 3 companies reported earnings on Monday:
1) Chesapeake Energy (NYSE:CHK): Shares are down more than 3.5% after the natural gas company released Q1 earnings. EPS of 75 cents beat estimates by 5 cents. Revenue decreased a whopping 42% from last year to $1.6 billion. This was a huge miss, as investors were expecting $2.7 billion. Due to unsuccessful hedging, the company reported a loss of $205 million for the quarter. The company competes with Anadarko Petroleum (NYSE:APC), BP (NYSE:BP), and ConocoPhillips (NYSE:COP).
2) Massey Energy (NYSE:MEE): The company reported a lump of coal after the closing bell. The company produced a Q1 net loss of $7.7 million (-7 cents per share), analyst estimates were expecting a net gain of 58 cents per share. First quarter results were hurt by the Upper Big Branch explosion, which caused the company to take a $12.4 million hit. Another $18.4 million was lost on derivative instruments. Other coal plays include: Arch Coal (NYSE:ACI), Peabody Energy (NYSE:BTU), and Consol Energy (NYSE:CNX).
3) Anadarko Petroleum (NYSE:APC): After rising 1.79% during regular market hours, shares are now trading nearly 1% lower in late trading. After the closing bell, the oil and gas company reported Q1 results. EPS of 72 cents per share beat estimates by 14 cents. Revenue increased 4% from last year to $3.3 billion. Investors may also want to consider Chesapeake Energy (NYSE:CHK), Exxon Mobil (NYSE:XOM), and Chevron (NYSE:CVX).
Disclosure: No positions