Chesapeake Beats Estimates, Microsoft’s CEO Short List, and 3 More Hot Stocks
Chesapeake Energy Corp. (NYSE:CHK): Chesapeake shares are selling off as the company reveals earnings per share of 43 cents, beating by 1 cent, and revenue of $4.87 billion, beating by $1.38 billion. However, total production fell by 2 percent to 4 billion cubic feet per day, largely as a result of asset sales; adjusted for the sales, production rose about 8 percent over the same period last year. Chesapeake lifted its full-year oil production guidance by 2 million barrels to a range of 40 million-42 million barrels, a 28 percent-34 percent increase year over year, respectively. For full-year 2013 drilling, completion and leasehold capital expenditures fell by $300 million, to $5.7 billion-$6 billion.
Microsoft Corp. (NASDAQ:MSFT): Reuters is reporting that of the 40 potential candidates for Steve Ballmer’s CEO seat at Microsoft, the company has narrowed down the list to just five, with Ford Motor Co. CEO Alan Mulally and former Nokia Corp. CEO Stephen Elop still in the running. Also on the slate is former Skype CEO Tony Bates, who is now responsible for Microsoft’s business development, and Satya Nadella, the company’s cloud and enterprise chief, Reuters sources indicated. However, they cautioned that the final selection could still take several months.
Abercrombie & Fitch Co. (NYSE:ANF): Abercrombie shares are plunging more than 12 percent as the company reports weaker-than-expected quarterly results, with net sales that fell 12 percent to $1.03 billion, below the consensus estimate of $1.07 billion. Comparable-store sales tanked 14 percent, even worse than the forecasts that called for a 13 percent reduction; however, Abercrombie still maintains that its adjusted earnings per share will come in at the higher end of its guidance of 40 cents-45 cents, against the consensus estimates of 40 cents.
AngloGold Ashanti Ltd. (NYSE:AU): Despite profits attributable to shareholders plummeting, AngloGold shares are up over 6 percent, since the figure indicated an improvement over the second quarter, which saw a write-down of $2.4 billion due to falling gold prices, forcing AngloGold to take a loss. However, adjusted profit doubled and then some, to $576 million; production grew 1.3 percent to 1.043 million troy ounces, as the gold price fell off 19 percent to $1,327 per ounce.
T-Mobile US (NYSE:TMUS): Canaccord has hiked its rating on T-Mobile to Buy, up from Hold, after the carrier reported on Tuesday that it had made strong gains and initiated a subscriber guidance increase. The firm put a $33 price target on T-Mobile shares, up from $25.