Chevron (NYSE:CVX) and Shell (NYSE:RDSA) (NYSE:RDSB) have agreed to exchange their respective stakes in two massive natural gas projects in Australia that address the rapidly growing energy demand out of Asia. Chevron gets two gas fields linked to the $29 billion Wheatstone export terminal plus $450 million in cash, and hands over to Shell its stake in the over $30 billion Browse export terminal.
For profit education company Corinthian Colleges (NASDAQ:COCO) misses both revenue and EPS targets for its FQ4. EPS of $0.10 is off estimates by $0.01. Revenues of $394.8 million are down 3.3 percent year-on-year and miss by $9 million.
Me-too rivals Aldi and Target (NYSE:TGT) are stealing Supervalu (NYSE:SVU) jewel Save-A-Lot’s hard-discounting thunder to grab market share. This could impact Supervalu’s likely asset sales, as Save-A-Lot is now expected to command a value of $2 billion, less than what was expected before sales started declining.