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CHICAGO--(Business Wire)--
Zacks.com announces the list of stocks featured in the Analyst Blog. Every day
the Zacks Equity Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the blog include:
EOG Resources Inc. (NYSE: EOG), Grupo Televisa S.A. (NYSE: TV), OGE Energy Corp.
(NYSE: OGE), Edison International (NYSE: EIX) and Dynegy Inc. (NYSE: DYN).
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Here are highlights from Friday`s Analyst Blog:
EOG Resources Remains Neutral
EOG Resources Inc. (NYSE: EOG) reported third-quarter earnings of 81 cents per
share, compared with the Zacks Consensus Estimate of 65 cents and a year-ago
profit of $2.34. Before adjusting one-time items, earnings were 2 cents per
share. Despite an increase in production volumes, earnings were down from the
year-earlier level due primarily to significantly lower commodity price
realizations.
Total volumes during the quarter increased approximately 4% year-over-year to
195.9 billion cubic feet equivalent (Bcfe), or 2,129 million cubic feet
equivalent per day (MMcfe/d), 76% of which was natural gas and 24% liquids.
Natural gas volumes decreased 3% year-over-year, led by an approximately 6%
decrease in the U.S. volumes to 1,128 MMcf/d, and more than 2% decrease in
Canadian volumes to 219 MMcf/d.
Grupo Televisa Reports Mixed Results
Grupo Televisa S.A. (NYSE: TV), the largest media company in Mexico, reported
mixed financial results for the third quarter 2009. Quarterly consolidated net
revenue of $970 million was an improvement of 5.5% over the prior-year quarter.
However, this was below the Zacks Consensus Estimate of $983 million.
The year-over-year increase in the top-line was mainly attributable to healthy
revenue growth in Sky, Cable & Telecom, Programming Exports, Pay television
Networks, and Other Business segments, partially offset by a fall in revenue in
Publishing and Television Broadcasting segments.
OGE Energy Tops Expectations
OGE Energy Corp. (NYSE: OGE) reported third quarter earnings per share (EPS) of
$1.40, topping the Zacks Consensus EPS estimate of $1.34. However, EPS in the
reported quarter came a dime short, compared to the year-ago EPS of $1.50.
Earnings were boosted in the reported quarter by strong results at Oklahoma Gas
and Electric Company (OG&E), offset by cooler weather in the OG&E service
territory, lower commodity prices in the Enogex midstream pipeline business and
an increase in the number of shares outstanding.
Edison Pushes Past Estimate
Edison International's (NYSE: EIX) adjusted EPS of $1.09 in the third quarter of
fiscal 2009 pushed past the Zacks Consensus Estimate of $1.05 by 4 cents.
However, adjusted EPS for the quarter fell short of the year-ago $1.46 EPS.
On a GAAP basis, the company reported quarterly EPS of $1.23, compared to $1.33
in the year-ago quarter. The discrepancy between GAAP and adjusted EPS were due
to non-cash accounting benefit from the final regulatory approval to transfer
its Mountainview power plant to utility rate base.
Dynegy Sunk on Charges
Dynegy Inc. (NYSE: DYN) has reported a net loss of $212 million, or 25 cents per
share in the third quarter 2009, compared to a net income of $605 million, or 72
cents per share in the year-ago quarter. The net loss in the reported quarter
was primarily driven by asset impairment charges and mark-to-market losses. The
company recorded mark-to-market losses of $128 million ($78 million after tax),
compared to mark-to-market gains of $889 million ($542 million after tax) in the
year-ago quarter.
In the reported quarter, however, adjusted earnings rose to $388 million,
compared to $269 million in the year-ago quarter. The growth was primarily
driven by the sale and assignment of a multi-year power sales contract, higher
capacity and tolling revenues and higher realized energy prices in the Midwest.
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