EdgeWater 10/20/2010 11:24:46 PM
News / Business

Energy Stocks Opens Higher (HAL, BP, MEE, CVX)

Energy Stocks Opens Higher

Halliburton Company (NYSE:HAL) went up 0.87% to $33.47. Yesterday, the company said that its net income surged to $544 million, or 60 cents per share, compared to $262 million, or 29 cents per share, in the year-ago quarter. Revenue rose to $4.67 billion from $3.59 billion.

Analysts, on average, expected the company to report earnings of 55 cents per share on revenue of $4.63 billion.

The stock went up more than 11% year-to-date.

BP plc (ADR) (NYSE:BP) added 0.37% to $41.09. Yesterday, the company agreed to sell its upstream businesses and associated interests in Venezuela and Vietnam to its Russian joint venture TNK-BP for a total of $1.8 billion.

The 52-week range of the stock is $26.75-$62.38. The stock went down more than 29% year-to-date.

Massey Energy Company (NYSE:MEE) advanced 2.20% at $38.15 on reports that the company might be looking for a possible sale. The stock has a 52-week range of $25.85-$54.80.

Massey Energy Company is a coal producer in the United States. It produces processes and sells bituminous coal of various steam and metallurgical grades, primarily of low sulfur content, through the 23 processing and shipping centers (Resource Groups).

Chevron Corporation (NYSE:CVX) is one of the most notable stock today and is up 1.12% to $83.72. Last week, the company said that it expects third-quarter earnings will come in below its second-quarter results. The latest results are due Oct. 29.

Analysts currently expect third-quarter earnings of $2.30 a share, down from $2.70 a share in the second quarter but up from $1.72 a share Chevron posted in the third quarter of 2009.

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