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STOCK MOVERS

U.S. Movers: Cabot Oil & Gas, General Mills, KBR, United States Cellular


Author: Mukesh Buch
ticker.com
Last Update: 11:32 AM EST February 23 2018

11:25 AM New York City, New York Cabot Oil & Gas net loss narrowed on higher production and prices. Cinemark reported strong quarterly results. Entergy net loss narrowed on improved segment performance. General Mills agreed to acquire Blue Buffalo Pet Products for $8 billion.

Tollbooth Index increased 78.46 or 0.5% to 14,405.62.

Earnings Review

Cabot Oil & Gas Corporation (COG) jumped 2.5% or 59 cents to $24.48 after the oil and gas producer reported revenues in the fourth-quarter ending in December soared 26.5% from a year ago to $400.5 million.

Net loss in the quarter narrowed to $44.4 million or 10 cents per diluted share from $292.8 million or 63 cents in the same quarter last year.

Cabot Oil & Gas total production soared 5.1% to 172.6 billion cubic feet equivalent from 164.2 Bcfe and sales price of natural gas surged 10% to $2.15 per thousand cubic feet, while crude prices were up by 23.5% to $54.77 per barrel.

Cinemark Holdings, Inc (CNK) advanced 3.7% or $1.48 to $41.20 after the motion picture exhibitor said revenues in the fourth-quarter ending in December jumped 7.1% from a year ago to $750 million.

Net income in the quarter surged 23.5% to $95.1 million or 82 cents per diluted share from $77 million or 66 cents in the same quarter last year.

Entergy Corporation (ETR) gained 2% or $1.53 to $76.51 after the electric power producer and distributor reported revenues in the fourth-quarter ending in December fell 0.9% from a year ago to $2.6 billion.

Net loss in the quarter narrowed to $479.1 million or $2.66 per diluted share from $1.8 billion or $9.88 in the same quarter last year.

General Mills, Inc (GIS) dropped 3.6% or $1.97 to $52.98 after the branded consumer foods maker agreed to acquire pet food maker Blue Buffalo Pet Products for $40 per share in cash or about $8 billion.

The transaction is expected to close by the end of General Mills'' fiscal 2018.

Blue Buffalo Pet Products Inc stock surged 16.8% to $39.86.

KBR, Inc (KBR) plummeted 8.7% or $1.55 to $16.22 after the professional services provider stated revenues in the fourth-quarter ending in December tumbled 21.9% from a year ago to $937 million.

Net in the quarter swung to profit $275 million or $1.94 per diluted share from a loss of $87 million or 61 in the same quarter last year.

Separately today, KBR agreed to acquire privately held technology and engineering services provider Stinger Ghaffarian Technologies, Inc without disclose of financial terms.

United States Cellular Corp (USM) soared 5.3% or $1.72 to $34.51 after the wireless telecommunication services provider reported revenues in the fourth-quarter ending in December increased 2% from a year ago to $1 billion.

Net in the quarter swung to profit $273 million or $3.18 per diluted share from a loss of $6 million or 7 in the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc