Stocks in Focus: Keryx Biopharmaceuticals, Standard Pacific, Health Management, BioScrip (SBWire)
Jackpotpennystocks.com, an investor research portal specializing in several sectors including biotech and healthcare and tech stocks on the U.S. market, issues news updates on the following stock:- Keryx Biopharmaceuticals (NASDAQ:KERX) shares gained 5.52% to $8.03. The company, on Marc h 11, announced its results for the fourth quarter and year ended December 31, 2012. The net loss for the 4th quarter ended December 31, 2012 was $6.6 million, or $0.09 per share versus $8.4 million for quarter 2011, representing a decrease of $1.8 million and Net loss for the year ended December 31, 2012, was $22.7 million versus $28.1 million for the year ended December 31, 2011, representing a decrease in net loss of $5.4 million. At December 31, 2012, the Company had cash, cash equivalents, interest receivable, and investment securities of $14.7 million, as compared to $39.5 million at December 31, 2011.
Is Keryx Biopharmaceuticals (KERX) Going to Burn These Hedge Funds? (InsiderMonkey)
Keryx Biopharmaceuticals (NASDAQ:KERX) was in 6 hedge funds’ portfolio at the end of December. KERX investors should pay attention to a decrease in support from the world’s most elite money managers of late. There were 7 hedge funds in our database with Keryx Biopharmaceuticals (NASDAQ:KERX) positions at the end of the previous quarter. In the 21st century investor’s toolkit, there are a multitude of metrics investors can use to analyze their holdings. A duo of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can trounce the S&P 500 by a solid amount.
Halliburton in Gulf spill settlement talks, takes charge (Reuters)
Halliburton Company (NYSE:HAL) is in talks to settle private claims against it in a trial to determine how to allocate blame for the 2010 Gulf of Mexico spill, the oilfield services company said on Monday, as it took a $1 billion pretax charge for a possible deal. Disclosure of the “court-facilitated” talks helped push Halliburton shares up more than 3 percent, even though the charge pushed the company to a first-quarter loss. The news came just days after the conclusion of court proceedings for the first phase of the trial over claims brought by the U.S. government and Gulf Coast states, as well as private parties affected by the worst U.S. offshore oil spill. While Halliburton is not the subject of direct government actions, BP plc (NYSE:BP) has tried to hold the company and rig owner Transocean LTD (NYSE:RIG) partly responsible for damages.
Halliburton Swings to Loss on Rising Litigation Reserves (WSJ)
Halliburton Company (NYSE:HAL) +4.17% swung to a first-quarter loss on a $637 million increase in reserves tied to litigation involving the Deepwater Horizon disaster. Chairman and Chief Executive Dave Lesar said Halliburton has “recently participated in court-facilitated settlement discussions with the goal of resolving a substantial portion of private claims” related to the Deepwater Horizon incident. “We are pursuing these settlement discussions because we believe that an early and reasonably-valued resolution is in the best interests of our shareholders.” Halliburton, the top seller of services for hydraulic fracturing used to extract oil and gas from shale energy fields in North America, has seen its margins pressured lately by higher fracking costs in oil-rich areas and weakening demand for services in natural-gas fields.
Halliburton Tops Estimates Yet Again (Zacks)
Major oilfield services provider Halliburton Company (NYSE:HAL) reported better-than-anticipated first quarter 2013 results – the fourth outperformance in the last 5 quarters – helped by robust showing from its international business. Earnings per share from continuing operations – excluding a charge associated with the Gulf of Mexico disaster in 2010 – came in at 67 cents, beating the Zacks Consensus Estimate of 58 cents. Following Baker Hughes Incorporated (NYSE:BHI) and Schlumberger Limited. (NYSE:SLB), Halliburton stepped up as the third member of the ‘big 4 oil service companies’ to post above consensus result. The remaining member of the contingent, Weatherford International Ltd (NYSE:WFT) , is scheduled to report next month.
Weak Fracking Market Could Deflate Halliburton’s Earnings (Forbes)
Halliburton Company (NYSE:HAL), the world’s second largest oil field services firm, will release its Q1 2013 earnings on April 22. Over the last year, the company’s performance has been impacted by weak North American land-based drilling and higher raw material costs while being offset by a better international performance and a stronger performance in the U.S. offshore market. In Q4, Halliburton’s revenues grew by 3% to around $7.3 billion year-over-year while income from continuing operations fell by almost 35% to around $592 million. In Q1, we expect results to be weighed down by North America yet again since natural gas drilling activity has dropped to its 14-year lows, causing weaker pricing for gas directed services. The firm is also expected to record a $30 million charge related to foreign exchange losses in Venezuela.
Futures Rise Before Housing Data; Halliburton (HAL) Gains (iStockAnalyst)
U.S. stock-index futures pointed to a higher opening on the Wall Street as investors digested corporate earnings reports and awaited data on existing home sales. Mini Dow Industrial Average futures rose 52 points to 14,522. The Nasdaq futures gained 16 points to 2,784.25. Standard and Poor’s 500 futures added 6.60 points to 1,554.20. At 10 am ET, the National Association of Realtors may report that existing home sales for March inched higher to 5.01 million from 4.98 million in February.
