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Zacks #1 Stocks on the Move 07/31/2015

Company Name Symbol %Change
SKYWEST INC SKYW
18.37%
ELLIE MAE IN ELLI
13.48%
EXPEDIA NEW EXPE
12.85%
STONERIDGE I SRI
11.65%
NCI INC NCIT
11.61%

Tale of the Tape

Chevron (CVX) Misses on Q2 Earnings on Crude Price Plunge

Posted Fri Jul 31, 10:19 am ET

by Zacks Equity Research

San Ramon, CA-based Chevron Corp. (CVX) is one of the largest publicly traded oil and gas companies in the world, based on proved reserves. It is engaged in oil and gas exploration and production, refining and marketing of petroleum products, manufacturing of chemicals, and other energy-related businesses.

Currently, Chevron has a Zacks Rank #3 (Hold) but that could change following its second quarter 2015 earnings report which has just released. Coming to earnings surprise history, the company has an excellent record: its beaten estimates in each of the last four quarters at an average rate of 30.81%.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Chevron misses on earnings. Earnings per share came in at 30 cents, well below the Zacks Consensus Estimate of $1.13. Excluding one-time items (non-cash charges and asset sales), the company earned around 75 cents, still lower than consensus.

Revenue: Revenues above expectations. Revenues of $40,357 million were ahead of the Zacks Consensus Estimate of $29,533 million.

Key Stats: Chevron’s total production of crude oil and natural gas edged up 2% from the year-earlier level to 2,596 thousand oil-equivalent barrels per day (MBOE/d). The U.S. output increased 9.5% year over year, partially offset by a 0.6% decline in the company’s international operations (accounting for 72% of the total). However, gains on the production front could not make up for the sharp downfall in oil prices, the net effect resulting in a huge loss for the upstream segment – at $2,219 billion.

Chevron’s downstream segment achieved earnings of $2,956 million, considerably higher than the profit of $721 million last year. The results were buoyed by higher refinery margins on the back of lower feedstock costs.

Stock Price: Chevron shares are down almost 2.4% in the pre-market trading session.

Check back later for our full write up on this Chevron earnings report later!

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Interface (TILE) Catches Eye: Stock Adds 6.3% in Session

Posted Fri Jul 31, 09:46 am ET

by Zacks Equity Research

Interface Inc. (TILE) was a big mover last session, as the company saw its shares rise over 6% on the day. The upside was driven by the company’s announcement of better-than-expected earnings for the second quarter of 2015 along with an increase in the regular quarterly dividend. This led to solid volume too with far more shares changing hands than in a normal session. Yesterday’s rally breaks the recent trend of the company, as the stock is now trading above the volatile price range of $23.54 to $25.01 in the past one-month time frame.

The company has seen no estimate revisions over the past 30 days, while the Zacks Consensus Estimate remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Interface currently sports a Zacks Rank #1 (Strong Buy).

Another well-ranked stock in the same industry is Culp, Inc. (CFI), which carries the same Zacks Rank as Interface.

Is TILE going up? Or down? Predict to see what others think: Up or Down

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Seagate (STX) Beats on Q4 Earnings

Posted Fri Jul 31, 09:45 am ET

by Zacks Equity Research

The storage solution provider, Seagate Technology Public Limited Company (STX) is mainly known as one of the largest manufacturers of hard disk drives (HDD) which caters to the needs of individual and small businesses. However, for the past few years the company is focusing on the larger enterprise segment, where technology upgrades and cloud-related investments are on the rise. Moreover, Seagate’s cloud-based applications have generated ample customer interest.

However, increased investment in new and innovative products, sluggish macroeconomic conditions and a flattish price environment, and severe competition from other players in the space has made this sector a very tough one to be in for the short term. Due to this, investors are eagerly awaiting STX’s earnings report in order to set the record straight and to give some guidance on where this company is heading.

This is especially true given the recent earnings estimate revisions for STX as the consensus estimate has been going slightly lower. However, STX does have somewhat decent history when it comes to recent earnings reports as the stock has beaten estimates once, meets twice and misses once in the last four quarters, making for an average surprise of approximately 1.62%.

Currently, STX has a Zacks Rank #5 (Strong Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: STX beat on earnings. Our consensus called for EPS of 65 cents, and the company reported EPS of 77 cents (these figures take out stock option expenses).

Revenue: Revenues missed. Seagate posted revenues of $2.927 billion, compared to our consensus estimate of $3.061 billion.

Key Stats: During the quarter, STX shipped (HDD only) 52 million units compared with 49.3 million in the year-ago quarter. Average selling price for the quarter stood at $60.0, flat on a year over year basis. However, prices were down from $62 in the previous-quarter.

Check back later for our full write up on this STX earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Cavium (CAVM) in Focus: Stock Moves 6.4% Higher

Posted Fri Jul 31, 09:39 am ET

by Zacks Equity Research

Cavium, Inc. (CAVM) was a big mover last session, as the company saw its shares rise above 6% on the day. The upside came on solid volume with far more shares changing hands than in a normal session. It breaks the recent trend for the company, as the stock is now trading above the volatile price range of $62.85 to $67.91 in the past one-month time frame.

In the last 30 days, the company has seen two downward estimate revisions and its Zacks Consensus Estimate also moved lower, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.

Cavium holds a Zacks Rank #3 (Hold).

A better-ranked Semiconductor stock is Ambarella, Inc. (AMBA), which sports a Zacks Rank #1 (Strong Buy).

Is CAVM going up? Or down? Predict to see what others think: Up or Down

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

New Strong Sell Stocks for July 31st

Posted Fri Jul 31, 09:30 am ET

by Zacks Equity Research

Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) list today:
 

  • Alcatel Lucent SA ( ALU )
  • Alliance Holdings GP, L.P. ( AHGP )
  • Artisan Partners Asset Management Inc (APAM )
  • Bank of Marin Bancorp (BMRC)
  • Carmike Cinemas, Inc. (CKEC)

View the entire Zacks Rank #5 List.

 

New Strong Buy Stocks for July 31st

Posted Fri Jul 31, 09:30 am ET

by Zacks Equity Research

Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) list today:
 

  • ACI Worldwide Inc (ACIW)
  • Active Power, Inc. (ACPW)
  • AGCO Corporation (AGCO)
  • American River Bankshares (AMRB)
  • Ares Capital Corporation (ARCC)

View the entire Zacks Rank #1 List.

 

Royal Caribbean (RCL) Beats Q2 Earnings and Revenues

Posted Fri Jul 31, 09:27 am ET

by Zacks Equity Research

Royal Caribbean Cruises Ltd. (RCL) operates as a global cruise and vacation company. Royal Caribbean has adopted a strategy to grow beyond its familiar itineraries and capitalize on the opportunities presented by the fast-growing Asian cruise market.

Strong marketing initiatives have been helping the company to keep its booking strong over the past few years at most of its itineraries, thereby resulting in improvement in revenue yields. Its consistent efforts to reduce fuel consumption have aided the company to generate profits.

Investors should also note the recent earnings estimate revisions for RCL, as the consensus estimate has remained stable. However, Royal Caribbean has posted positive earnings surprises for three out of four quarters, making for an average positive earnings surprise of around 11.48%.

Currently, RCL has a Zacks Rank #3 (Hold) but that could change following Royal Caribbean’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: RCL beats on earnings. Our consensus earnings estimate called for EPS of 72 cents per share, and the company reported EPS of 84 cents instead. Investors should note that these figures take out stock option expenses.

Revenues: RCL reported revenues of $2.058 billion. This beat our consensus estimate of $2.045 billion.

Key Stats to Note: On a constant currency basis, net yields were up 4.2% year over year, modestly better than the guidance due to strength in the Caribbean and China. Net cruise costs (NCC), excluding fuel, were up 3.4% on a constant currency basis, which was better than guidance, mainly driven by the timing of the expenses.

The company expects adjusted earnings per share to be $2.70 in the third quarter of 2015. Adjusted earnings in 2015 are expected to be in the range of $4.65 to $4.75 per share, up from the prior guidance of $4.45 to $4.65 per share. The increased outlook reflects the company’s expectation of beneficial currency and fuel rates.

Stock Price: RCL shares were up by more than 4.3% now following the release.

Check back later for our full write up on this RCL earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Phillips 66 (PSX) Beats Q2 Earnings and Revenue

Posted Fri Jul 31, 09:27 am ET

by Zacks Equity Research

Phillips 66 (PSX) is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company operates through the four business segments, namely, Midstream, Chemicals, Refining, and Marketing and Specialties.

Currently, Phillips 66 has a Zacks Rank #3 (Hold) but that could change following its second quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: Phillips 66 beats on earnings. Earnings per share from continuing operations (excluding special items) came in at $1.83, above the Zacks Consensus Estimate of $1.81.

Revenue: Revenues of $29.1 billion came above the Zacks Consensus Estimate of $25.3 billion.

Key Stats:

The Midstream segment generated adjusted quarterly earnings of $48 million compared with $108 million in the year-ago quarter. The Chemicals segment generated adjusted earnings of $295 million as against $324 million in the comparable quarter last year. TheRefining segment generated adjusted earnings of $604 million compared with earnings of $390 million in the prior-year quarter. Marketing and Specialties (M&S) earnings were $182 million, up from $162 million reported in the comparable quarter last year.

Check back later for our full write up on this Phillips 66 earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

ExxonMobil (XOM) Q2 Earnings Miss, Revenues Beat

Posted Fri Jul 31, 09:25 am ET

by Zacks Equity Research

Irving, TX-based ExxonMobil Corporation (XOM) is the world’s largest publicly traded oil company, engaged in oil and natural gas exploration and production, petroleum products refining and marketing, chemicals manufacture, and other energy-related businesses. The company divides its operations into three segments: Upstream, Downstream and Chemicals.

Currently, ExxonMobil has a Zacks Rank #3 (Hold) but that could change following its second quarter 2015 earnings report which has just released. Coming to earnings surprise history, the company has a track record of delivering positive earnings surprises. It has beaten estimates in all the last four quarters at an average rate of 19.72%.

We have highlighted some of the key quarterly details from the just-released announcement below:

Earnings: ExxonMobil miss on earnings. Earnings per share came in at $1.00, below the Zacks Consensus Estimate of $1.11.

Revenue: Revenues above expectations. Revenues of $74,113 million were higher than the Zacks Consensus Estimate of $66,371 million.

Key Stats: Production averaged 3,979 million barrels of oil-equivalent per day (MMBOE/d), up 3.6% year over year. Liquid production increased 11.9% year over year to 2.291 million barrels per day. Natural gas production was 10,128 MCF/d (millions of cubic feet per day), down 5.8% from the year-ago period.

ExxonMobil's refinery throughput averaged 4.3 million barrels per day (MMBPD), down 2.8% from the year-earlier level.

Check back later for our full write up on this ExxonMobil earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Phillips 66 (PSX) Beats Q2 Earnings and Revenue

Posted Fri Jul 31, 09:25 am ET

by Zacks Equity Research

Phillips 66 (PSX) is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company operates through the four business segments, namely, Midstream, Chemicals, Refining, and Marketing and Specialties.

Currently, Phillips 66 has a Zacks Rank #3 (Hold) but that could change following its second quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: Phillips 66 beats on earnings. Earnings per share from continuing operations (excluding special items) came in at $1.83, above the Zacks Consensus Estimate of $1.81.

Revenue: Revenues of $29.1 billion came above the Zacks Consensus Estimate of $25.3 billion.

Key Stats:

The Midstream segment generated adjusted quarterly earnings of $48 million compared with $108 million in the year-ago quarter. The Chemicals segment generated adjusted earnings of $295 million as against $324 million in the comparable quarter last year. The Refining segment generated adjusted earnings of $604 million compared with earnings of $390 million in the prior-year quarter. Marketing and Specialties (M&S) earnings were $182 million, up from $162 million reported in the comparable quarter last year.

Check back later for our full write up on this Phillips 66 earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

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