Stocks In Focus: BP, CEPH, WYNN
Wednesday, July 21, 2021 8:31 AM

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Apache Corp. (NYSE:APA) late Tuesday agreed to acquire $7 billion worth of BP Plc's (NYSE: BP) upstream assets in the US, Canada and Egypt. BP shares rallied more than 3% in pre-market trading on Wednesday. 

Cephalon, Inc. (NASDAQ: CEPH) on Wednesday announced that, based on preliminary financial results, it expects sales and basic adjusted earnings per share for the second quarter 2010 to exceed its previously issued guidance driven largely by strong product sales. The company now anticipates that sales for the second quarter 2010 will be between $705 million to 715 million, up from its prior sales forecast of $645 million to 670 million. It now anticipates adjusted earnings per share in the range of $2.17 to $2.22, up from its previous guidance in the range of $1.65 to 1.75. Analysts currently expect the company to report second-quarter earnings of $1.67 per share on revenue of $682.99.The company also suspended its previously issued full-year 2010 financial guidance. The company will report second quarter 2010 results on Tuesday, July 27, 2021 at 5:00 p.m. At that time, it will update full-year 2010 financial guidance.

Wynn Resorts, Limited (NASDAQ: WYNN) on Wednesday announced preliminary expectations of financial results for Wynn Las Vegas. The company reported that net revenues increased 1.7% versus the same period last year to $318 million. Adjusted property EBITDA was $65.1 million for the second quarter of 2010, compared to $75.5 million for the second quarter of 2009. On a GAAP basis, operating loss for its Las Vegas property for the second quarter of 2010 widened to $17.2 million from an operating loss of $8.3 million in the 2009 period. The company also said that the Las Vegas unit plans to raise $1.32 billion through a private offering of first mortgage notes due 2020.

Disclosure: Author doesn’t own any of the stocks discussed here.

 

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Market news:

  • Egypt activists struggle to monitor election Nov 25, 2021 03:21 AM

    • CAIRO - Rights activists in Egypt are struggling to ensure they will be able to monitor parliament elections Sunday that they expect to be plagued by rigging.
    • Egyptians who witness any cheating, police intimidation or violence will be able to send messages via mobile phones, Facebook and Twitter to volunteers staffing a website called U-shahid.com, who will then post the location and nature of the violations on a map of Egypt.
    • Past elections in Egypt have been riddled with vote rigging in favor of the ruling party, ensuring its hold on parliament, according to human rights groups.
      • Walker leads UConn to Maui title over Kentucky Nov 25, 2021 03:20 AM

        • LAHAINA, Hawaii - The Connecticut Huskies leave Hawaii with a big trophy and bigger expectations.
        • Finishing off a dominating tournament, Kemba Walker scored 29 points and Connecticut beat a Top 10 team for the second straight day, knocking off No.
        • 8 Kentucky with an 84-67 rout to win the Maui Tournament on Wednesday night.
          • Powerful storm to bring snow, ice to the Dakotas Nov 25, 2021 03:18 AM

            • BISMARCK, N.D. - A powerful storm that pummeled much of the West is promising to bring its chaotic mix of snow, sleet and ice to much of the Dakotas on Thanksgiving Day.
            • Meteorologists warned residents in the Dakotas to expect a range of messy wintery weather, from freezing drizzle in the eastern two-thirds of South Dakota to a possible blizzard in eastern North Dakota.
            • "Like the Boy Scouts, you've got to be prepared for a North Dakota winter or you're asking for your own problems," said Gerald Miller, 52, who plowed roads on his farm just east of Bismarck on Wednesday.
              • Pope's remarks on condoms sow widespread confusion Nov 25, 2021 03:18 AM

                • RALEIGH, N.C. - Some Roman Catholics are confused.
                • Days after the release of Pope Benedict XVI's comments that condoms can be justified to prevent the spread of HIV, there is widespread confusion about exactly what he was trying to say.
                • "It's a mess," said John Haas, president of the National Catholic Bioethics Center in Philadelphia, which advises church leaders, hospitals and Vatican offices.
                  • Airport protest never takes off, few delays seen Nov 25, 2021 03:18 AM

                    • CHICAGO - The big Opt-Out looked like a big bust Wednesday as most of the Thanksgiving travelers selected for full-body scans and pat-down searches chose to submit to them rather than create havoc on one of the busiest flying days of the year.
                    • For days, activists had waged a loosely organized campaign on the Internet to encourage airline passengers to refuse full-body scans and insist on a pat-down in what was dubbed National Opt-Out Day.
                    • "It was a day at the beach, a box of chocolates," said Greg Hancock, 61, who breezed through security at the Phoenix airport on the way to a vacation in California.

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