<< Read Full Article
<< Read Full Article
El Paso Posts Huge Loss on Charge
A big charge related to the sale of a refinery led El Paso(EP Quote) to post a billion-dollar loss in the second quarter. Its shares sold off on Instinet after the results were released.
The Houston energy company lost $1.19 billion, or $1.99 a share, in the latest quarter, compared with a loss of $45 million, or 8 cents a share, last year. Pro forma to exclude numerous charges and write-downs, the latest-quarter loss was $8 million, or 1 cent a share. Revenue fell to $1.68 billion in the quarter from $1.82 billion a year ago.
Analysts were forecasting pro forma earnings of 13 cents a share, according to Thomson First Call. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,471.50 | 1,106.41 | 2,190.31 | 35.40 |
Oil *
71.66
|
|
UP
65.67
|
UP
4.06
|
DOWN
0.55
|
UP
0.58
|
10 Yr
3.54%
SPDR Gold
109.32
|
|
+0.63%
|
+0.37%
|
-0.03%
|
+1.67%
|
Data delayed 20 minutes |
Connect with TheStreet