Pinnacle Entertainment Jumps On Solid Earnings (PNK,RIMM,COP,SAVE,BAC)

Pinnacle Entertainment, Inc(NYSE:PNK) shares rose 2.52% to $11.38 after the company reported its a better-than-estimated first quarter earnings. The company said that it lost $1 million, or 2 cents per share, reversing a year ago profit of $2.4 million, or 4 cents per share. Excluding certain costs, the company would have earned 33 cents, topping analysts’ view by 12 cents. Revenue during the quarter grew 5% t to $293 million from $280.1 million as the company made more money from its hotel, shopping and gambling businesses and from selling food and drinks. Analysts were estimating $287.4 million in revenue.Revenue for the company's St. Louis business increased 7.3% to $100.4 million. L'Auberge Lake Charles' revenue rose 9.1% to $96.9 million and Belterra's revenue climbed 4.2% to $38.3 million. Boomtown New Orleans' revenue fell 10.8% to $32.9 million, faced with a tough year-ago comparison. Revenue for Boomtown Bossier City slipped 2% to $22.6 million.

Research In Motion Limited (USA)(NASDAQ:RIMM) shares are high volatility as the stock is down 4.51% to $13.65 after gaining over 2.505 earlier in the session. Shares of the company have hammered down  by about 72% over the past one year as the company has been finding to difficult to maintain its market share in the smart phone market as its rival Apple Inc.(NASDAQ:AAPL) has been showing solid strength.RIM has been handing out a BlackBerry 10 prototype phone with software almost identical to that of the PlayBook, and has talked up the brilliance of its virtual keypad and camera software. IDC believes RIM's global smartphone share fell over 50% Y/Y in Q1 to 6.7%.

ConocoPhillips(NYSE:COP) shares moved up 3.50% after completing the spinoff of Phillips 66 its refining, marketing, chemicals and transportation arm, creating the newest independent U.S. refiner.Phillips 66 aims to focus on growth in its midstream and chemical segments, more than double shale oil run at its refineries to 460,000 barrels per day and double refined product exports to 200,000 barrels per day within two years. Phillips 66 also is marketing its 247,000 bpd Alliance refinery in Belle Chasse, Louisiana. Including Trainer, the company owns or has an interest in 11 U.S. refineries, three in Europe and one in Asia.

Spirit Airlines Incorporated(NASDAQ:SAVE) was almost flat at $24 after the company that it earned $23.4 million, or 32 cents a share on revenue of $301.5 million in its first-quarter. On an adjusted basis, the company would have earned 33 cents a share. Analysts were estimating the company to report 32 cents a share on revenue of $301.5 million.
Bank of America Corp(NYSE:BAC) has recovered all its prior week’s losses, now up 3.10% to $8.36. This morning as per reports from Bloomberg, the bank plans to cut more than 300 jobs from the corporate and investment bank and trading units run by Thomas K. Montag as underperformers are culled from its ranks The firm will target workers on desks where business has slowed, said the person, who declined to be identified because the Charlotte, North Carolina-based firm’s plans are private.