BP plc (ADR) (NYSE:BP) stock declined 3.97% to $40.16 after the company posted second quarter company's pre-tax loss of $1.82 billion, as compared with last year's profit of $8.23 billion. Underlying RC profit, excluding items, was $3.69 billion, lower than $5.71 billion in 2011. Total revenues and other income fell to $94.89 billion from prior-year's $103.95 billion.
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BP's loss came from lower prices, reduced production and a write-down of assets. Its loss compares with a profit of $5.7 billion a year earlier. Revenue also fell 9 percent to $95 billion. It added $847 million as provisioning for the clean-up of the Gulf of Mexico oil rig disaster, while non-operating charges accumulated to $4.8 billion.
Cobalt International Energy, Inc. (NYSE:CIE) stock gained 5.47% to $25.45 after the company posted second-quarter net loss of $141 million, or $0.35 per share, from $19 million, or $0.05 per share, a year earlier. The company has no oil and gas revenue. Adjusted loss was $0.11 per share, while analysts had expected a loss of $0.09 per share.
Moreover, the company said that its Cameia No. 2 appraisal well off the Angolan shores has found a large hydrocarbon accumulation and discovered oil deposits deeper than those found in Cameia No. 1.
Cummins Inc. (NYSE:CMI) stock gained 6.42% to $96.31 after the company reported second quarter net income of $469 million or $2.47 per share, as against $505 million or $2.60 per share in the prior-year quarter. Adjusted net income for the quarter grew to $2.45 per share from $2.41 per share in the year-ago quarter. Sales for the quarter declined 4% to $4.45 billion. Analysts expected the company to earn $2.28 per share on revenue estimate of $4.47 billion.
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Ecolab Inc. (NYSE:ECL) shares fell 3.17% to $65.99 after the company posted second quarter net income of $184.5 million or $0.62 per share, as compared to $125.9 million or $0.53 per share in the prior-year quarter. Adjusted net income for the quarter increased 13% to $0.72 per share from $0.64 per share in the year-ago quarter. Net sales for the quarter surged 74% to $2.96 billion from $1.70 billion in the same quarter last year. Analysts expected the company to earn $0.72 per share on revenue of 3.02 billion.
Entergy Corporation (NYSE:ETR) shares declined 0.62% to $72.63 after the company posted second-quarter net income of $365 million or $2.06 per share versus $315.6 million or $1.76 per share in the same quarter last year. Operating revenues decreased to $2.52 billion from $2.8 billion in the prior year. Analysts expected the company to report earnings of $1.66 per share on revenues of $2.70 billion for the quarter.