Monday, August 6, 2012

Movers & Shakers (CBS, RIO, LVS, CNQ)

CBS Corporation (NYSE:CBS) shares jumped 6.11% and closed at $35.06 in the last trading session. The company last week posted second-quarter net profit of $427 million or $0.65 per share, versus $395 million or $0.58 per share in the same quarter last year. Total revenues dropped to $3.48 billion from $3.59 billion in the prior-year quarter. Analysts expected the company to earn $0.59 per share on revenue estimate of$3.53 billion for the quarter.

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Rio Tinto plc (ADR) (NYSE:RIO) shares increased 5.29% and closed at $47.59 in yesterday’s session. RBC Capital reaffirmed their rating on shares of Rio Tinto in a research note released on Friday morning.

Additionally, the company last week also said it is to close its office in Sydney, as the company aims to slash costs amid falling prices of key commodities such as iron ore.

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Las Vegas Sands Corp. (NYSE:LVS) shares climbed 4.99% and closed at $38.75 in the previous trading session. The shares of the company had its target price trimmed by Topeka Capital from $65.00 to $52.00 in a report issued last week. They currently have a buy rating on the stock.

The company had posted worse-than-expected quarterly earnings last month, hit by lower profits at casinos in its key Asian markets that had previously helped offset flagging U.S. revenue. The company had posted second-quarter net income of $240.6 million, or $0.29 a share, down from $367.6 million or $0.45 a share a year earlier. Analysts expected profit of $0.60 a share.

Canadian Natural Resource Ltd (USA) (NYSE:CNQ) shares increased 4.81% and closed at $27.89 in yesterday’s session. The 52 week trading range for the company is $25.01 - $41.38. The shares of the company had declined 22% in the last one year. The company is a Canadian independent energy company engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas liquids (NGLs), and natural gas production.

Should CNQ continue To Move Higher?

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