Crude futures are below $42 per barrel this morning as traders brace for the upcoming rig count release on Friday. That news affects some of the companies that have just released earnings, which include Suncor Energy Inc. (USA) (NYSE:SU), Yandex NV (NASDAQ:YNDX), GoPro Inc (NASDAQ:GPRO), Thermo Fisher Scientific Inc. (NYSE:TMO), and AstraZeneca plc (ADR) (NYSE:AZN). Let’s take a closer look at the results of those five companies and see how the smart money has been trading those equities.
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Forest Fires Hurt Suncor
Suncor Energy Inc. (USA) (NYSE:SU) reported an operating loss of CAD$0.36 ($0.27) per share and cash flow from operations of CAD$916 million ($696 million) for its second quarter, missing bottom-line estimates by CAD$0.15 ($0.11) per share. The losses stemmed largely from the forest fires that ravaged the Fort McMurray region for several months, which played a big part in Suncor’s total upstream production dropping to 330,700 BOE per day from 559,900 BOE per day in the second quarter of 2015. On a positive note, management reaffirmed their commitment to cutting capex and the company declared a CAD$0.29 ($0.22) dividend, which is unchanged from the quarter prior. Warren Buffett‘s Berkshire Hathaway owned 30.00 million shares of Suncor Energy Inc. (USA) (NYSE:SU) at the end of the first quarter.
Yandex Shares 3% Higher After Report
Yandex NV (NASDAQ:YNDX) is in the spotlight today after the Russian search engine reported second quarter earnings of $0.10 per share on sales of $280.7 million. Yandex’s adjusted net income rose by 40% year-over-year and its revenue jumped by 30%. The company’s share of the Russian search market averaged 57% in the second quarter, down slightly from 57.6% in the first quarter. In terms of guidance, management expects 2016 revenue to grow by 19%-to-22% year-over-year. 27 funds that we track were long Yandex NV (NASDAQ:YNDX) as of March 31.
On the next page we’ll examine how GoPro, Thermo Fisher, and AstraZeneca performed during their latest quarters.