Five Stocks Catch Investors’ Attention on the Back of Financial Results

Williams Companies and Williams Partners LP Post Quarterly Results

Shares of Williams Companies Inc (NYSE:WMB) have gained nearly 6% after the company posted its second-quarter earnings and said it would slash its dividend by 69% to $0.20 a share in order to reinvest about $1.7 billion into Williams Partners LP (NYSE:WPZ), its affiliated company. Williams Companies posted a loss of $405 million, or $0.54 a share for the quarter, compared with a profit of $114 million a year ago. Its adjusted EPS in the quarter amounted to $0.19, less than the estimated $0.22. The company said it continues to make progress on its cost cutting and restructuring measures announced in May. Williams Partners LP (NYSE:WPZ) also posted its second-quarter results, which included a net loss of $90 million or $0.49 per share, versus an income of $0.14 per share posted a year earlier. Williams Companies’ CEO Alan Armstrong said in a statement that strong performance of the company in the quarter shows that Williams is benefiting significantly from the growing natural gas demand. Mr. Armstrong said that the company expects to add about 7.6 Bcf per day of capacity to markets served by Transco through 2020. A total of 52 funds tracked by Insider Monkey owned shares of Williams Companies Inc (NYSE:WMB) at the end of March.

 Integrated Device Technology Posts Q1 Results

Integrated Device Technology Inc (NASDAQ:IDTI)’s stock has slid by more than 9% following the company reporting its fiscal 2017 first-quarter results. The semiconductor company’s EPS of $0.36 was in-line with the analysts’ consensus estimate, while revenue amounted to $192.1 million, versus the consensus estimate of $191.06 million. In a statement, Integrated Device Technology Inc (NASDAQ:IDTI) CEO, Greg Waters, said that first quarter revenue grew by 19% year-over-year due to broad strength across consumer, communications, automotive and industrial segments. As of the end of the first quarter, 29 funds among those tracked by Insider Monkey are bullish on Integrated Device Technology Inc (NASDAQ:IDTI), down from 37 funds a quarter earlier.

Dislcosure: none