On Friday, Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), gained 2.01% to $10.13.
Petrobras, stated first quarter 2015 earnings after markets closed on Friday afternoon. The Brazilian oil major stated diluted earnings per share of $0.14 on revenues of $25.97 billion. In the year-ago quarter the company stated EPS of $0.17 on revenues of $34.49 billion. EPS was about double analysts’ consensus.
According to Reuters, Petrobras, said profit in the three months ending March 30 fell 1.2 percent to 5.33 billion reais ($1.78 billion) contrast with 5.39 billion reais a year earlier, according to a filing with Brazil’s securities regulator CVM.
The result exceeded expectations of a 2.5 billion-real quarterly profit, the average estimate of seven analysts surveyed by Reuters. One of the analysts predicted a net loss.
Petrobras also stated net sales, or sales minus sales taxes, of 74.4 billion reais, broadly in line with expectations of 79.4 billion reais.
Petróleo Brasileiro S.A. Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets.
Shares of Frontline Ltd. (NYSE:FRO), inclined 8.53% to $2.80, during its last trading session, as oil tanker rates rose due to accelerated shipments from Saudi Arabia and Iraq.
Ships earned $81,513 a day shipping 2 million barrels of crude oil on the benchmark route from Saudi Arabia to Japan on Friday, according to Bloomberg. The rate is 13% higher than the Thursday rate, and the highest for the time of year since 2009.
The raised shipments come after Saudi Arabia told OPEC it produced an average of 10.3 million barrels of oil a day in April. Iraq shipments will grow by about 700,000 barrels to 3.75 million barrels in May, according to Bloomberg.
Frontline Ltd., a shipping company, through its auxiliaries, owns and operates oil tankers and oil/bulk/ore carriers. The company provides seaborne transportation of crude oil and oil products. Its very large crude carriers (VLCCs) primarily transport crude oil from the Middle East Gulf to the Far East, Northern Europe, the Caribbean, and the Louisiana Offshore Oil Port, in addition to Suezmax tankers trade in the Atlantic Basin, the Middle East, and Southeast Asia.
At the end of Friday’s trade, Shares of International Business Machines Corporation (NYSE:IBM), lost -0.45% to $173.26.
International Business Machines Corporation, declared that IBM Global Business Services has been named a leader in the new IDC MarketScape: Worldwide Digital Transformation Consulting and System Integration Services 2015 Vendor Assessment.
The IDC MarketScape report cited the “future business strategy and future offering strategy of IBM as its greatest strengths.” Additionally, according to IDC analysis and buyers’ perceptions, IBM was rated very highly for its ability to meet digital transformation project timelines.
According to a recent IBM Institute for Business Value study, Digital Reinvention: Preparing for a Very Different Tomorrow, most organizations have not prepared for the “digitally-charged future.” In fact, more than 60 percent of CEOs told IBM that they have yet to form an integrated physical and digital strategy. IBM Interactive Experience — recently named the largest global digital agency for the second successive year — brings the physical and digital worlds together to create market-leading experiences.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support.
Finally, Eversource Energy (NYSE:ES), ended its last trade with 1.30% gain, and closed at $49.17.
Eversource Energy, stated first quarter 2015 earnings of $253.3 million, or $0.80 per share, contrast with first quarter 2014 earnings of $236 million, or $0.74 per share. Not taking into account integration costs of $4 million in 2015 and $5.8 million in 2014, Eversource earned $257.3 million, or $0.81 per share, in the first quarter of 2015, contrast with $241.8 million, or $0.76 per share, in the first quarter of 2014.
Also, the legal name change of Northeast Utilities to Eversource Energy was approved at the company’s 2015 Annual Meeting of Shareholders and the Eversource Energy Board of Trustees declared a regular quarterly dividend of $0.4175 per share, payable June 30, 2015 to shareholders of record as of May 29, 2015.
Eversource Energy, a public utility holding company, through its auxiliaries, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the generation, transmission, and distribution of electricity; and distribution of natural gas.
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