EOG Resources Inc. (EOG) reported third-quarter earnings of 81 cents per share, compared with the Zacks Consensus Estimate of 65 cents and a year-ago profit of $2.34. Before adjusting one-time items, earnings were 2 cents per share. Despite an increase in production volumes, earnings were down from the year-earlier level due primarily to significantly lower commodity price realizations.

Total volumes during the quarter increased approximately 4% year-over-year to 195.9 billion cubic feet equivalent (Bcfe), or 2,129 million cubic feet equivalent per day (MMcfe/d), 76% of which was natural gas and 24% liquids. Natural gas volumes decreased 3% year-over-year, led by an approximately 6% decrease in the U.S. volumes to 1,128 MMcf/d, and more than 2% decrease in Canadian volumes to 219 MMcf/d.

Crude oil and condensate production during the quarter was 59.5 thousand barrels per day (MBbl/d), up nearly 23% from the year-ago level. This was primarily driven by a

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Red Robin Gourmet Burgers Inc. (RRGB), the casual dining restaurant operator, recently reported dismal third-quarter 2009 results. The quarterly earnings of 37 cents per share missed the Zacks Consensus Estimate by a penny and fell 17.8% from 45 cents posted in the prior-year quarter.

Total revenue tumbled 10.4% year-over-year to $187 million, as cash-strapped consumers are either trading down to quick-service restaurants or preferring to eat at home, leading to fall in traffic and same-store sales.

Same-store sales fell 14.9% for company-operated restaurants, driven by a 13.8% decline in guest counts and a 1.1% fall in the average guest check. Management expects guest count to decline in fiscal year 2009. Same-store sales for franchised restaurants in the U.S. dropped 14.4% and franchised restaurants in Canada fell 0.2%.

Other operators in the casual dining segment are Darden Restaurants Inc. (DRI), Brinker International Inc. (EAT) and Cosi Inc. (COSI).

Red Robin's

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International Game Technology (IGT) reported adjusted earnings of 19 cents per share during fiscal 2009 fourth quarter, compared to a net income of 28 cents in the year-ago quarter. The result topped the Zacks Consensus Estimate by 3 cents.  In the quarter, the company recorded non-cash charges of approximately $77.2 million, or 26 cents per share to give effect to a reduction in the carrying value of its investment in Walker Digital Gaming Inc. These charges also included a decline in the value of its Las Vegas Gaming International investment and foreign deferred tax provision.  Total revenue fell 18.6% to $514.6 million from the year-ago quarter, primarily due to weakness in product revenue (45% of total revenue), which fell 23.2% to $231.4 million, while units shipped worldwide decreased 30% year-over-year. Revenue from Gaming Operations (55% of total revenue) decreased 14.4% year over year to $283.2 million due to the lower play ...

Patterson-UTI Inc. (PTEN) reported a narrower-than-expected third-quarter loss of 12 cents per share, reflecting a recovery in rig demand as customers prepare for ramped up drilling activities in 2010. The Zacks Consensus Estimate was pegged at a loss of 16 cents per share.  In the year-ago period, the company earned 69 cents per share. Revenue was down 71.1% year over year to $176.2 million. The negative comparisons compared to the year-ago period reflect lower drilling activity. The number of rigs operating during the quarter averaged 73 (70 located in the U.S. and 3 in Canada), compared to 276 average rigs operating in the third quarter of 2008. However, it was up from 63 rigs operating in the June quarter.  Contract Drilling  Contract Drilling revenue totaled $112.3 million (64% of total revenue), down approximately 77.5% year-over-year. Average revenue per operating day was $16,800, down 5.5% sequentially, while ...

Lion Energy Corp. is a Canadian exploration company focused on the acquisition, exploration and development of oil and gas reserves in Central and East Africa. The company today made a joint announcement with Southern Star Energy Inc. (SSEY.OB), a U.S.- based oil and gas exploration company, and Gold Star Resources Corp. (TSX-V: GXX), a Canadian resource exploration company focused on the strategic acquisition and advancement of prospective oil and gas projects in West Africa, stating that the three companies have signed a non-binding letter of intent to create a mid-sized, “well-capitalized” company with domestic and international exploration operations.

The proposed combination of the three companies will result in one company backed by an experienced management team and board of directors, which will ultimately benefit shareholders as the company takes advantage of growth opportunities.

“The collaboration of Lion, Southern and Gold Star combines an excellent portfolio of diverse African exploratory opportunities

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Abiomed, Inc. (ABMD) reported fiscal second-quarter loss of 14 cents per share, considerably better than the Zacks Consensus Estimate of a loss of 21 cents. However, loss per share in the year-ago quarter was 8 cents.   Total revenues in the reported quarter were roughly flat year over year at $20 million. In terms of products: Worldwide Impella revenues increased 26% year over year to $13.2 million. Non-Impella revenues declined 28% year over year to $6.8 million.   Abiomed witnessed a strong demand for its Impella products in the domestic market. Total Impella revenues in the U.S. increased 95% year over year to $12.1 million. This was backed by strong commercial reorders in the U.S. market which increased 230% year over year to $6.6 million.   In terms of operational metrics: the number of patients in the U.S. treated with Impella 2.5, 5.0 or LD increased 238% year ...

In the 80’s U.S. investors lost $1 trillion in sovereign loans, but investors continue to believe these assets aren’t risky, Mr. Michael Milken, chairman of Milken Institute,  told investors at a conference in New York thursday. According to Mr. Milken souvereign debt can be 200% more risky than ordinary lower rated industrial bonds.     “ This dramatic example tells us [...]

Oil refiner and marketer Sunoco Inc. (SUN) reported weaker-than-expected third quarter results as its refining and chemicals operations slipped in the red, pulled down by reduced margins and production. Loss per share, excluding special items, came in at 29 cents, significantly wider than the Zacks Consensus Estimate of 9 cents. In the year-ago period, the Pennsylvania-based company earned $4.78 per share. Revenues were down 42.6% year over year to $8.7 billion.   Refining & Supply   The Refining & Supply segment lost $118 million during the quarter, as against a profit of $398 million in the year-earlier period, mainly on account of lower realized margins and lower production volumes, partly canceled by lower expenses. Realized margin averaged $2.72 per barrel, down 81.7% from the third quarter of 2008, reflecting a very weak East Coast refining margin environment. Total production was down approximately 17.2% year over year to 669.2 ...

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Friday November 6, 2009

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CVAT, SBUX, PWRM, CVS, PSFT, SWKS, AQNM, IBM, CSRH

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PSFT, Powersafe Technology Corp., PSFT.PK

PSFT subsidiary Amplification Technologies Inc. (www.amplificationtechnologies.com) (ATI), is offering higher performance thermoelectrically cooled discrete amplification single photon counting solid state photodetectors. These photodetectors are mounted on a two stage thermoelectric cooler inside a hermetically sealed TO8 package and can be operated down to a temperature of -30oC.

The devices are available in both Si and InGaAs/InP technologies. As compared to TO5 devices, these TO8 packaged detectors have 10-30X lower dark current depending on operating temperature. The Si devices offer flat and

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Telephone and Data Systems (TDS) announced third-quarter 2009 earnings per share of 33 cents, which fell behind the Zacks Consensus Estimate of 47 cents and the year-ago quarter EPS of 87 cents. Net income (attributable to TDS) tumbled 65% year over year to $35.6 million as profit dipped at the company's wireless subsidiary U.S. Cellular (USM).

The Chicago-based company reported operating revenue of $1,258.7 million, reflecting a 4% year over year drop as a result of declines across its wireless and wireline businesses.

U.S. Cellular (Wireless)

Net income sank 60% year over year to $35.6 million, due to lower revenue and increased operating expenses. Operating revenue declined 3% over the prior-year quarter to $1,058 million as a result of a 3% year over year decline in service revenues that registered $984.9 million in the quarter. The unit continues to experience lower roaming revenue, offset by healthy data revenue growth (up

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