Stock Blog Hub » Independent Oil & Gas

(APA) Company News for January 24, 2012 – Corporate Summary

vitalstocks — Tue, 24 Jan 2012 17:19:54 +0000

• Fifth Street Finance Corp’s (NASDAQ:FSC) shares declined 5.11% to close at $10.02 after the company initiated a public sale of 10 million shares • Share of natural-gas producer Chesapeake Energy (NYSE:CHK) gained 6.3% after the company announced it plans to further reduce dry-gas drilling activity by half and limit its gas production by about [...]

(APA) Company News for January 24, 2012 – Corporate Summary

(RRC) Range Resources’ Production Reaches New High

vitalstocks — Wed, 18 Jan 2012 20:40:55 +0000

In an interim update, independent oil and gas operator, Range Resources Corporation (RRC) announced that it achieved record production in the fourth quarter of 2011. The production increased 16% on both a year-over-year as well as sequential basis to reach an average production volume of 625 million cubic feet of gas equivalent (Mmcfe) per day. [...]

(RRC) Range Resources’ Production Reaches New High

(APC) Anadarko Petroleum Hits Another Gas Find

vitalstocks — Wed, 18 Jan 2012 20:40:31 +0000

Independent oil and gas producer Anadarko Petroleum Corporation (APC) made another discovery off the coast of Mozambique. This new find to a large extent substantiated the company’s projection that the Offshore Area 1 of Mozambique’s Rovuma Basin at the Lagosta prospect has 15 -30 trillion cubic feet (Tcf) of recoverable natural gas. The exploration well [...]

(APC) Anadarko Petroleum Hits Another Gas Find

(SM) SM Energy Company – Bull of the Day

vitalstocks — Fri, 13 Jan 2012 21:10:46 +0000

We believe that SM Energy Company’s (SM) emerging core portfolio is a catalyst for visible organic growth over the next several years. The company’s earnings in the third quarter more than doubled from the prior-year, buoyed by higher operating income, increased production and recognition of a gain on divestiture activity. The company’s Eagle Ford and [...]

(SM) SM Energy Company – Bull of the Day

(EPD) Enterprise Products Partners and Genesis Energy Sign Pipeline Plan

vitalstocks — Mon, 09 Jan 2012 04:45:05 +0000

Enterprise Products Partners L.P. (EPD) and Genesis Energy L.P. (GEL) have inked a construction agreement for a crude oil gathering pipeline to serve the Lucius development area in the Gulf of Mexico. Southeast Keathley Canyon Pipeline Company LLC (“SEKCO”) – a 50:50 joint venture between Enterprise and Genesis, will be the owner and responsible for the construction. Enterprise [...]

(EPD) Enterprise Products Partners and Genesis Energy Sign Pipeline Plan

(CEO) Marriott International Passing Baton to Sorenson

vitalstocks — Thu, 15 Dec 2011 10:02:24 +0000

Even though his surname is not Marriott, Arne Sorenson will succeed J.W. Marriott, Jr. as chief executive officer (CEO) of Marriott International Inc. (MAR) next year. Sorenson will be the third CEO in the company’s history followed by J.W. Bill Marriott (Jr.) who expanded his father’s 85-year old Marriott empire globally. Post transition, Bill Marriott [...]

(CEO) Marriott International Passing Baton to Sorenson

(SNP) China Petroleum and Chemical Boosts Aussie LNG Stake

vitalstocks — Wed, 14 Dec 2011 19:55:09 +0000

China Petroleum and Chemical Corporation (SNP), aka Sinopec has agreed to increase its stake in the Queensland-based Australia Pacific liquefied natural gas (LNG) project by 10%, taking its share to 25%. The multibillion Australia Pacific LNG project – formed by Origin Energy Ltd and ConocoPhillips (COP) in September 2008 – is targeted at developing the [...]

(SNP) China Petroleum and Chemical Boosts Aussie LNG Stake

(NXY) Nexen Inks Joint Venture with INPEX Corporation

vitalstocks — Thu, 01 Dec 2011 15:12:36 +0000

Canadian oil and gas company Nexen Inc. (NXY) entered into a strategic agreement with Japanese energy giant INPEX CORPORATION for the development of shale gas fields in northeast British Columbia. Although, as a part of the deal, Nexen will sell 40% working interest in the assets, it will still act as the operator. The divested [...]

(NXY) Nexen Inks Joint Venture with INPEX Corporation

(KWK) Quicksilver Resources Sells More BreitBurn Energy Partners Units

vitalstocks — Wed, 30 Nov 2011 20:05:46 +0000

Quicksilver Resources Inc. (KWK) made a public offering of around 6.97 million units of BreitBurn Energy Partners L.P. (BBEP). Quicksilver will allow the underwriters of the issue a window of 30 days to purchase up to 1,045,177 additional common units to cover over-allotments, if necessary. Although the company is silent about the possible use of [...]

(KWK) Quicksilver Resources Sells More BreitBurn Energy Partners Units

(CEO) CNOOC Closes OPTI Canada Deal

vitalstocks — Wed, 30 Nov 2011 19:49:53 +0000

CNOOC Ltd. (CEO) has closed its previously announced purchase of Canadian oil sands operator OPTI Canada Inc. The $2.1 billion transaction was first declared in July. Estimated holdings of OPTI include about 195 million barrels of proved reserves, 534 million barrels of probable reserves, 1.1 billion barrels of contingent resources and 335 million barrels of [...]

(CEO) CNOOC Closes OPTI Canada Deal

(APC) Anadarko Petroleum Makes Discovery Off The Coast of Mozambique

vitalstocks — Wed, 30 Nov 2011 19:23:49 +0000

Independent oil and gas producer Anadarko Petroleum Corporation’s (APC) latest discovery off the coast of Mozambique has substantially raised the total reserve of natural gas in the field located in the Offshore Area 1 of Mozambique’s Rovuma Basin at the Lagosta prospect. Initial finding from this field, a year ago, suggested an estimated reserve of [...]

(APC) Anadarko Petroleum Makes Discovery Off The Coast of Mozambique

(CHK) Climate Change: At What Price Growth?

vitalstocks — Mon, 28 Nov 2011 20:35:55 +0000

South Africa is playing host to the climate conference, which opens today in the city of Durban. Climate change conferences focus on reducing global temperatures, which appear to accelerate global warming. The Kyoto Protocol (1997), the game-changer in climate negotiations had identified developed countries as primarily responsible for high levels of green house gas emissions [...]

(CHK) Climate Change: At What Price Growth?

(CHK) Shale Gas Development Pushed as Cleaner and Cheaper

vitalstocks — Thu, 24 Nov 2011 17:24:59 +0000

The Obama Administration has set its eyes on developing domestic shale gas (natural gas trapped within dense rock formations) from sources such as the vast Marcellus Shale, which stretches from New York to Virginia. Besides being significantly cheaper than crude oil, reliance on shale gas will reduce greenhouse gas emissions. Climate change issues are dominating [...]

(CHK) Shale Gas Development Pushed as Cleaner and Cheaper

(CHK) Chesapeake Energy Service Business to Go Public

vitalstocks — Fri, 18 Nov 2011 18:57:22 +0000

Chesapeake Energy Corporation (CHK) is contemplating to squeeze value from its oil-field service business – Chesapeake Oilfield Services LLC – by spinning it off in a public stock offering. The company aims to create value for investors and enhance the share price of the parent company. Chesapeake plans to hold on to a majority stake [...]

(CHK) Chesapeake Energy Service Business to Go Public

(COG) Cabot Oil & Gas – Bull of the Day

vitalstocks — Fri, 18 Nov 2011 18:54:43 +0000

We are maintaining our Outperform recommendation on shares of Cabot Oil & Gas (COG), reflecting its impressive exposure to the high-return Marcellus and Eagle Ford Shale plays, as well as its above-average production growth. Furthermore, the capital infusion of over $200 million bodes well for Cabot, which will help it to bolster its natural gas [...]

(COG) Cabot Oil & Gas – Bull of the Day

(CHK) The Bakken isn’t the Only Big Shale Oil Play

InvestmentU — Tue, 15 Nov 2011 17:00:46 +0000

by David Fessler, Investment U Senior Analyst Friday, November 11, 2011 A few days ago, I wrote about the incredible growth in the liquid portion of North Dakota’s Bakken formation. If you want the short version, read on. The Bakken is an oil- and natural gas-rich formation covering a 200,000 square mile area encompassing parts [...]

(CHK) The Bakken isn’t the Only Big Shale Oil Play

(APC) Anadarko Petroleum Strikes Oil Offshore Brazil

vitalstocks — Thu, 10 Nov 2011 21:24:38 +0000

The Woodlands, Texas- based Anadarko Petroleum Corporation (APC), yesterday, announced that it struck oil at its appraisal well in the Campos Basin offshore Brazil. Located in block BM-C-32, offshore Brazil, the Itaipu-2 appraisal well discovered a gross petroleum column of nearly 58 net feet in a pre-salt carbonate reservoir. The well drilled to a total [...]

(APC) Anadarko Petroleum Strikes Oil Offshore Brazil

(UPL) Ultra Petroleum Beats Expectations – Keeps Forward View

vitalstocks — Thu, 10 Nov 2011 20:48:50 +0000

Natural gas producer Ultra Petroleum Corp. (UPL) has reported impressive third quarter 2011 results, buoyed by higher volumes from Wyoming and Pennsylvania regions along with reduced transportation charges and lower general and administrative costs. Earnings per share, excluding special items, came in at 72 cents, breezing past the Zacks Consensus Estimate of 65 cents. Comparing [...]

(UPL) Ultra Petroleum Beats Expectations – Keeps Forward View

(OXY) Occidental Petroleum Corporation Outpaces Expectation

vitalstocks — Fri, 04 Nov 2011 18:57:05 +0000

Occidental Petroleum Corporation’s (OXY) third quarter 2011 operating earnings jumped 47.3% to $2.18 per share from $1.48 per share in the year-ago quarter. Earnings beat our expectation for the quarter by a penny. GAAP net earnings during the quarter were $2.17 per share versus $1.46 per share reported in the year-ago quarter. The difference of [...]

(OXY) Occidental Petroleum Corporation Outpaces Expectation

(STR) Questar Corporation – Bull of the Day

vitalstocks — Wed, 02 Nov 2011 21:01:53 +0000

Buoyed by robust operating results and an enhanced guidance by management, we are upgrading Questar Corp. (STR) to Outperform from Neutral. We believe the company will be able to generate meaningful earnings and dividend growth in the coming years through strong operational performances by its business units. Other positives in the Questar story include its [...]

(STR) Questar Corporation – Bull of the Day

vitalstocks — Tue, 01 Nov 2011 20:44:34 +0000

(STR) Questar Corporation – Bull of the Day

(RRC) Range Resources Beats Estimates – Raises Guidance

vitalstocks — Fri, 28 Oct 2011 15:52:04 +0000

Range Resources Corp. (RRC) has reported stellar third-quarter 2011 results, buoyed by higher production level and realized prices along with lower unit costs. The company posted adjusted earnings of 28 cents a share, beating the Zacks Consensus Estimate of 24 cents. Results also saw an almost two-fold growth from the year-earlier profit of 12 cents a [...]

(RRC) Range Resources Beats Estimates – Raises Guidance

(TLM) Talisman Energy – Bear of the Day

vitalstocks — Wed, 26 Oct 2011 13:43:40 +0000

We are downgrading Talisman Energy (TLM) shares to Underperform from Outperform following the cut in its annual production target for the second time in about two months. TLM expects repair work in the North Sea and weather-related issues in Canada to hurt operations and lower average output for 2011. The dampened guidance, though not likely [...]

(TLM) Talisman Energy – Bear of the Day

(EPD) Enterprise Products Partners L.P. – Enbridge in Pipeline Joint Venture

vitalstocks — Thu, 06 Oct 2011 15:25:25 +0000

Midstream service providers, Enterprise Products Partners L.P. (EPD) and Enbridge Inc. (ENB) have entered a joint venture agreement to build a pipeline –– Wrangler –– connecting the oil-storage hub of Cushing, Oklahoma, to refiners on the Gulf Coast. With the initial capacity of 800,000 barrel a day (BPD), Wrangler is expected to be the largest [...]

(EPD) Enterprise Products Partners L.P. – Enbridge in Pipeline Joint Venture

(CHK) Ohio’s Utica Shale Land Value Increases 10 Times

InvestmentU — Tue, 04 Oct 2011 22:09:26 +0000

by Steve McDonald, Contributing Editor, Investment U Monday, October 3, 2011 What’s going on in Ohio is nothing short of a gas rights frenzy! Just when it seemed like the United States was becoming the Saudi Arabia of gas, Eastern Ohio starts oozing some of the richest shale gas and gas liquids ever discovered. The [...]

(CHK) Ohio’s Utica Shale Land Value Increases 10 Times

(CHK) Utica Shale Could Generate 204,500 Jobs

InvestmentU — Fri, 30 Sep 2011 16:13:40 +0000

by Justin Dove, Investment U Research Thursday, September 29, 2011 The Ohio Oil and Gas Energy Education Program (OOGEEP) released a very bullish projection this month on the economic impact of Utica shale activity in the region. The report predicted that Utica shale production could generate 204,500 jobs in just four years and infuse billions [...]

(CHK) Utica Shale Could Generate 204,500 Jobs

(COG) Cabot Oil & Gas – Bull of the Day

vitalstocks — Thu, 01 Sep 2011 16:54:07 +0000

We are maintaining our Outperform recommendation on shares of Cabot Oil & Gas (COG), reflecting its impressive exposure to the high-return Marcellus and Haynesville Shale plays, as well as its above-average production growth. Furthermore, the capital infusion of over $200 million bodes well for Cabot, which will help it to bolster its natural gas operations. [...]

(COG) Cabot Oil & Gas – Bull of the Day

(GDP) Stock Market News for August 29, 2011 – Market News

vitalstocks — Mon, 29 Aug 2011 17:39:51 +0000

Wall Street registered its first weekly gains in more than a month as the Fed Chairman’s speech sparked hopes of economic stimulus and assured investors that the US is well on course for long-term economic growth. The tech sector helped push the markets higher on Friday, enabling the markets to post its best weekly gains [...]

(GDP) Stock Market News for August 29, 2011 – Market News

(GDP) Stock Market News for August 22, 2011 – Market News

vitalstocks — Mon, 22 Aug 2011 17:06:05 +0000

Fears of a global downturn dragged the markets down on Friday and benchmarks registered their fourth consecutive week of losses. While recession worries in US unnerved investors, fears of financial destabilization on the European front strengthened the bearish mood. Posting its 10th move of over 100 points in the last 15 trading days, the Dow [...]

(GDP) Stock Market News for August 22, 2011 – Market News

(DNR) Denbury Resources Posts an Impressive Second Quarter

vitalstocks — Fri, 05 Aug 2011 18:00:47 +0000

Denbury Resources Inc. (DNR) has reported second-quarter 2011 earnings of 37 cents per share (excluding one-time items), beating our expectation of 33 cents. The quarterly result was also well above the year-earlier adjusted earnings of 18 cents, attributable to overall higher price realization, partially offset by lower production. Total revenue jumped 21% to $601.4 million [...]

(DNR) Denbury Resources Posts an Impressive Second Quarter

(SU) Suncor Energy – Bull of the Day

vitalstocks — Tue, 12 Jul 2011 17:00:54 +0000

In our opinion, Suncor Energy (SU) is one of the best positioned companies to benefit from the oil price recovery over the next several years. The company’s asset base includes substantial conventional reserves and production at offshore Eastern Canada and in the North Sea, which generate strong margins and should provide free cash flow to [...]

(SU) Suncor Energy – Bull of the Day

(SNP) China Petroleum and Chemical Corporation-Henan Win Chinese Blocks

vitalstocks — Sun, 10 Jul 2011 18:19:03 +0000

China Petroleum and Chemical Corporation, or Sinopec (SNP) and Henan Provincial Coal Seam Gas Development and Utilization Co. were awarded a shale gas block each by the Chinese government in its first auction of the unconventional gas resource. The auction was initiated last week, offering four blocks to six Chinese companies for the development of [...]

(SNP) China Petroleum and Chemical Corporation-Henan Win Chinese Blocks

(APA) Apache Hits Record at Forties

vitalstocks — Sun, 10 Jul 2011 18:17:17 +0000

Apache Corporation (APA) announced that its development wells in the Forties field have started production at a record rate, reaping benefits from the advanced seismic technology that was applied to enhance output. As per the company, the Charlie 4-3 well’s initial production (IP) rate of 12,567 barrels of oil per day (Bbl/d) is the highest [...]

(APA) Apache Hits Record at Forties

(FST) Forest Oil Updates Forecast

vitalstocks — Fri, 08 Jul 2011 21:01:54 +0000

An independent oil and gas company Forest Oil Corporation (FST) provided guidance for the second quarter as well as second half of 2011. The company’s forecasts are mainly reflective of the more oil-weighted development initiatives through the expansion of its Eagle Ford Shale drilling program and the commencement of drilling activity in the Wolfcamp Shale [...]

(FST) Forest Oil Updates Forecast

(APC) Anadarko Petroleum to Sell Midstream Assets

vitalstocks — Thu, 07 Jul 2011 17:11:14 +0000

Anadarko Petroleum Corporation (APC) said it has agreed to sell its Bison gas facility and related assets in Powder River Basin to Western Gas Partners L.P. (AES) for $130 million. Following the acquisition, Western Gas will have 100% ownership interest in the Bison assets. The deal is expected to close early this month, with an [...]

(APC) Anadarko Petroleum to Sell Midstream Assets

(SM) SM Energy Trims Eagle Ford Acres

vitalstocks — Fri, 01 Jul 2011 16:51:29 +0000

U.S. oil and gas development company, SM Energy Company (SM) will sell a 12.5% working interest in its non-operated Eagle Ford Shale acreage in Texas to a subsidiary of Mitsui & Co. Ltd. Mitsui will pay $680 million for the prolific Eagle Ford acreage. Mitsui will carry 90% of SM Energy’s drilling and completion costs [...]

(SM) SM Energy Trims Eagle Ford Acres

(SU) Suncor Upgraded to Outperform

vitalstocks — Thu, 30 Jun 2011 21:25:39 +0000

We have upgraded Canada’s biggest energy firm and the largest oil sands outfit Suncor Energy Inc. (SU) to Outperform from Neutral, reflecting the company’s impressive portfolio of growth opportunities, unique asset base and high return potential in the long run. Suncor has significant oil sands and conventional production platform, huge long-lived oil-sands reserves and a [...]

(SU) Suncor Upgraded to Outperform

(DNR) Denbury Resources to Get Riley Ridge Unit

vitalstocks — Thu, 30 Jun 2011 20:36:27 +0000

Denbury Resources Inc. (DNR) has entered into an agreement to acquire working interests in Riley Ridge Federal Unit located in southwestern Wyoming as well as mineral leases adjoining the Unit from Cimarex Energy Co. (XEC). The total consideration of the transaction, which is expected to close in July, is $191 million. Per the agreement, Denbury [...]

(DNR) Denbury Resources to Get Riley Ridge Unit

(FST) Forest Oil Corporation Analyst Maintains Neutral on Shares

vitalstocks — Wed, 29 Jun 2011 16:28:20 +0000

We are reiterating our Neutral recommendation on Denver-based Forest Oil Corporation (FST). An independent oil and gas company engaged in the acquisition, exploration, production and development of hydrocarbon properties in North America is expected to witness margin expansion going forward owing to its exploration activities. However, its reduced 2011 production volume keeps us skeptical for [...]

(FST) Forest Oil Corporation Analyst Maintains Neutral on Shares

(EPD) Enterprise Products Partners L.P. to Enhance Texas Infrastructure

vitalstocks — Wed, 29 Jun 2011 16:20:52 +0000

Encouraged by the mounting production volume at the Eagle Ford Shale in South Texas, Enterprise Products Partners L.P. (EPD) has plans to install a sixth natural gas liquid (NGL) fractionator, with a capacity of 75,000 barrels per day (BPD), at the Mont Belvieu complex in the state. The partnership has already gained customary approvals as [...]

(EPD) Enterprise Products Partners L.P. to Enhance Texas Infrastructure

(APA) Apache Secures Exploration Rights

vitalstocks — Sun, 26 Jun 2011 16:44:31 +0000

As per market sources, Apache Corporation (APA) has won oil and gas exploration rights in the vast acreage of Alaska’s Cook Inlet. The company was the sole bidder for the three-lease package offered by the Alaska Division of Oil and Gas. Apache submitted the bid at $613,690, or $70 per acre. These leases, acquired by [...]

(APA) Apache Secures Exploration Rights

(EOG) Seafox to Jackup EOG Resources Oil Venture

vitalstocks — Thu, 23 Jun 2011 01:08:28 +0000

A subsidiary of EOG Resources Inc. (EOG) has inked a contract with Seafox Contractors BV, an operating company of Netherland-based Seafox Group. The deal entitles EOG to use Seafox’ facilities and a multi-support jackup – Seafox 1 – at the Conwy field in the East Irish Sea, EOG’s maiden oil venture in the region. The [...]

(EOG) Seafox to Jackup EOG Resources Oil Venture

(ECA) EnCana and PetroChina End Joint Venture

vitalstocks — Thu, 23 Jun 2011 01:07:34 +0000

Canada’s largest natural gas producer EnCana Corp. (ECA) has confirmed that it has pulled out of talks with Chinese energy giant PetroChina Co. Ltd. (PTR) regarding the sale of half of its prolific Cutbank Ridge shale natural gas assets in British Columbia and Alberta for approximately C$5.4 billion (U.S.$5.4 billion). In an announcement, the company [...]

(ECA) EnCana and PetroChina End Joint Venture

(COG) Cabot Oil & Gas – Bull of the Day

vitalstocks — Wed, 22 Jun 2011 14:53:58 +0000

We are upgrading Cabot Oil & Gas Corp. (COG) shares to Outperform from Neutral, reflecting the company’s impressive exposure to the high-return Marcellus and Haynesville Shale plays, as well as its above-average production growth. Furthermore, the capital infusion of over $200 million bodes well for Cabot, which will help the company bolster its natural gas [...]

(COG) Cabot Oil & Gas – Bull of the Day

(APC) Anadarko Petroleum Corporation Remains Neutral

vitalstocks — Tue, 21 Jun 2011 04:20:10 +0000

We maintain our Neutral outlook on Anadarko Petroleum Corporation (APC) as the stock’s upside potential is presently limited by the slowed drilling permits in the Gulf of Mexico and the uncertainty over Anadarko’s liability in the clean-up of the Macondo oil spill. The positives favoring Anadarko are its deep and diversified asset portfolio, predictable production [...]

(APC) Anadarko Petroleum Corporation Remains Neutral

(APA) Apache Strikes Oil in Egypt

vitalstocks — Tue, 21 Jun 2011 04:13:08 +0000

U.S.energy firm Apache Corp. (APA) announced five new oil discoveries in Egypt’s Western Desert, building on the integrated energy company’s leading position in this hydrocarbon-rich area. The latest finds in the Faghur basin play – West Kalabsha-I-4, Faghur North-1X, Faghur South-1X, Huni-1X and Neith North-1X – logged a combined 189 feet of net pay of [...]

(APA) Apache Strikes Oil in Egypt

(COG) Cabot Oil & Gas – Bull of the Day

vitalstocks — Tue, 14 Jun 2011 15:04:18 +0000

(COG) Cabot Oil & Gas – Bull of the Day

(APC) Stock Market News for May 23, 2011 – Market News

vitalstocks — Mon, 23 May 2011 17:58:32 +0000

European debt concerns once again resurfaced to drag the markets lower on Friday. Disappointing earnings from retailers added to the bearish sentiment and washed out the gains of the previous two days. Following these developments, markets continued their run of weekly losses for the third-straight week. The Dow Jones Industrial Average (DJIA) dropped 0.7% to [...]

(APC) Stock Market News for May 23, 2011 – Market News

(LEI) Stock Market News for May 20, 2011 – Market News

vitalstocks — Fri, 20 May 2011 17:09:37 +0000

A host of worrying economic reports failed to pull down the markets as LinkedIn made its debut on the Street and doubled its share price. Markets were also led modestly higher as initial claims declined and retailers posted better-than-expected quarter results. The Dow Jones Industrial Average (DJIA) was up 0.4% to settle at 12,605.32. The [...]

(LEI) Stock Market News for May 20, 2011 – Market News

(UPL) Ultra Petroleum Quarterly Earnings Miss Expectations

vitalstocks — Tue, 10 May 2011 14:42:29 +0000

Natural gas producer Ultra Petroleum Corp. (UPL) reported marginally weaker-than-expected first quarter 2011 results, hurt by lower prices. Earnings per share, excluding special items, came in at 57 cents, missing the Zacks Consensus Estimate by a penny. However, compared with the year-earlier period, Ultra Petroleum’s adjusted earnings per share rose 3.6% (from 55 cents to [...]

(UPL) Ultra Petroleum Quarterly Earnings Miss Expectations