U.S. Stocks Open Lower After Tepid Data -2-
02/21/2013| 09:26am US/Eastern
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KBR Inc.'s (>> KBR, Inc.) fourth-quarter earnings declined 67% as the company recorded steep revenue declines in its North American government and logistics business and in its minerals business.
Michael Kors Holdings Ltd. (>> Michael Kors Holdings Ltd) said a secondary offering of 25 million of its shares priced at $61.50 a piece, in line with its Wednesday close.
Molina Healthcare Inc. (>> Molina Healthcare, Inc.) lowered its full-year earnings guidance by ten cents a share, factoring in an upsized debt offering and projected increases to premium revenue.
Questar Corp.'s (>> Questar Corporation) fourth-quarter earnings rose 3.6% as the natural-gas company reported wider margins, offsetting declining revenue in its larger gas segment.
Sherwin-Williams Co. (>> Sherwin-Williams Company) has agreed to pay $80 million to settle charges with the Labor Department over transactions related to the company's employee stock-ownership plan.
SM Energy Co.'s (>> SM Energy Co.) fourth-quarter loss narrowed as the oil-and-gas company increased production and as derivative gains boosted results.
Southwestern Energy Co. (>> Southwestern Energy Company) swung to a fourth-quarter loss as lower natural-gas prices cost the oil-and-gas company a significant impairment charge, although revenue for the latest period beat analysts' expectations.
Semiconductor-packaging company Tessera Technologies Inc. (>> Tessera Technologies, Inc.) said a court has awarded it more than $130 million in a dispute with Amkor Technology Inc. (>> Amkor Technology, Inc.), in addition to about $20 million Amkor already paid to Tessera.
TRW Automotive Holdings Corp. (>> TRW Automotive Holdings Corp.) said Automotive Investors LLC, an affiliate of the Blackstone Group LP (>> The Blackstone Group L.P.), and certain members of TRW's management plan to offer 10 million shares. The company had 119.3 million shares outstanding as of Feb. 8.
Walter Energy Inc. (WLT, WLT.T) swung to a fourth-quarter loss as lower prices for metallurgical coal hurt the company's results.
Williams Cos." (>> Williams Companies, Inc.) swung to a fourth-quarter profit despite impacts from weaker natural-gas liquids margins as the year-earlier loss stemmed from asset write-downs and other charges related to its former exploration and production business.
Yamana Gold Inc.'s (AUY, YRI.T) fourth-quarter earnings rose 89% as higher production and prices boosted revenue, offsetting increased expenses at the Canada-based mining company.
-Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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Stocks mentioned in the article :
KBR, Inc.,
Amkor Technology, Inc.,
Southwestern Energy Company,
TRW Automotive Holdings Corp.,
Tessera Technologies, Inc.,
Williams Companies, Inc.,
Questar Corporation,
The Blackstone Group L.P.,
Michael Kors Holdings Ltd,
Molina Healthcare, Inc.,
Sherwin-Williams Company,
SM Energy Co.
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