U.S Govt To Divest American International Group’s $5 bln (AIG, CNK, NGLS, DRQ, HCA)
American International Group, Inc. (NYSE:AIG) shares gained 0.22% to $31.41 in the pre-market hour after The U.S. Treasury Department expects to raise $5 billion from its sale of American International Group stock, cutting the government’s stake in the bailed-out insurer to 55% . The Treasury Department priced the offering at $30.50 a share, 6% above the $28.72 price needed for the U.S. government to break even on its investment in the insurer. AIG intends to buy up to $3 billion of the offering.
Cinemark Holdings, Inc. (NYSE:CNK) posted second-quarter net income of $51.64 million or $0.45 per share versus $40.41 million or $0.35 per share in the same quarter last year. Total revenues grew to $649.61 million from $620.59 million in the prior-year quarter. Analysts expected the company to report earnings of $0.37 per share on revenues of $630.75 million.
Targa Resources Partners LP (NYSE:NGLS) stock fell 2.21% to $38 in the pre-market hour after the company posted second-quarter net income of $46.8 million or $0.35 per limited partner unit, as compared to $55.2 million or $0.55 per limited partner unit a year ago. On average, analysts polled by Thomson Reuters expected earnings of $0.40 per share for the quarter. Net income available to common shareholders was $8.6 million or $0.21 per share, lower than last year’s $10.5 million or $0.25 per share. Analysts expected earnings of $0.24 per share. Revenues fell to $1.32 billion from last year’s $1.73 billion in the year ago period. Analysts expected revenues of $1.74 billion for the quarter.
Dril-Quip, Inc. (NYSE:DRQ) announced second quarter net income of $29.8 million, or $0.74 per diluted share, versus net income of $22.2 million, or $0.55 per diluted share, for the second quarter of 2011. Total revenues were $176.6 million, as compared to $137.0 million for the same period in 2011.
Looking forward, the company expects its full-year 2012 earnings per diluted share to be in the range of $2.75 to $2.95, excluding any unusual or special charges, up from previous 2012 guidance of $2.60 to $2.80 per diluted share.
HCA Holdings Inc (NYSE:HCA) reported second-quarter net income of $391 million or $0.85 per share, up from $229 million or $0.43 per share, in the year ago period. Adjusted net income rose to $0.85 per share from $0.51 per share in the same quarter last year. Revenue increased to $8.112 billion, from $7.249 billion in the same quarter last year. Analysts expected the company to report earnings of $0.78 per share on revenue estimate of $8.83 billion for the quarter.
