Friday’s Top Stock Earnings (SE, ARGN, PPL, BPO)
Spectra Energy Corp. (NYSE:SE) shares declined 1.01% to $30.31 in the morning hour after the company’s first quarter profit fell 6.7% as an unusually warm winter reduced heating demand, hindering the company’s distribution business.
The company reported first quarter net income of $52.4 million, or $0.48 per share, as compared to $48.9 million or $0.50 per share in the same quarter last year. Operating revenues increased to $61.9 million from $51.20 million in the corresponding quarter last year. Analysts expected the company to earn $0.47 per share on revenues of $64.61 million for the quarter.
Amerigon Inc (NASDAQ:ARGN) stock increased 2.11% to $14.52 in the early hour after the company reported first quarter revenues of $129.5 million from $35.8 million in the prior year period. Net income was $2.7 million, or $0.11 per basic and diluted share. Adjusting net income was $0.28 per basic share and $0.27 per diluted share. Net loss attributable to common shareholders for the first quarter of 2011 was $666,000, or $0.03 loss per share.
PPL Corporation (NYSE:PPL) stock gained 0.92% to $27.50 in the morning hour after the company posted first quarter net income of $541 million or $0.93 per share, as compared to $401 million or $0.82 per share last year. Excluding special items, earnings from ongoing operations for the quarter were $0.70 per share. Total Operating Revenues grew to $4.11 billion from $2.91 billion in the prior-year quarter. Analysts expected the company to report earnings of $0.66 per share on revenues of $3.14 billion.
Brookfield Office Properties Inc. (NYSE:BPO) shares fell 0.76% to $18.20 in the early hour after the company announced first quarter net income of $352 million or $0.62 per diluted share, as compared with $306 million or $0.54 per diluted share in the first quarter of 2011. Funds from operations were $154 million or $0.27 per diluted common share, as compared with $142 million or $0.25 per diluted common share in the year ago period.
The company additionally announced a series of changes and promotions to its executive management team which will become effective on July 1, 2012.