Stocks In The News (YELP , ONNN, SCCO, SUN, MUR)
Yelp Inc (NYSE:YELP) stock increased 1.46% to $22.90 in the early hour. The company is expected to report its first quarterly report as a publicly traded company after Wednesday’s close. Analysts are expecting the company to report a loss of $0.15 a share, on revenue of $25 million. The first quarterly report comes just two months after the company’s IPO, which saw the stock surge more than 60% on its first day of trading.
ON Semiconductor Corp. (NASDAQ:ONNN) stock fell 1.68% to $8.17 in the morning hour. The 52 week trading range for the company is $6.53 – $11.85. On April 23, 2012, the company introduced a new series of switching buck regulators for space-constrained, electromagnetic compatibility (EMC) sensitive automotive entertainment and infotainment applications. These highly integrated devices offer industry leading conversion ratios for battery connected switch-mode power supplies.
Southern Copper Corp (NYSE:SCCO) shares fell 1.18% to $32.73 in the early hour. The company’s first-quarter net earnings rose to $621.4 million or $0.73 per share, as compared with $478.4 million or $0.56 per share a year earlier on increased sales. Net sales rose to $1.81 billion from $1.60 billion.
Sunoco, Inc. (NYSE:SUN) shares gained 0.18% to $49.81 in the morning hour. On April 30, 2012, Energy Transfer Partners LP (ETP) and Sunoco Inc announced that they have entered into a definitive merger agreement whereby ETP will acquire Sunoco in a unit and cash transaction valued at $50.13 per share, or a total consideration of approximately $5.3 billion, based on ETP’s closing price on April 27, 2012.
Murphy Oil Corporation (NYSE:MUR) stock fell 1.11% to $55.29 in the early hour. The company is expected will reveal its latest earnings on Wednesday, May 2, 2012. Murphy Oil is an oil and gas exploration and production company with refining and marketing operations in the U.S. and the United Kingdom.