Ford Motor Falls On Expectation of Lower Operating Profit (F, WLT, TMH, TC)
Ford Motor Company (NYSE:F) stock declined 2.87% to $9.80 in the pre-market session after the company said its pretax operating profit will be substantially lower in the second quarter in part because overseas losses tripled from the year’s first three months. However, the company will be profitable and have positive operating cash flow in the three months ending June 30, 2012. The company also expects “strong results” from its North American operations, while pretax losses in Europe, South America and Asia could reach $570 million.
Walter Energy, Inc. (NYSE:WLT) stock fell 2.35% to $44 after the company announced that for the second quarter of 2012, it expects met coal production to be approximately 2.8 million metric tons (MMTs).For fiscal 2012, it expects met coal production to be between 11.5 and 13 MMTs, with approximately 75% of annual production being high-margin hard coking coal (HCC) and 25% pulverized coal injection (PCI).
Team Health Holdings LLC (NYSE:TMH) shares plunged 7.96% to $23.83 after the company announced that it had commenced a secondary offering of 8 million shares of its common stock to be sold by its principal stockholder, Ensemble Parent LLC, an investment fund affiliated with The Blackstone Group L.P., and by certain of TeamHealth’s officers and directors, pursuant to a registration statement that TeamHealth previously filed with the Securities and Exchange Commission. Ensemble Parent LLC is selling 7,925,000 shares and TeamHealth’s officers and directors are selling 75,000 shares.
Thompson Creek Metals Company, Inc. (NYSE:TC) shares declined 5.33% to $3.02 after the company reported that it currently expects the previously announced wall slough at the Thompson Creek Mine to have a negative impact on second quarter 2012 production. The Company further anticipates production from the Thompson Creek Mine for the second quarter to be approximately 2.5 million pounds of molybdenum. The Company also expects that the slough will have a negative impact on cash costs of production for the Thompson Creek Mine for the quarter.