A successful transformation of its energy business brought a no-surprise expanded earnings forecast for 2001 last week from Tulsa-based Williams. The company expects to meet or beat Wall Street expectations of $1.26 per share for the entire company and $1.73 per share for its energy division, which has seen its marketing and trading earnings soar along with higher energy prices.
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Williams Energizes 2001 Earnings Forecast
A successful transformation of its energy business brought ano-surprise expanded earnings forecast for 2001 yesterday fromTulsa-based Williams. The company expects to meet or beat WallStreet expectations of $1.26 per share for the entire company and$1.73 per share for its energy division, which has seen itsmarketing and trading earnings soar along with higher energyprices.
Aftermarket Begins as Anticipated: Much Softer
The November aftermarket failed to surprise anyone by startingout Tuesday generally well below monthly indexes andlast-of-October prices. Only the Southern California border andMalin managed to stay close to bidweek levels.
Apache CEO Predicts Strong Earnings Surprise
The sharp rise in natural gas and oil prices and production have sent Apache Corp.’s earnings skyrocketing, and the CEO said last week that the Houston-based independent would easily beat Wall Street estimates.
Apache CEO Predicts Strong Earnings Surprise
The sharp rise in natural gas and oil prices have sent Apache Corp.’s earnings skyrocketing, and the CEO said yesterday the Houston-based independent would easily beat Wall Street estimates. Analysts have predicted earnings per share of $4.86, but CEO Raymond Plank said the company expects to earn $5.50 per share, about 20% higher than predicted.
NIPSCO: Indiana Customers’ Winter Bills Up to 60% Higher
Unlike San Diego consumers for whom skyrocketing utility billscame as a hugely unpleasant surprise, natural gas customers inIndiana have been warned in advance to expect to expect much higherbills this winter. The message to Indiana consumers last week wassimilar to those being broadcast all across the country bygovernment and utility officials anxious to moderate the intensepublic reaction manifest in California.
NIPSCO: Indiana Customers’ Winter Bills Up to 60% Higher
Unlike San Diego consumers for whom skyrocketing utility billscame as a hugely unpleasant surprise, natural gas customers inIndiana have been warned in advance to expect to expect much higherbills this winter. The message to Indiana consumers this week wassimilar to those being broadcast all across the country bygovernment and utility officials anxious to moderate the intensepublic reaction manifest in California.
Neighbors FirstEnergy, GPU, Combine
Surprise! FirstEnergy of Akron, OH and Morristown, NJ-based GPUInc. formally announced that Monday’s widely circulated and detailedrumors of a merger were indeed true (see Daily GPI, Aug. 8). In meetings yesterday, bothcompanies’ boards of directors unanimously approved the merger underwhich FirstEnergy would acquire all of GPU’s outstanding shares ofcommon stock for about $4.5 billion in cash and common stock.
Cash Follows Plunging Script Dictated by Screen
After the screen had registered a plunge of 42 cents-plus theday before, it failed to surprise cash traders when their numbersalso fell big-time Tuesday. However, prices were trending higher astrading proceeded, largely due to futures that opened lower butrecovered to finish the day nearly a nickel higher.
The Big Spike in Prices Happens Right on Schedule
The dazzling increases in cash prices Thursday certainly failedto surprise anybody who was paying attention Wednesday afternoon tothe storage report and the screen’s subsequent skyrocketingperformance.