Level 3 Communications
The data and communications infrastructure company Level 3 Communications, Inc. (NYSE:LVLT) will be reporting earnings on May 3, 2012, followed up by a conference call. The firm, who offers services from virtual private networks to dark fibre and content distribution, is projected to lose $0.60 in the first quarter, which is a threefold improvement over their results in the first quarter of 2011. In fact, this trend is projected forward by analysts who are indicating a shrinking loss and a potential return to profitability in the fourth quarter of 2012. This is despite a growing loss in each of the last four fiscal years.
At this year's SALT New York conference, Jean Hynes, the CEO of Wellington Management, took to the stage to discuss the role of active management in today's investment environment. Hynes succeeded Brendan Swords as the CEO of Wellington at the end of June after nearly 30 years at the firm. Wellington is one of the Read More
The results came in at a loss of $0.37 a share excluding losses on extinguishment of debt, beating estimates. Shares are up $0.60 in pre-market trading.
El Paso Corp
The owner of America’s largest natural gas pipeline system, El Paso Corp (NYSE:EP) is poised to announce its 2012 first quarter earnings today. Analysts on average are estimating earnings of $0.29 per share, which is largely in line with the first quarter of 2011. Despite this, analysts have a more positive outlook on the remainder of the year, where they see El Paso earning $1.20 per share for 2012, up 20% over 2011 earnings. El Paso and Kinder Morgan Inc (NYSE:KMI) have previously agreed in October of 2011 for Kinder Morgan to acquire all outstanding El Paso shares at $26.87 per share.
El Paso Corporation reported earnings of 20 cents per share, which was below analyst estimates. The company is down in the pre-market 0.90% on the results.