NEW YORK, April 25, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Cliffs Natural Resources Inc, Fusion-IO, ConocoPhillips, Zynga Inc.
Cliffs Natural Resources Inc(NYSE:CLF) shares jumped 12.35% to $20.43. The company, on April 24, said its first-quarter profit fell 74% as the mining company reported weaker global iron-ore sales that weighed onrevenue, along with significantly lower income-tax benefits.
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The company reported a profit of $97.1 million, or 66 cents a share, down from $375.8 million, or $2.63 a share, a year earlier. Adjusted per-share earnings slid to 60 cents from 89 cents a year earlier. Revenue declined 5.9% to $1.14 billion. Analysts had forecast earnings of 34 cents a share on revenue of $1.2 billion.
Additionally, Research analysts at FBR Capital Markets dropped their target price on shares of Cliffs Natural from $33.00 to $28.00 in a report released on April 22. The firm currently has a “market perform” rating on the stock.
Fusion-IO, Inc.(NYSE:FIO) shares increased 18.28% and closed at $19.66. The company, on April 24, said its third quarter net loss widened to $20.05 million or $0.21 per share from $4.68 million or $0.05 per share in theyear-ago period. Adjusted net loss for the quarter was $3.17 million or $0.03 per share, compared to adjusted net income of $6.92 million or $0.06 per share in the year-ago period. Analysts expected the company to report loss of $0.07 per share for the quarter. Revenue for the quarter declined 7 percent to $87.65 million from $94.24 million in the same period last year. Analysts had a consensus revenue estimate of $80.48 million.
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Additionally, FIO’s stock had its “neutral” rating restated by equities researchers at Dougherty & Co in a report issued on April 22. They currently have a $18.00 target price on the stock.
ConocoPhillips (NYSE:COP) shares declined 0.24% to $58.12 in the morning hour. The company on April 25 said its first-quarter earnings fell 27% the exploration and production company reported lower revenue amid thespinoff of its refining and marketing arm in 2012 and as the year-earlier period benefited from $950 million in asset sale gains.
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The company reported a first quarter profit of $2.14 billion, or $1.73 a share, down from $2.94 billion, or $2.27 a share, a year earlier. Adjusted earnings from continuing operations were up at $1.42 from $1.38. Revenue decreased 8.9% to $14.65 billion. Analysts most recently projected earnings of $1.41 on revenue of $13.57 billion.
Zynga Inc(NASDAQ:ZNGA) shares declined 8.93% to $3.05. The company on April 25 posted first-quarter net income of $4.13 million, as compared with a loss of $85.4 million a year earlier. During the quarter. Sales fell 18 percent to $263.6 million in the first quarter, compared with analysts’ average projection of $263.9 million.
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Looking forward, the company forecasted a second-quarter loss, excluding certain items, of 3 cents to 4 cents a share. Analysts on average had predicted a loss of 1 cent.
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