Zacks Bull and Bear of the Day Highlights: CoreLogic, Bebe Stores, Plains All American Pipeline, Devon Energy and Chesapeake Energy
CHICAGO, Feb. 11, 2013 /PRNewswire/ -- Zacks Equity Research highlights CoreLogic (NYSE: CLGX) as the Bull of the Day and Bebe Stores (Nasdaq: BEBE) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Plains All American Pipeline, L.P. (NYSE: PAA), Devon Energy Corporation (NYSE: DVN) and Chesapeake Energy Corporation (NYSE: CHK).
Full analysis of all these stocks is available at http://at.zacks.com/?id=2678.
Here is a synopsis of all five stocks:
On January 31, CoreLogic (NYSE: CLGX) updated its financial guidance for 2012. The company now expects stronger results for 2012 (expected at the top of its previous guidance range) as a result of higher origination volumes, acceleration in data and analytics revenue growth and cost reduction programs as well as share repurchases.
CoreLogic also provided its initial guidance for 2013. The company expects earnings of $1.65 to $1.75 per share for 2013, implying a growth of 10-17%. . The results will be released on February 21, 2013.
Zacks consensus estimate now calls for earnings of $0.32 per share in the previous quarter and $0.43 per share in the current quarter. Further, Zacks Industry rank also looks attractive currently—70 out of 265.
In November, S&P had upgraded its outlook on CoreLogic from positive to stable. The upgrade was a result of expectation that the company will be able to maintain earnings stability through origination cycles and its moderate financial policies. The rating agency further stated that CoreLogic's leadership position in mortgage processing markets and focus on reducing costs will support consistent profitability,
Bebe Stores (Nasdaq: BEBE) designs, develops and produces a distinctive line of contemporary women's apparel and accessories. They market their products under the bebe, BEBE SPORT, bbsp and 2b brand names through their retail stores located in the United States, Canada and internationally licensed stores.
Bebe reported its results for the second quarter ended December 29, 2012 on January 31, 2012. The quarter resulted in a loss of $4.8 million, or $0.06 per share compared with a profit of $6.5 million, or $0.08 per share in the second quarter of prior fiscal.
Gross margin also declined from 33.9% of net sales compared with 40.1% from the year-ago quarter, as a result of increase in mark downs and unfavorable occupancy leverage. The consensus expectation was for a loss of $0.01 per share.
The company expects the finished goods inventory to increase, which coupled with rising SG&A expenses (39.4% for the reported quarter compared with 32.8% for the prior-year quarter) will put further pressure on margins.
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Plains All American Expands Pipeline
Plains All American Pipeline, L.P. (NYSE: PAA) is expanding its existing Mississippian Lime Pipeline, stretching from Coldwater in Comanche County , Kansas to Byron in Alfalfa County , Oklahoma . This project is expected to be online in the fourth quarter of 2013.
This 55-mile pipeline project will enable Plains All American to transport roughly 75,000 barrels of oil per day (Bbls/d). The partnership is installing this pipeline to transfer crude oil from the Mississippian Lime pipeline to its terminal in Cushing , Oklahoma .
In Feb 2012, Plains All American had started the construction of its 170-mile Mississippian Lime Pipeline. This pipeline, in combination with earlier announced Medford-to-Cushing pipeline renovation, is expected to supply approximately 175,000 Bbls/d of crude oil to Cushing. This project is expected to be brought into service in the middle of 2013.
High resource potential in the Mississippian oil play has attracted big oil and gas operators. Plains All American was also lured. This factor along with growing production propels the partnership to deploy additional $150 million in 2013 for the expansion of its Mississippian Lime Pipeline. Other operators including Devon Energy Corporation (NYSE: DVN) and Chesapeake Energy Corporation (NYSE: CHK) have strong acreage in this region.
Fourth-quarter 2012 Earnings Recap
Plains All American announced its fourth-quarter and full-year 2012 results on Feb 6. The partnership posted fourth-quarter 2012 pro forma earnings of $1.01 per unit, beating the Zacks Consensus Estimate by 32 cents. Quarterly earnings were 23.2% higher than the year-ago figure. Its full-year 2012 earnings were $3.35 per unit, surpassing the Zacks Consensus Estimate by 39.6%. The full-year result was 27.9% higher than last year's earnings.
Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.
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