Exxon Mobil Finishes Up and 4 Hot Stocks Change Hands
Exxon Mobil Corp. (NYSE:XOM) stated that Q3 oil-equivalent production saw a 7.5 percent drop from Q3 of 2011. This does not include the impacts of entitlement volumes, OPEC quota effects, and divestments. The company’s production dropped 2.9 percent.
Alkermes, Inc. (NASDAQ:ALKS) consensus is at 77c. The company sees its FY13 revenue reaching $510 million to $540 million, which has risen from from $490 million to $530 million, consensus $516.17 million. The company also sees VIVITROL net sales ranging from $45 million to $55 million and still predicts milestone revenues,which are not related to main clinical development candidates, which will range from $20 million to $30 million.
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Toyota Motor Corp. (NYSE:TM) has reported that its October U.S. sales have risen 15.8 percent to 155,242 units.
Bank of America (NYSE:BAC): Chesapeake Energy Corporation (NYSE:CHK) announced that it has engaged Bank of America, Goldman Sachs Bank (NYSE:GS), and Jefferies Finance LLC (NYSE:JEF) to help with arranging an unsecured five-year term loan facility in an aggregate principal amount totaling $2.0 billion. Chesapeake plans to use the net proceeds to repay the rest of the outstanding borrowings beneath the company’s existing term loan facility, arranged in May 2012, and to repay outstanding borrowings beneath the company’s corporate revolving credit facility. This is expected to enhance the company’s liquidity and financial flexibility as it keeps executing its previously announced asset sales strategy, and it will allow the future repayment of higher cost debt.