PetroChina Posts 33% Year-Over-Year Profit Plunge and 3 Hot Stocks Turning Heads
Barnes & Noble (NYSE:BKS) has reached a new content licensing partnership with major studios which should reinforce its library of HD movies and TV shows for Nook Video. The firm’s digital bookstore incorporates support for Ultraviolet as it informally collaborates with other competitors who want to break Apple’s lock on digital movies, by permitting consumers to more easily watch content across devices once they have bought digital rights.
PetroChina (NYSE:PTR) has reported a 33 percent year-over-year drop in its quarterly profit, which is below expectations even as revenue increased on higher crude oil production; nine-month profit decreased by 15.9 percent year-over-year. The company is blaming the deficits on the weak world economy, along with lower Chinese gas prices and other factors. However, PetroChina produced 997 million barrels of energy equivalent during the first nine months of this year, which marks a 3.9 percent rise year-over-year, with oil up 2 percent and natural gas up 8.3 percent.
Barclays (NYSE:BCS) now has the distinction of being the first bank ordered to trial in the United Kingdom over the manipulation of Libor rates. The firm is being sued for as much as £37 million by the residential care home operator Guardian Care Homes, over claims of the mis-selling of swaps. This case could lead to new revelations and should constitute a test case for thousands of small firms that also believe they were mis-sold such instruments.
Yandex (NASDAQ:YNDX) has released its earnings, and is guiding for 2012 ruble-based revenue growth of between 42 and 45 percent, which is at the high end of a previous range of 40 to 45 percent. Consensus for current year dollar-based revenue growth is at 47.5 percent, so the ruble is approximately flat compared to the dollar. Yandex site ad revenue was up by 39 percent year-over-year, with 43 percent in the second quarter, ad network rose by 55 percent against 93 percent in the same period, and display ads up 25 percent against 43 percent. Traffic acquisition costs comprised 16.9 percent of revenue, which was up a bit quarter-over-quarter. Cost per click was up10 percent quarter-to-quarter.