Earnings were fantastic if you can read past a headline. Thompson Reuters expected sales of $475 million. Actual sales were $508.3. TR expected EPS of $0.77. Actual EPS was $0.88 and were shown as a loss of $0.62 after taking a non cash mark to market on derivatives of $1.50.
It was a blowout on current earnings and a massive increase in future expected production. With oil prices rising, this is going well past $100 a share and sorry shorty shorts, it is going up tomorrow!!!!!
Doubt it! The market will trade CLR on future revenues. Raising oil 2012 output from 30% to 40% vs 2011 will neutralize the impact of the derivitive loss. Especially, with the IRAN situation and rising Brent prices.