Earnings, Sales Beat Expectations
Home Depot earned $0.83 a share in the first quarter, better than the $0.77 expected by analysts. Sales of $19.12 billon also beat the $18.68 billion consensus estimate, and management raised full-year guidance thanks to the strong housing market. HD climbs 3 percent before the bell on my tradeMONSTER platform.
Kosmos Abandons Cameroon Oil Well
Kosmos Energy announced results from its Sipo-1 exploration well in Cameroon, and the news isn't good. The company "failed to encounter commercial reservoirs" and is abandoning the effort. It will also take a $75 million expense in the second-quarter. KOS drops more than 8 percent in early trading.
Phase III Data Lifts AcelRx
AcelRx Pharmaceuticals reported that its Sufentanil NanoTab pain drug reached the primary endpoint in a Phase 3 trial. Management plans to seek approval for the product in the third quarter. ACRX is up 14 percent in early trading.
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