Investors Buzz: Halcon Resources Corp(NYSE:HK), Pike Electric Corporation(NYSE:PIKE), Mechel OAO (ADR)(NYSE:MTL)
Halcon Resources Corp(NYSE:HK) shares fell 3.47% to $6.39. The company, on May 2, announced its first quarter 2013 financial results and provided an operational update. The company reported net income for the three months ended March 31, 2013 of $17.5 million, or $0.05 per diluted share, compared to a net loss of $2.7 million, or $0.04 per diluted share in the comparable quarter of 2012. Revenues for the first quarter of 2013 increased to $190.7 million, compared to $26.9 million for the three months ended March 31, 2012.
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Pike Electric Corporation(NYSE:PIKE) shares fell 1.65% to $11.90. The company on May 6 reported fiscal third quarter 2013 results for the period ended March 31, 2013. Total revenue in the third quarter 2013 was $200.2 million, up 23% compared to $162.8 million in the year-ago period. Net income in the third quarter 2013 totaled $2.7 million, or $0.08 per diluted share. In the year-ago period, net income totaled $2.0 million, or $0.06 per diluted share.
Additionally, the company on May 15 announced the pricing of the secondary public offering of shares of its common stock (the “offering”) by an entity affiliated with Lindsay Goldberg LLC (the “selling stockholder”) at a price to the public of $11.50 per share. The offering of the shares has been upsized from 6,500,000 shares to 6,956,522 shares.
Mechel OAO (ADR)(NYSE:MTL) shares dropped 2.72% to $3.58. The company, on May 13, said that it saw signs of improving market conditions, particularly for metallurgical coal in the Asia and North America. The company reported that coking sales increase by 13% on the quarter, while sales of anthracite and pulverized coal rose by 19% and 14%, respectively. The company also saw an 8% decline in coal output and a 9% fall in steel output on the quarter. Coal production fell due to seasonal weather conditions at its open-pit mines, while steel production was off in response to market weakness.