Stocks in Focus: Eldorado Gold Corp, SK Telecom Co. Ltd, PPL Corporation, Gold Fields Limited
Eldorado Gold Corp (USA)(NYSE:EGO) shares increased 0.14% to $7.31. The company, on May 24, in accordance with Toronto Stock Exchange requirements, announced the voting results for the election of its Board of Directors at the Company’s Annual Meeting of Shareholders held on May 2, 2013 in Vancouver, British Columbia. The results of the other matters considered at the meeting are reported in the Report on Voting Results as filed on SEDAR on May 3, 2013.
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SK Telecom Co., Ltd. (ADR)(NYSE:SKM) shares decreased 1.77% to $21.10. The company on May 2 announced its earnings on a K-IFRS consolidated basis for the first quarter of 2013: revenue of KRW 4.113 trillion, operating income of KRW 410.6 billion and net income of KRW 345.9 billion. The revenue decreased by 2.0% quarter-on-quarter (QoQ) due to the impact of shorter business days and business suspension in February. However, on a year-on-year (YoY) basis, the revenue increased by 3.6% backed by strong growth of LTE subscribers and new businesses.
PPL Corporation(NYSE:PPL) shares fell 2.19% to $29.92. The Pennsylvania Public Utility Commission on Thursday (5/23) approved PPL Electric Utilities’ request to implement a new charge to recover costs associated with capital investments on its distribution system to improve service reliability.
Additionally, the company, on May 2, said its first-quarter earnings fell 24% as the public utility’s revenue slumped, though core earnings improved slightly. The company reported a profit of $413 million, or 65 cents a share, down from $541 million, or 93 cents a share, a year earlier. Excluding some energy-related economic activity and other items, earnings from ongoing operations rose to 71 cents from 70 cents. Revenue shrank 40% to $2.46 billion. Analysts most recently projected ongoing earnings of 70 cents on revenue of $3.37 billion.
Gold Fields Limited (ADR)(NYSE:GFI) shares increased 0.52% to $5.77. The company, on May 10, announced net earnings from continuing operations for the March 2013 quarter of R236 million compared with R376 million in the December 2012 quarter and R381 million in the March 2012 quarter. In US dollar terms net earnings for the March 2013 quarter of US$27 million compared with US$41 million in the December 2012 quarter and US$49 million in the March 2012 quarter.