Wall Street Fundamentals Releases New In-Depth Stock Reports on FST, GDP, LPR and XCO
U.S. stocks fell Wednesday, reversing Tuesday’s gains, on growing concerns that the Federal Reserve will begin to scale back stimulus measures as the U.S. economy continues to show improvement. Earlier this week, economic data showed consumer confidence was at a five-year high and home prices in April posted its largest gain in 7 years. On Wednesday, crude-oil futures declined 2 percent to settle near $93 a barrel, which was a four-week low.
Forest Oil Corporation (NYSE: FST) shares traded in the range of $4.72 to $4.93 Wednesday before settling to close at $4.76, a decrease of 0.63 percent. The stock appears to be facing stiff resistance at the $4.88 and $5.32 levels. The company reported net loss grew to $68 million, or $(0.59) per diluted share, for the first quarter of 2013, from a loss of $33 million, or $(0.29) per diluted share, a year prior. Shares of Forest Oil have approximately 28 percent in so far 2013.
More information on Forest Oil and access to the free equity report can be found at: www.WallStreetFundamentals.com/FST
Goodrich Petroleum Corporation (NYSE: GDP) shares traded in the range of $13.08 to $13.63 Wednesday before settling to close at $13.19, a decrease of 0.38 percent. The stock appears to be facing significant resistance at $13.73. The company reported oil production for the quarter totaled 308,000 barrels of oil, compared to 217,000 barrels of oil in the year ago quarter. Shares of Goodrich Petroleum have gained approximately 41.5 percent so far in 2013.
More information on Goodrich Petroleum and access to the free equity report can be found at: www.WallStreetFundamentals.com/GDP
Lone Pine Resources Inc. (NYSE: LPR)(TSX: LPR) shares declined 14.94 percent on more 3.0 million shares traded Wednesday to close at $0.76. The stock appears to be facing some resistance at $0.85 and $0.89. The company reported average daily net sales volumes were 49.4 MMcfe/d for the first quarter of 2013, a decrease of 30 percent from the previous quarter. Shares of Lone Pine Resources have fallen approximately 28 percent so far in 2013.
More information on Lone Pine Resources and access to the free equity report can be found at: www.WallStreetFundamentals.com/LPR
EXCO Resources Inc. (NYSE: XCO) shares traded in the range of $8.28 to $8.59 Wednesday before settling at $8.53, an increase of 0.95 percent. The stock appears to be facing some resistance at $8.60 with some support at $8.50. The company reported a net income of $158 million for the first quarter of 2013, compared to a net loss of $282 million in the year ago quarter. Shares of EXCO have gained approximately 26 percent so far in 2013.
More information on EXCO Resources and access to the free equity report can be found at: www.WallStreetFundamentals.com/XCO
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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
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