Southwestern Energy to Sell Fayetteville Assets for $1.9 B

Mukesh Buch
04 Sep, 2018
New York City

Aquestive Therapeutics net loss widened but revenues jumped. Conn''s plunged on weak same store sales volumes. NAPCO Security said profit and revenues soared. Southwestern Energy agreed to sell its Fayetteville Shale exploration assets for $1.9 billion.

[R]12:00 PM New York City, New York – Aquestive Therapeutics net loss widened but revenues jumped. Conn''s plunged on weak same store sales volumes. NAPCO Security said profit and revenues soared. Southwestern Energy agreed to sell its Fayetteville Shale exploration assets for $1.9 billion.[/R]

Tollbooth Index increased 46.05 or 0.3% to 16,561.45 but for the year-to-date soared 20.4%.

Earnings Review

Aquestive Therapeutics Inc ((AQST)) rose 1 cent to $18.09 after the specialty pharmaceutical products maker said total revenues in the second-quarter ending in June advanced 25% from a year ago to $13.9 million.

Net loss in the quarter widened to $36.5 million or $1.90 per diluted share from $5.9 million in the same period a year ago.

Conn''s Inc ((CONN)) plunged 9.6% or $3.95 to $37.05 after the specialty retailer reported net sales in the first-quarter ending in July jumped 3.5% from a year ago to $296.4 million.

Same store sales in the quarter increased 0.3% but same store sales in furniture segment declined 4.3%, sales in mattress business plunged 13.8%, in home appliance slumped 6.5%, in consumer electronic increased 2.2% and same store sales in home office unit soared 13.7%.

Net income in the quarter surged to $17 million or 53 cents per diluted share from $4.3 million or 14 cents in the same quarter last year.

Caleres Inc ((CAL)) slid 1 cent to $40.42 ahead of footwear retailer scheduled earnings result after the market close.

Coupa Software Inc ((COUP)) fell 33 cents to $71.38 ahead of cloud-based applications provider scheduled earnings result after the market close.

HealthEquity Inc ((HQY)) gained 88 cents to $95.09 ahead of non-bank health savings accounts provider’s scheduled earnings result after the market close.

NAPCO Security Technologies, Inc ((NSSC)) declined 4.2% or 64 cents to $14.46 after the electronic security products maker said net sales in the fourth-quarter ending in June jumped 6% from a year ago to $27.3 million.

Net income in the quarter soared 15% to $3.7 million or 20 cents per diluted share from $3.2 million or 17 cents in the same period a year ago.

Smartsheet Inc ((SMAR)) soared 5% or $1.49 to $31.22 ahead of cloud-based platform provider scheduled earnings result after the market close.

Southwestern Energy Co ((SWN)) dropped 2.8% or 15 cents to $5.46 after the natural gas explorer agreed to sell its Fayetteville Shale exploration, production and midstream assets for $1.87 billion in cash to Flywheel Energy LLC.

The transaction is expected to close in December 2018.