BP plc (ADR) (NYSE:BP), reported Tuesday Q3 profit was $2.39 billion, down from $3.18 billion in the year ago period. The oil giant announced a 5.3% hike in its quarterly dividend to $0.10 a share. Q3 operating cash flow was $9.4 billion, up 49.2% YOY, and in line with street estimates. BP plc (ADR) (NYSE:BP) reported Q3 net income adjusted for one-time items and inventory changes fell 18.9% YOY to $3 billion. Analysts credited Q3 results to better-than-expected downstream results. BP's Q3 oil and gas output, excluding Russia, rose 4.1%. Over the past 52 weeks the company has traded between $39.45 and $53.48.Vishay Intertechnology (NYSE:VSH) posted worse-than-expected results for Q3, or the quarter ended Sept. 27, 2014, and provided revenue guidance for Q4 in line with forecasts. Q3 net earnings attributable tos VSH was $27 million, or $0.17 per diluted share, compared with the prior-year period's $32.7 million, or $0.22 per diluted share. Adjusted net earnings were $0.26 per diluted share, ex one-time items, versus $0.20 per share in the same quarter the previous year. The Capital IQ analyst estimate is for $0.28 EPS.Revenue was $638.2 million, up from $602.9 million in the same quarter last year. Analysts were expecting revenue of $650.64 million. Gerald Paul, the company's president and CEO, said, "For the fourth quarter 2014 we anticipate a temporary slow-down of shipments to distribution and guide for revenues of $600 to $640 million at gross margins in line with this volume." Analysts are looking for Q4 revenue of $637.66 million. Vishay Intertechnology (NYSE:VSH) shares closed at $13.71 with a 52-week range of $11.98 - $16.34.The Madison Square Garden Co (NASDAQ:MSG), the sports-and-entertainment company late Monday said its board unanimously approved a plan to explore a possible spinoff that would separate its entertainment businesses from its media and sports businesses, creating two distinct publicly traded companies. Its board also has authorized the repurchase of up to $500 million of the company's Class A common stock and announced the company's director nominations for this year's annual meeting, including two new independent directors for election by the company's Class A shareholders: Nelson Peltz and Scott Sperling. Peltz is the well-known CEO of alternative-investment-management firm Trian Fund Management while Sperling is co-president of private-equity firm Thomas H. Lee Partners."The proposed separation, which the company has been considering since July, is intended to benefit both new companies by allowing each of them to have a balance sheet, capital structure and capital return policy most appropriate for its business," The Madison Square Garden Co (NASDAQ:MSG) said in the late-Monday release. President and CEO Tad Smith added that the live-entertainment company "would capitalize on significant opportunities to grow rapidly within the changing entertainment landscape," while the sports-and-media company "would enjoy steady growth and high cash flow that we expect will result in capital returns to shareholders." As for the board nominations, Peltz and Sperling would replace Alan Schwartz and Vincent Tese, who have been nominated by the board for election as directors by the company's Class B shareholders.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
