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Stock Summary Report: Charles Schwab Corp (NYSE:SCHW), Bellatrix Exploration Ltd (TSE:BXE), Emulex Corporation (NYSE:ELX)

Stock Summary Report: Charles Schwab Corp (NYSE:SCHW), Bellatrix Exploration Ltd (TSE:BXE), Emulex Corporation (NYSE:ELX)
Written by
Joel Najarian
Published on
October 15, 2014
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Charles Schwab Corp (NYSE:SCHW) posted Q3 earnings just ahead of expectations and revenue that came in slightly ahead of forecasts. The company said net income rose 11% to $321 million. Diluted earnings per share were up 9% to $0.24, which included non-recurring items including an insurance recovery and a charge related to future changes relating to the company's geographic footprint. The overall impact of the charges was to reduce EPS by $0.01. According to Capital IQ analysts had expected EPS of $0.24, excluding items. Revenue gained 13% to $1.55 billion, slightly ahead of estimates for $1.49 billion, according to Capital IQ. Charles Schwab Corp (NYSE:SCHW) shares recently traded at $25.25 with a 52-week range of $22.54 - $31.00.Bellatrix Exploration Ltd (TSE:BXE) on Wednesday revised its third quarter production and 2014 guidance, and provided an update on the oil and gas company's recent acquisition of working interests in the Ferrier area of Alberta. Bellatrix Exploration Ltd (TSE:BXE) said its overall daily production averaged approximately 38,000 boe/d in the third quarter of 2014, a 5% increase from Q2 2014 and a 74% rise from Q3 2013. Fourth quarter production is estimated to average approximately 45,000 boe/d.The company expects 2014 average daily production of approximately 38,500 boe/d with an exit rate of approximately 45,000 to 47,000 boe/d. The company said its revised guidance is based on the timing of proposed expenditures, normal production declines, execution of the revised 2014 capital budget, including the recent tuck-in acquisition, as well as continued tightness in available processing capacity. Bellatrix recently completed a $13.9 million acquisition of working interests in its core Ferrier area in west central Alberta, extending the oil and gas company's Cardium light oil resource play. The acquisition included Cardium mineral rights and prospective lands in Mannville, also in the Ferrier area. Bellatrix has committed to drill a minimum of six wells into the Cardium interval and six wells into the Mannville interval. Two Mannville and two Cardium wells are already in progress, the company said on Wednesday.Emulex Corporation (NYSE:ELX) raised its guidance for preliminary fiscal Q1 revenue. ELX is trading near the lower end of the 52-week range between $4.45 and $8.24. The provider of network convergence solutions to connect servers, storage and networks within a data center said preliminary revenue for the quarter ended Sept. 28 is now expected to be between $102 million and $104 million, up from the previously communicated range between $92 million and $99 million. Analysts polled by Capital IQ have been expecting Q1 sales of $96.1 million. "I am pleased with our execution in the first quarter of 2015, evidenced by solid performance across multiple product lines including Fibre Channel and Ethernet," Emulex Corporation (NYSE:ELX) CEO Jeff Benck said in a statement.

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