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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of oil explorer Emerald Oil Inc (NYSEMKT: EOX ) fell as much as 11% today after reporting earnings.
So what: Last night, the company announced fourth quarter earnings, and while production increased 29% sequentially and 101% year over year to 220,793 barrels of oil equivalent, the company still lost $10.9 million, or $0.17 per share. That's well below the two-cent loss that analysts expected and is why shares are down big today.
Now what: At the end of the day, even increasing production has to turn a profit, and Emerald's $31.2 million loss last year left investors disappointed. But results are trending in the right direction, and if management can lower costs as planned the company can swing to a profit in 2014. Until I see that operational improvement I won't be jumping in as losses keep piling up.
An energy play you should keep an eye on
Imagine a company that rents a very specific and valuable piece of machinery for $41,000... per hour (that's almost as much as the average American makes in a year!). And Warren Buffett is so confident in this company's can't-live-without-it business model, he just loaded up on 8.8 million shares. An exclusive, brand-new Motley Fool report reveals the company we're calling OPEC's Worst Nightmare. Just click HERE to uncover the name of this industry-leading stock... and join Buffett in his quest for a veritable LANDSLIDE of profits!