Anadarko stock down 3% after company misses Wall Street views
Shares of Anadarko Petroleum Corp. fell 3% in the extended session Tuesday after the energy company reported adjusted fourth-quarter earnings below Wall Street expectations. Anadarko said it earned $102 million, or 21 cents a share, in the quarter, compared with $976 million, or $1.80 a share, in the year-ago period. Adjusted for one-time items, the company earned $184 million, or 38 cents a share, in the quarter, compared with $106 million, or 18 cents a share, a year ago. Revenue rose to $3.3 billion from $2.9 billion a year ago. Analyst polled by FactSet had expected adjusted earnings of 61 cents a share on sales of $3.3 billion. Shares of Anadarko had ended the regular trading day down 0.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.