Today in the market 22/07/2013 - US

Energy stocks down; Halliburton off nearly 1%

Energy stocks edged lower Monday, following the broader market in sideways trading as Wall Street weighed earnings, including those of oil-field services Halliburton Co. (HAL.NaE)

Shares of Halliburton (HAL.NaE) , which posted second-quarter results that surpassed analyst expectations, declined 0.8%.

The company reported earnings of 73 cents per share, compared with expectations of 72 cents per share. The results compare with earnings of 79 cents per share a year earlier.

Revenues from the company's North American business fell 8.2%, while revenues from its international arm rose 14%. The company forecast improvement in North America for the second half of the year and higher revenue from Latin America.

Schlumberger Ltd. (SLB.NaE) shares led among energy companies on the S&P 500, up 2.4%. Schlumberger reported earnings of $1.15 a share, also above estimates, on Friday. The stock rose more than 5% after earnings were reported.

Other winners on Monday included refiner Tesoro Corp. (TSO.NaE) , up 1.5%, and Valero Energy Corp. (VLO.NaE) , with shares up 0.8%.

Valero reports second-quarter results on Tuesday, while Tesoro is scheduled to report Aug. 1.

Analysts expect Valero to post per-share earnings of $1.02 a share, compared with $1.08 a share in the previous quarter.

Top losers on Monday included Newfield Exploration Co. (NFX.NaE) , with shares down nearly 2%.

Major oil and gas companies were mixed. Chevron Corp. (CVX.NaE) shares added 0.3%, while Exxon Mobil Corp. (XOM.NaE) shares declined 0.3% and ConocoPhillips (COP.NaE) shares were off 0.1%.

The SPDR Energy Select Sector , an exchange-traded fund focused on energy names, fell 0.1%.
Source: https://www.fidelity.co.uk/investor/news-views/today-in-the-markets/us-detail.page?resId=201307221351MRKTWTCHNEWS_SVC_318F02F8-F2EF-11E2-9F9D-002128040CF6&requestId=1&showChain=true&FullArticle=true