"I'm surprised there was not more color around 2013, " said Mark Hanson, oil and gas analyst at Morningstar. "But I think the Eagle Ford sale clues you in. They are probably going to be selling more non-core assets. "The company left its spending Louis Vuitton Outlet forecast for 2013 largely unchanged, but said its board continues to review strategy. Chesapeake shares fell 2. 8 percent to $19. 50 in trading after the close of the New york Stock exchange. Chesapeake's daily production rose 24 percent from a year ago to average 4. 142 billion cubic feet equivalent. The amount of oil and natural gas liquids it produced daily rose 10 percent from the second quarter to 143, 000 barrels.
Even so, the company's share of production from natural gas was a hefty 79 percent in the quarter, a period when the average natural gas price for delivery at Henry Hub fell 32 percent from a year-ago as large supplies weighed in. "They simply Louis Vuitton Bags can't turn off the gas, " Morningstar's Hanson, said. "I don't think they are out of the woods in terms of gas price. "The loss in the third quarter was $2. 1 billion, or $3. 19 cents per share, compared with a profit of $879 million, or $1. 23 cents per share a year earlier. Excluding items, Chesapeake had a profit of 10 cents per share. Analysts on average had expected a profit of 10 cents per share, according to Thomson Reuters I/B/E/S. The Oklahoma City, Oklahoma, company said it is setting up a five-year term loan facility and would use the proceeds to pay off a $4 billion loan it obtained in May of this year, as well as other debt. The May loan was a lifeline at the time when the company was staring at a funding shortfall of about $10 billion. So far this year, Chesapeake has sold about $12 billion of its assets. Two weeks ago McDonald's Corp (MCD. N) posted its worst quarterly restaurant sales growth performance in nine years and investor darling Chipotle Mexican Grill Inc (CMG. N) said the pace of its restaurant sales growth coach outlet could cool in 2013. "Starbucks' solid Q4 performance has ideally positioned us to go into the holiday with strong momentum, " Chief executive Howard Schultz said on a conference call with analysts. Global sales at stores open at least 13 months were up 6 percent, helped by a 5 percent increase in traffic and a 1 percent rise in average spending per visit. That topped the 4. 97 percent rise analysts polled by Consensus Metrix had expected. Same-store sales rose 7 percent in the U. S. -dominated Americas region, topping analysts' estimate of 5. 10 percent. "Those Americas coach outlet store comps were stronger than their Komodo dark roast. A big surprise to everyone, especially given the slowdown at Chipotle and many others in last part of September, " Investment Technology Group restaurant analyst Steve West said. In the coming months, Starbucks is counting on newer products like Evolution Fresh juices and lightly caffeinated, low calorie fruit-flavored Refreshers drinks to keep boosting sales. The company has also recently begun selling its Verismo single-serving brewer and coffee and milk pods to be used in the machine. Starbucks' current holiday quarter is its most important for sales. Asked if those results Coach Online Outlet would be hurt by Hurricane Sandy, Chief Financial Officer Troy Alstead said: "Over the course of the quarter no, it will not be a meaningful impact to us. "
Starbucks has reopened most of the 1, 000 stores that it shuttered as the super storm approached, Alstead said. Separately, Starbucks defended its tax strategy in the uk and other parts of Europe. In October, Reuters revealed that Starbucks had paid only 8. 6 million pounds of income taxes on 3. 1 billion pounds of sales since 1998, by reporting consistent losses Michael Kors Online Outlet, even as it told investors the uk was a profitable market. And, in a new report on Thursday, Reuters found the company's German and French units employed a similar tax strategy. There is no evidence that Starbucks has broken tax rules in any of the countries where it operates.