Orlando, FL -- (SBWIRE) -- 09/04/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Shanda Games Limited(ADR) (NASDAQ:GAME), Forest Oil Corporation (NYSE:FST).
Shanda Games Limited(ADR) (NASDAQ:GAME) shares fell 3.64% to $3.84. The company on August 28 announced its unaudited consolidated financial results for the second quarter ended June 30, 2013. In the second quarter of 2013, net revenues were RMB1,085.1 million (US$175.6 million), compared with RMB1,084.6 million in the first quarter of 2013 and RMB1,130.5 million in the second quarter of 2012.
Net income attributable to the Company's shareholders for the second quarter of 2013 was RMB374.4 million (US$60.6 million), representing increases of 52.9% from RMB244.9 million in the first quarter of 2013 and 21.4% from RMB308.4 million in the second quarter of 2012. Earnings per diluted ADS in the second quarter of 2013 were RMB1.40 (US$0.22), compared with RMB0.90 in the first quarter of 2013 and RMB1.10 in the second quarter of 2012.
Additionally, the company on August 20 announced, as part of its efforts to further strengthen the mobile strategy, the launch of "G-Home", a mobile game platform and 36 new mobile games in the pipeline.
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Forest Oil Corporation (NYSE:FST) shares decreased 3.06% to $5.39. The company on Sept. 3 announced that it has entered into a definitive agreement with an undisclosed buyer to sell a portion of its largely undeveloped acreage position located in the Permian Basin of West Texas for proceeds of approximately $35 million. The transaction includes approximately 58,200 gross acres (52,350 net) located in Crockett County, Texas. The sale is expected to close on or before September 10, 2013 and is subject to customary purchase price adjustments and closing conditions. The Company intends to use the proceeds from this divestiture to reduce outstanding borrowings under its bank credit facility.
Additionally, the company on August 6 said it swung to a second-quarter profit on fewer charges. The company reported a profit of $33.4 million, or 28 cents a share, compared with a year-ago loss of $511.2 million, or $4.44 a share. Adjusted per-share earnings were flat at six cents a share. Revenue declined 14% to $116.8 million. Analysts were expecting earnings of a penny a share on revenue of $120 million.
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