Continental's February traffic rises 3.3%
(8:33 PM ET) LOS ANGELES (MarketWatch) -- Continental Airlines Inc. /zigman2/quotes/206226741/composite CAL -2.00% said late Monday that traffic in February rose 3.3%, while capacity decreased 3.8% compared with the same month a year ago. Load factor, or the percentage of the plane filled with passengers, was up 5.2 percentage points to 77.7%, the Houston-based carrier said.
MBIA reports quarterly net loss of $242 mln
(5:00 PM ET) SAN FRANCISCO (MarketWatch) -- MBIA Inc. /zigman2/quotes/205815173/composite MBI -1.50% reported a fourth-quarter net loss to common shareholders of $242 million, or $1.16 a share, late Monday. That was less than a net loss of $1.2 billion, or $5.21 a share, in the fourth quarter of 2008. The loss in the latest period was driven by $661 million in pre-tax loss and loss adjustment expenses related to guarantees the bond insurer sold on second-lien mortgage loan securitizations. Results were also hit by $200 million in pre-tax realized losses and other settlements on insured derivatives, MBIA said. MBIA shares climbed 1.7% to $4.88 during after-hours trading.
KKR Financial swings to profit in fourth quarter
(4:23 PM ET) SAN FRANCISCO (MarketWatch) -- KKR Financial Holdings LLC.said late Monday it swung to a fourth-quarter net income of $2.12 million, or a penny a share, from a loss of $1.18 billion, or $7.85 a share, in the same period last year. Net investment income recovered to $80.1 million in the latest quarter compared with a loss of $341.7 million a year earlier, the specialty finance company said.
Energy stocks rise with broad market
(9:37 AM ET) NEW YORK (MarketWatch) -- Energy stocks rose on Monday as the broad market gained and Rowan Cos.issued bullish comments on the drilling sector. The NYSE Arca Oil Indexrose 0.6% to 1,027. The NYSE Arca Natural Gas Indexrose 0.9% to 541. The Philadelphia Oil Service Index /zigman2/quotes/210598360/realtime OSX -2.90% rose 0.9% to 203. Rowan Cos.rose 4% to $27.02 after it beat its revenue target and said it's seeing stronger pricing in some of its segments. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.45% rose 47 points, or 0.5%.
Rowan Companies net income down 36%
(9:22 AM ET) NEW YORK (MarketWatch) -- Rowan Cos.said Monday its fourth-quarter net income fell to $60.8 million or 53 cents a share, from $94.3 million or 83 cents a share, in the year-ago period. Excluding a one-time gain of a penny a share, Rowan earned 52 cents a share in the latest quarter. Revenue dropped to $399.8 million from $613 million. Wall Street analysts expected earnings of 54 cents a share and revenue of $392.2 million, according to a survey by FactSet Research. "We have seen a very strong recovery in the U. S. land rig market and have reactivated or obtained commitments for several land rigs in the fourth quarter of 2009 and so far in 2010," the company said.
Edison International profit slips
(8:53 AM ET) NEW YORK (MarketWatch) -- Edison International /zigman2/quotes/206923834/composite EIX -1.31% said Monday that its fourth-quarter profit was $212 million, or 65 cents a share, compared to profit of $217 million, or 66 cents a share, in the year-ago period. Core earnings were 59 cents a share compared to 66 cents a share in the fourth quarter of 2008. Total operating revenues were $3.05 billion, down from $3.23 billion.
Bemis outlines 2010 forecast
(8:47 AM ET) NEW YORK (MarketWatch) -- Bemis Co. Inc. [s :BMS] said Monday that, including the impact of its acquisition of Alcan Packaging Food Americas and excluding special items, it expects full year 2010 adjusted diluted earnings to be in the range of $1.95 to $2.10 a share. FactSet analysts, on average, forecast earnings per share of $1.87 for Bemis.
El Paso moves to profit from year-ago loss
(7:39 AM ET) NEW YORK (MarketWatch) -- El Paso Corp. /zigman2/quotes/202312744/composite EP -3.54% said Monday its swung to a fourth-quarter profit of $265 million, or 36 cents a share, from a loss of $1.69 billion, or $2.43 a share, in the year-ago period. Adjusted earnings for the natural gas producer and pipeline firm rose to 34 cents a share, from 21 cents a share. Revenue fell to $1.19 billion from $1.34 billion. Wall Street analysts expected earnings of 26 cents a share and revenue of $1.24 billion, according to a survey by FactSet Research.