Boston, MA 02/06/2014 (wallstreetpr) – Encana Corporation (USA) (NYSE:ECA) CEO is taking a leaner strategy to revamp the profits of the natural gas giant. Instead of operating dozens of investments in different regions, the company is keen on zeroing in on just about five profitable areas, and those areas are across North America. In order to achieve this goal, ECA has already dropped about 20 percent of its workforce and the company is also considering getting rid of its Deep Panuke natural gas project, an offshore operation in Nova Scotia. The company’s chief financial offer Sherri Brillon recently told investors about the plans to exit some projects. Encana Corporation (USA) (NYSE:ECA) managed to rise $1.95 percent to $18.80 in the previous session.
Boston Scientific Corporation (NYSE:BSX)’s 80 percent profit increase in the fourth quarter was helped by net income tax benefit and reduced spending on research and development. The company registered better sales through its surgical and pain management products which helped to offset the fallout in its heart devices division. The company managed to generate $1.83 billion revenue in the quarter, against the $1.82 billion realized in the same quarter a year earlier. Thus, revenue rose a percentage above the 2012. BSX is now focus its energies and resources in development of high blood pressure device and it has been energized by the failure of the rival Medtronic to bring such device into the market ahead of it. Boston Scientific Corporation (NYSE:BSX) announced earlier this week that it would consider using the data from the failed trial of a device that was being fronted by rival Medtronic so that it can tighten study around its own upcoming device. BSX lost .070 percent in the previous session to close at $12.76.
MGM Resorts International (NYSE:MGM) rallied alongside peers Wynn Resorts, Limited (NASDAQ:WYNN) and Las Vegas Sands Corp. (NYSE:LVS) to tumble in the previous session after it emerged that January performance in gambling capital of China, Macau, was weaker than expected. Analysts had hoped that up to between 11 and 15 percent revenue growth could be realized, but only 7 percent growth was attained, meaning $3.6 billion. While the lackluster January performance is sure to hurt MGM as investors move to the sidelines or adjust their positions, analysts are optimistic the challenges that dogged January have no repeat in the near future. MGM Resorts International (NYSE:MGM) tumbled to 2.19 percent to close $23.67 in the previous session.
