Diamonds and Dogs
Geopark (GPRK) keeps pumping oil. Chilean oil company, Geopark is up 3% following second quarter numbers which saw oil and gas production grow 37% year over year and up 11% from the first quarter. Most of the production is coming out of Colombian which saw production increased 33% and 6% from the first quarter. With the price of oil up 10% in the last month, earnings should be pretty good going forward.
No fun at Cedar Fair (FUN). The amusement park is down 6% to a 52 week low following earnings. The earnings were mixed. Net revenues were down 2% due to a 3%, or 314,000-visit, decrease in attendance. This was partially offset by a 3%, or $2 million, increase in out-of-park revenues, including resort accommodations. Cedar Fair lowered guidance for the full year. Management expects attendance to improve in the peak vacation months of July and August and the expansion of our WinterFest events in November and December. The company has two new coasters Steel Vengeance at Cedar Point and Hang Time at Knott's Berry Farm. The company can't blame the weather.