Updating Apache, Nordstrom and Kraft

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APACHE CORP. $83 (New York symbol APA; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 390.8 million; Market cap: $32.4 billion; Price-to-sales ratio: 1.9; Dividend yield: 0.8%; TSINetwork Rating: Average; www.apachecorp.com) has been forced to write down the value of its Canadian properties by $390 million due to weak natural gas prices. Without this charge, Apache would have earned $1.2 billion in the three months ended March 31, 2012. That’s up 4.2% from $1.1 billion a year earlier. Earnings per share rose 3.4%, to $3.00 from $2.90, on more shares outstanding. Revenue rose 15.6%, to $4.5 billion from $3.9 billion. Production rose 5.1%, to 769,296 barrels of oil equivalent per day from 731,905 barrels. Half of Apache’s production is oil, which is helping it profit from high oil prices. Moreover, it gets 38% of its gas from outside North America, where gas prices rose an average of 17% in the quarter. Apache is a buy. NORDSTROM INC. $50 (New York symbol JWN; Aggressive Growth Portfolio,…