BP's (BP) headache continues over its planned share swap with Russian-owned Rosneft. According to a report from Sky News, the Association of British Insurers (ABI) announced its concerns over the impact of the swap. ABI reportedly controls 10% to 15% of the U.K. stock market.
ABI's reservations also include a Swedish court's decision to block BP's planned venture with Rosneft in the Arctic. Perhaps most concerning of all -- and not just to ABI -- is Wednesday's report announcing that U.S. prosecutors are considering manslaughter charges against BP for its Gulf of Mexico oil spill. Eleven oil workers were killed as a result of the spill.
Continue reading With BP's Problems, Who Enters the Void?
- Exxon Mobil (XOM), Netflix (NFLX), Noble Corp. (NE), Pioneer Natural (PXD) and Noble Energy (NBL) to buy from neutral at Goldman.
- Cenovus Energy (CVE) to conviction buy from neutral and Atwood Oceanics (ATW) to neutral from sell at Goldman as well.
- Southern Company (SO) to buy from hold at Citigroup.
- Chevron (CVX) to buy from neutral at BofA/Merrill.
- Ryder (R), Entergy (ETR) and Seaspan (SSW) to buy from hold at Jefferies.
- Gerdau (GGB), Crown Castle (CCI) and American Tower (AMT) to buy from neutral at UBS.
- Aon (AON) and Willis Group (WSH) to buy from neutral at Janney Capital.
- Ryland Group (RYL) to buy from neutral at Ticonderoga.
Continue reading Analyst Calls: AON, CVX, HBI, MUR, NBL, NFLX, NVDA, SO, XOM ...
The bears were back in charge. Jobless claims rose again in the US, China's trade data was weak, headlines hit about demonstrators being fired upon in Saudi Arabia, and even lower oil prices failed to boost the mood. Treasury bond prices even rallied on a day when bond guru Bill Gross said he was effectively out of the Treasury buying now and on a day when we saw a record monthly government deficit, and gold was lower as the dollar rallied. Moody's also downgraded Spain yet again.
Here were today's closing bell levels:
Dow Jones 11,984.61 -228.48 (-1.87%)
S&P 500 1,295.11 -24.91 (-1.89%)
Nasdaq 2,701.02 -50.70 (-1.84%)
Continue reading Closing Bell: Bears Getting A Vote Again (STD, XOM, GM, GMCR, SBUX, HGSI, LEAP)
Exxon Mobil (XOM
) is a leading independent oil and gas exploration and production company; it competes with other major oil companies like Anadarko (APC
), BP (BP
), Chevron (CVX
) and ConocoPhillips (COP
The recent political turmoil in Tunisia, Egypt, and Libya, which is slowly spreading to other Middle Eastern and North African countries is likely to have an impact on Exxon Mobil's production capacity. This is because the company derives the majority of its revenues from production of crude oil and natural gas liquids (NGLs), and the Middle East and North Africa regions account for a sizable portion of its portfolio.
Continue reading Rising Costs and Political Tensions Could Weigh on Exxon Mobil
"A good source for ﬁnding stocks that consistently boost their dividends is S&P's High Yield Dividend Aristocrats Index," suggests Chuck Carlson
The editor of The DRIP Investor
explains, "Four stocks in that index -- ExxonMobil (XOM
), PepsiCo (PEP
), Procter & Gamble (PG
) and Walgreen (WAG
) -- are also long-time residents of our Editor's Portfolio.
"It's estimated that approximately one-third of the S&P 500 Index's total return since 1926 is due to dividends. Thus, dividends matter, especially if that dividend stream rises over time.
Continue reading Dividend Aristrocrats: Four Income Favorites
Today was all about international turmoil, hands down. Unrest is becoming civil war in Libya and turmoil in North Africa continues to rock headlines. Housing prices also showed yet another drop, something to be expected. This was the worst day in the markets in quite some time. Oil rallied sharply and gold rose on the panic trade.
Here were today's closing bell levels:
Dow Jones 12,207.15 -184.10 (-1.49%)
S&P 500 1,315.44 -27.57 (-2.05%)
Nasdaq 2,756.42 -77.53 (-2.74%)
Top analyst upgrades/downgrades
Continue reading Closing Bell: The Libya Effect (WMT, XOM, SIRI, GMCR, USO, GLD, EWI)
A little over a week ago the chart players took short positions in the oil sector. Since then the world has changed dramatically.
Egypt is engulfed in a civil uprising and protesters are clamoring for President Hosni Mubarak to step down. Uncertainty is the new state of affairs. Uncertainty breeds fear and fear has taken over the energy sector.
The chart guys quickly covered their shorts and now the bulls have the market. This is fundamental. Three million barrels of oil a day pass through the Suez Canal and the Sumed pipeline. You can throw the charts out the window.
Continue reading Brent Crude Oil Holds Above $100 per Barrel
This week got off to a good start considering that last Friday was a rough day in the market due to the geopolitics of the day. Egypt is not getting much better and the economy
has come to a stop as no one is back at work yet. Still, things aren't getting worse. This offered some stability to the region. Brent Sea crude hit $100 per barrel today. Data from the PMI
showed that inflation at the wholesale level continues to firm, while spending seems to outstrip income again.
Here were today's unofficial closing bell levels:
Dow Jones 11,891.93 +68.23 (0.58%)
S&P 500 1,286.12 +9.78 (0.77%)
Nasdaq 2,700.08 +13.19 (0.49%)
Top Analyst upgrades and downgrades
Continue reading Closing Bell: Getting Back On Track (AMB, PLD, XOM, INTC, AMD, GENZ, EGPT, CCME)
The oil market has been in the hands of the bulls. The talk on Wall Street is of $100 per barrel oil. Traders are betting that OPEC will not raise production. In 2008, when oil spiked to $147 per barrel, OPEC was stretched to the limit. Now the situation is different.
The price of oil is reaching a critical point. The oil spike of 2008 was a factor in setting off the Great Recession. Many fear that "demand destruction" -- a permanent downward shift in demand -- could take hold again. The price of oil and the price of gasoline are nearing a point where they are pulling too many dollars out of household budgets. Gas at the pump is close to $3.50 per gallon. If you recall, when gas moved from $3.50 to $4.00, it forced consumers to cut back on their driving and thus brought prices back down.There is an added problem: Our economy is still fragile. A spike in the price of oil could slow growth this year.
Continue reading OPEC Quietly Raises Production; Oil Rally May Stall
"Nowhere is the supply and demand balance as tight as it is with oil; with the somewhat stronger economy here and abroad, the oil gap is closing again," says Jim Powell.
The editor of Global Changes & Opportunities explains, "I think the best way to benefit from rising oil prices is to buy Exxon Mobil (XOM), the world's largest, and one of its most reliable, energy investments.
"I think the price will reach the psychologically important $100 mark by this summer, and maybe a lot sooner.
Continue reading ExxonMobil (XOM): The Best Way to Play Oil
Next Page »