Post Tagged with: "Wall Street"

Source Reuters

S&P 500, Dow retreat after rally; Nasdaq gains further

Reuters


Wall Street’s S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week’s Federal Reserve meeting for signs on how it views a …

Source: CNBC

Stocks drop in volatile trading as Wall Street wraps up worst week since late March

CNBC


Stocks fell in volatile trading Friday as Wall Street wrapped up its worst weekly performance since late March. Investors grappled with a slew of economic reports as well as increasing tensions between China and the U.S.

The Dow Jones

May 15, 2020 - 2:00 pm Capital Markets, Closing Bell Story‎, Finance
Source: CNBC

Why the stock market is up even with historic job losses

CNBC


A record number of Americans just lost their job, and yet stocks are moving higher. This seems paradoxical given the economic toll — to say nothing of the emotional toll — on millions of people across the country without

May 8, 2020 - 3:00 pm Capital Markets, Closing Bell Story‎, Economy, Finance
Source: CNBC

Bank of America survey shows highest cash positions since 9/11 attacks, demand for end to buybacks

CNBC


Professional investors are heading for the sidelines while demanding that companies stop using their cash to buy back stocks and instead improve their balance sheets.

The Bank of America Global Fund Manager survey for April reflects the large level …

April 14, 2020 - 2:00 pm Capital Markets, Closing Bell Story‎, Finance
Source: Reuters

Oil prices plunge by a third as Saudi-Russian pump war looms

Reuters


LONDON – Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signalled they would hike output in a market already …

Source: CNBC

Here are the key levels to watch in utilities and gold as investors get defensive: Trader

CNBC


Is it time to get defensive?

That’s been the question of the week after a volatile bout for U.S. markets, which saw the Dow Jones Industrial Average have its biggest-ever one-day point loss Thursday and biggest one-day point gain …

March 4, 2020 - 12:00 pm Capital Markets, Closing Bell Story‎, Economy
Source: Houston Chronicle

Aramco sees nearly enough early orders to pull off IPO

Houston Chronicle


Saudi Aramco’s bankers are seeing sufficient early demand to pull off the state oil giant’s initial public offering just three days after launching the deal, people with knowledge of the matter said.

The IPO arrangers are indicating in …

Photo: Craig Hartley, Bloomberg News

Losses continue to mount for National Oilwell Varco in third quarter

Houston Chronicle


Losses continue to mount for Houston oil field service company National Oilwell Varco, which posted a nearly quarter billion dollar loss during the third quarter.

In a statement released after close of market on Monday, NOV reported a …

October 29, 2019 - 9:05 am Closing Bell Story‎, Earnings, Oilfield Services
Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

From Reuters


Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.

Brent crude LCOc1 settled …

Source: Lonestar Resources

Energy Bankruptcies Back on the Rise in 2019

From The Houston Chronicle


After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019.

The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and …

Source: Magellan Midstream

Magellan Midstream Prices $500 Million Debt Offering Due 2050

By Tyler Losier, Energy Reporter, Oil & Gas 360

Magellan Midstream prices $500 million of its 3.950% senior notes due 2050
Magellan Midstream Partners LP (stock ticker: MMP), based out of Tulsa, Oklahoma, has priced $500 million of its 3.950%

Source: Abraxas Petroleum

Saltstone Capital Pens Scathing Letter to Abraxas Petroleum

By Tyler Losier, Energy Reporter, Oil & Gas 360

Saltstone Capital Management calls for special committee of the board to review strategic alternatives
Billy Bailey, founder and portfolio manager for Saltstone Capital Management LLC, penned a scathing letter to Abraxas

New U.S. Pipelines Poised to Start Price War for Shale Shippers

New U.S. Pipelines Poised to Start Price War for Shale Shippers

From Reuters


The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings.

These bargain …

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

From Reuters


Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions.…

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

From Reuters


Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing.…

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

From CNBC


Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch.

“While we retain …

Oil Slumps 7% as Trump Announces Additional Tariffs on Chinese Imports

Oil Slumps 7% as Trump Announces Additional Tariffs on Chinese Imports

From Reuters


Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1.

The drop …

Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition frac truck

National Oilwell Varco Posts Nearly $5.4 Billion Loss During Second Quarter

From The Houston Chronicle


Houston oilfield service company National Oilwell Varco reported a multibillion loss during the second quarter amid what executives are calling a “generational oilfield downturn.”

NOV reported a nearly $5.39 billion loss on $2.13 billion of revenue …

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

From Reuters


ConocoPhillips (COP.N) missed Wall Street estimates for quarterly profit on Tuesday as it spent more than expected and took a hit from lower crude prices due to fears of a slowing global economy.

The OPEC and …

Permian Producers May Need to Spend More or Consider Mergers

Permian Producers May Need to Spend More or Consider Mergers

From The Houston Chronicle


As the sweet spots of the booming Permian Basin are drilled, oil companies will need to either spend more money or consider mergers and acquisitions to keep up their crude production volumes, according to the energy …

Wall Street Retreats as Rate Cut Expectations Ease

Wall Street Retreats as Rate Cut Expectations Ease

From Reuters


U.S. stocks declined on Friday, as the S&P 500 retreated after closing at a record for three straight sessions, following an unexpectedly strong U.S. payrolls report that caused investors to rethink how dovish a turn the Federal Reserve …

July 5, 2019 - 6:45 am Closing Bell Story‎, Economy, Energy News, Finance
Oil and Gas Funding is Evolving: An Oil & Gas 360® Special Report

Oil and Gas Funding is Evolving: An Oil & Gas 360® Special Report

For now, Wall Street has turned off the shale funding spigot 

By Bevo Beaven, Editor, Oil & Gas 360, with Richard Rostad, Analyst

Oil and gas funding is evolving. Initial public offerings, secondaries and follow-on equity raises are no longer …