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Stock Market & Financial Investment News

News Breaks
January 24, 2013
06:05 EDTXOM, PXD, COG, RRC, ECA, DNR, CHKChesapeake to let EPA test fracking drilling site, WSJ reports
Chesapeake Energy (CHK) agreed to let the EPA conduct extensive tests at one of its drilling sites as part of an investigation into the safety of hydraulic fracturing, or fracking, an administration official said, reports the Wall Street Journal. The testing will serve as a cornerstone of a yearslong EPA study to determine whether the process poses a risk to water supplies. Reference Link
News For CHK;RRC;PXD;DNR;COG;XOM;ECA From The Last 14 Days
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February 2, 2016
07:17 EDTXOMIran still struggling to finalize oil drilling contract terms, WSJ says
Iran is still having difficulty finalizing terms under which foreign energy companies can drill for oil there, the Wall Street Journal reports. Iranian oil officials canceled a conference scheduled for this month in London where new contracts for Western companies were supposed to be presented, with official blaming the cancellations on the inability to secure enough U.K. visas for the event, the report says. Another reason for the cancellation are conservative factions thinking that the contracts drawn up by president Hassan Rouhani's oil ministry are too generous to foreign entities, the report says, citing people familiar with the matter. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:42 EDTCOGCabot Oil & Gas reduces FY16 capital budget to $3235M
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06:39 EDTCOGCabot Oil & Gas sees Q4 production about 1,642 Mmcfe per day
Cabot expects production for Q4 to be approximately 1,642 million cubic feet equivalent, or Mmcfe, per day, including approximately 1,552 million cubic feet, or Mmcf, per day of natural gas and approximately 14,977 barrels, or Bbl, per day of liquids. Equivalent production for the quarter is expected to exceed the midpoint of the company's guidance range of 1,626 Mmcfe per day. Based on the expected production volumes for the fourth quarter, the company expects its total production growth for 2015 to be approximately 13%. Natural gas price realizations, including the effect of hedges, are expected to be $1.94 per thousand cubic feet in Q4. Excluding the impact of hedges, natural gas price realizations for the quarter are expected to be $1.52 per Mcf, representing a 75c discount to NYMEX settlement prices and an improvement relative to the company's Q4 guidance range of 90c-$1.00 below NYMEX settlement prices. Realized natural gas prices exceeded the company's expectations due to an improvement in basis differentials throughout Appalachia during the quarter. Oil price realizations are expected to be $37.74 per Bbl. Cabot expects to incur approximately $97 million in capital expenditures associated with activity during the fourth quarter of 2015. Based on this anticipated level of spending during the quarter, the Company expects to incur approximately $774 million in capital expenditures associated with activity during the full year of 2015, compared to the Company's 2015 capital program guidance of $850 million. The lower capital spending was a result of reduced activity levels in the fourth quarter, along with continued improvements in operating efficiencies and further reductions in service costs. Including the change in accrued capital costs relating to 2014 operating activity that was paid in 2015, total capital expenditures (including acquisitions) for 2015 are expected to be approximately $972 million. Contributions to equity method investments for 2015 are expected to be approximately $29 million. Cabot expects to recognize a non-cash, after-tax impairment charge of approximately $73 million in the fourth quarter of 2015 primarily associated with legacy, non-core fields due to the significant decline in commodity prices.
06:24 EDTXOMOptions expected to be active
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February 1, 2016
16:04 EDTECAViking Global Investors reports 6.5% passive stake in Encana
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16:01 EDTCHKOptions Update; February 1, 2016
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14:32 EDTXOMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Exxon Mobil (XOM), consensus 64c... Pfizer (PFE), consensus 52c... United Parcel Service (UPS), consensus $1.42... Dow Chemical (DOW), consensus 70c... Emerson Electric (EMR), consensus 51c... Archer-Daniels-Midland (ADM), consensus 66c... Baxter (BAX), consensus 32c... Sirius XM (SIRI), consensus 3c... Royal Caribbean Cruises (RCL), consensus 92c... Ally Financial (ALLY), consensus 51c... Michael Kors (KORS), consensus $1.46... ADT Corp. (ADT), consensus 46c.
10:44 EDTXOMExxon Mobil technical comments ahead of earnings
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08:39 EDTXOMExxon Mobil volatility elevated into Q4 and outlook
Exxon Mobil February weekly call option implied volatility is at 31, February is at 29, March is at 27; compared to its 52-week range of 13 to 40, suggesting large near term price movement into the expected release of Q4 results on February 2.
January 29, 2016
15:10 EDTXOMExxon Mobil volatility elevated into Q4 and outlook
Exxon Mobil February weekly call option implied volatility is at 33, February is at 29, March is at 27; compared to its 52-week range of 13 to 40, suggesting large near term price movement into the expected release of Q4 results on February 2.
07:36 EDTXOMAnalysts still predicting mergers as oil slump drags on, WSJ reports
Bankers and analysts have been predicting a wave of merger activity will come almost since crude prices began to fall from over $100 a barrel, but the only big acquisition by an oil major so far has been Shell's (RDS.A) purchase of BG Group (BRGYY), said The Wall Street Journal, which added that analysts still believe deal-making is likely to return this year if prices continue to languish. With Chevron (CVX) set to report today and its big peers soon to follow, analysts are expecting the four biggest publicly traded Western oil companies to have their weakest combined profits since 1998, the Journal noted. The report noted that U.S. shale oil producers, such as Apache (APA) and Whiting Petroleum (WLL), were previously targeted though potential sellers were reluctant to accept offers as they hoped for a rebound in oil prices and potential buyers wondered if any deal struck would look expensive if crude prices fell further, but "both impediments are gone now," the Journal contends. Reference Link
January 28, 2016
11:18 EDTRRCOptions with increasing put volume
Options with increasing put volume: DRII SNE LH CAVM KSS UCO ILMN JBLU AVT SWK JNPR RRC CL HES
10:55 EDTXOMOPEC delegates say no plan for meeting Russia about production, Bloomberg says
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10:05 EDTRRC, CHKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Azure Midstream Partners (AZUR) downgraded at Stifel... Chesapeake (CHK) downgraded to Hold from Buy at Wunderlich... CorEnergy (CORR) downgraded at Stifel... DCP Midstream (DPM) downgraded to Hold from Buy at Stifel... DynCorp (DCP) downgraded at Stifel... Ericsson (ERIC) downgraded on challenging outlook at BMO Capital... H&E Equipment (HEES) downgraded to Neutral from Buy at UBS... Halcon Resources (HK) downgraded to Hold from Buy at Wunderlich... InvenSense (INVN) downgraded to Market Perform from Outperform at Barrington... Invitae (NVTA) downgraded to Market Perform from Outperform at Leerink... Kirby (KEX) downgraded to Sector Perform from Outperform at RBC Capital... MEG Energy (MEGEF) downgraded to Equal Weight from Overweight at Barclays... Metro (MTTRY) downgraded to Underweight from Neutral at JPMorgan... OSI Systems (OSIS) downgraded to Hold following Q2 miss at BB&T... Oasis Petroleum (OAS) downgraded to Hold from Buy at Wunderlich... Pan American Silver (PAAS) downgraded to Market Perform from Outperform at FBR Capital... Qualcomm (QCOM) downgraded to Market Perform from Outperform at William Blair... Range Resources (RRC) downgraded to Equal Weight from Overweight at Barclays... Rockwell Automation (ROK) downgraded to Underperform from Market Perform at Bernstein... Royal Gold (RGLD) downgraded to Market Perform from Outperform at FBR Capital... SEI Investments (SEIC) downgraded to Underperform at Keefe Bruyette... SandRidge Energy (SD) downgraded to Sell from Hold at Wunderlich... Seadrill (SDRL) downgraded to Equal Weight from Overweight at Morgan Stanley... ServiceNow (NOW) downgraded to Neutral from Buy at MKM Partners... State Bank Financial (STBZ) downgraded to Hold from Buy at Sandler O'Neill... Sunoco Logistics (SXL) downgraded at Stifel... Tallgrass Energy GP (TEGP) downgraded to Hold from Buy at Stifel... Tallgrass Energy (TEP) downgraded to Hold from Buy at Stifel... Textron (TXT) downgraded to Hold from Buy at Drexel Hamilton... TripAdvisor (TRIP) downgraded to Underperform from Market Perform at Raymond James... Tupperware Brands (TUP) downgraded to Neutral from Overweight at Piper Jaffray... U.S. Steel (X) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Neutral from Buy at UBS... Welltower (HCN) downgraded to Hold from Buy at Evercore ISI... Western Gas Partners (WES) downgraded to Hold from Buy at Stifel... Whiting Petroleum (WLL) downgraded to Hold from Buy at Wunderlich.
09:01 EDTCHKChesapeake downgraded to Hold from Buy at Wunderlich
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05:41 EDTRRCRange Resources downgraded to Equal Weight from Overweight at Barclays
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January 27, 2016
11:09 EDTRRCOptions with increasing put volume
Options with increasing put volume: RDN MTG HES BKD TAP RRC GG MTW AIG CLR PYPL
10:15 EDTCOGCabot Oil & Gas downgraded to Peer Perform from Outperform at Wolfe Research
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10:14 EDTRRCRange Resources downgraded to Peer Perform from Outperform at Wolfe Research
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10:10 EDTXOMActive calls: XOM AAPL SPY BAC UUP
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