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Stock Market & Financial Investment News

News Breaks
October 15, 2012
06:02 EDTCVI, BP, TSO, RDS.A, XOM, CVXU.S. oil production surges but consumers paying more, WSJ reports
Soaring U.S. oil production is pushing down domestic benchmark crude prices and delivering a windfall to some refiners and their investors. But it's not helping consumers at the pump, reports the Wall Street Journal. U.S. crude production is expected to rise 12% this year and 8% in 2013, when it will hit the highest level since 1993, according to government figures. The price of West Texas crude, the U.S. benchmark, has fallen 7% this year, held down by rising supplies from new drilling methods. Still, gasoline prices currently average nearly $4 per gallon nationwide. Reference Link
News For A;BP;XOM;TSO;CVI From The Last 14 Days
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February 2, 2016
07:17 EDTBP, XOMIran 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
06:24 EDTBP, XOMOptions expected to be active
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06:10 EDTBPBP says plans to cut 7,000 jobs by 2017
BP has taken around $1.5 billion in restructuring charges over the past five quarters; this total is expected to approach $2.5 billion by the end of 2016. BP expects to reduce the number of staff and contractor roles in the Upstream segment by around 4,000 during 2016 and by up to 3,000 from the Downstream by the end of 2017.
05:59 EDTBPBP reports Q4 production up 8.3% to 2,369 mboe/d
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05:57 EDTBPBP sees further $1B of restructuring charges incurred in 2016
05:56 EDTBPBP sees Q1 refining margins lower than Q4
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05:56 EDTBPBP sees FY16 underlying production 'broadly flat' with 2015
Sees Q1 reported production "broadly flat" with 4Q15. Says oil prices continue to be challenging in the near term.
05:54 EDTBPBP reports Q4 adjusted profit $196M
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February 1, 2016
18:56 EDTTSOTesoro reports Q4 EPS ex-items $1.83, consensus $2.08
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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.
14:32 EDTTSONotable companies reporting after market close
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13:59 EDTBPBP volatility elevated into Q4 and outlook
BP February weekly call option implied volatility is at 45, February is at 36, March is at 34; compared to its 52-week range of 16 to 46, suggesting large near term price movement into the expected release of Q4 results on February 2.
13:49 EDTBPS&P cuts rating on Shell, puts several other EU oil majors on watch
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11:45 EDTBPKinder Morgan closes acquisition of 15 BP terminals
Kinder Morgan, Inc. (KMI) closed the previously announced plan to acquire 15 refined products terminals from BP Products North America (BP) in a transaction valued at approximately $350M. Kinder Morgan and BP Products North America have also formed a joint venture limited liability company terminal business to own 14 of the acquired assets, which Kinder Morgan will operate and market on the JV's behalf. The fifteenth terminal will be owned and operated solely by KMI. In connection with the transaction, BP has entered into commercial agreements securing long-term storage and throughput capacity from the JV, which will market additional capacity to third-party customers. Kinder Morgan owns a 75% interest in the JV, with BP owning the balance. This investment is included in Kinder Morgan's 2016 capital plan as discussed in its Jan. 27 investor conference, the company noted.
10:44 EDTXOMExxon Mobil technical comments ahead of earnings
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10:19 EDTBPBP appoints Lamar McKay to deputy group chief executive
BP announced the appointment of Lamar McKay to the new position of Deputy Group Chief Executive. McKay, currently chief executive of BP's Upstream segment and a 35-year veteran of BP, will be based in London and take up the role following a suitable handover period. McKay will be succeeded as Upstream chief executive by Bernard Looney, currently chief operating officer, production, in the Upstream segment. In addition to assuming some duties currently borne by BP's Group Chief Executive, McKay's responsibilities will include strategy and long-term planning, safety and operational risk, technology, and corporate governance - including ethics and compliance. BP America will continue to report to him. These appointments headline a reorganisation of BP's executive team that includes other adjustments which will follow the retirement of Katrina Landis, executive vice president of corporate business activities, who leaves the company on May 1 following a career of 24 years with BP. Landis will not be replaced on the executive team and her current role's responsibilities will be assigned to other members of the team. Reference Link
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 EDTXOM, BPAnalysts 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
10:55 EDTXOM, BPOPEC delegates say no plan for meeting Russia about production, Bloomberg says
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