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Stock Market & Financial Investment News

News Breaks
February 6, 2013
09:11 EDTTOT, CVX, EChevron to develop $5.6B Mafumeira Sul Project in offshore Angola
Chevron (CVX)'s Cabinda Gulf Oil Company subsidiary will proceed with the development of the Mafumeira Sul project located offshore Angola. The $5.6B Mafumeira Sul project is the second stage of development of the Mafumeira Field located in Block 0. Mafumeira Sul is expected to reach first oil in 2015 and build toward peak total daily production of 110,000 barrels of crude oil and 10,000 barrels of liquefied petroleum gas. Chevronís subsidiary is the operator and holds a 39.2% interest in Mafumeira Sul. Chevronís partners are Sonangol E.P. (41%), Total (TOT) (10%) and ENI (E) (9.8%).
News For CVX;TOT;E From The Last 14 Days
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February 12, 2016
14:38 EDTTOTTotal management to meet with JPMorgan
Meeting to be held in New York on February 17 hosted by JPMorgan.
February 11, 2016
14:45 EDTTOT, CVXUAE Minister says OPEC members ready to cooperate on production cut, WSJ says
UAE Energy Minister Suhail bin Mohammed al-Mazrouei said OPEC members are ready to cooperate on a production cut, according to The Wall Street Journal. "The positive thing is the current market is forcing everyone not to increase output," al-Mazrouei said. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).
06:47 EDTTOTTotal cuts FY16 organic CapEx to around $19B
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06:46 EDTTOTTotal reports 2015 return on equity for the Group was 11.5%
Total resisted the drop in prices by leveraging the effectiveness of its integrated model and its strong operational performance. The Group will further pursue this strategy and all of the necessary actions will continue to be implemented to reduce costs and maintain a solid balance sheet, demonstrating once again the Group's capacity to adapt.
06:46 EDTTOTTotal reports Q4 adjusted EPS 88c, consensus 70c
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February 8, 2016
13:28 EDTTOTTotal starts up production at Laggan-Tormore in west of Shetland area
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07:39 EDTCVXDiverse set of companies planning layoffs, pulling back spending, WSJ says
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February 4, 2016
15:39 EDTTOT, CVXWhite House 'clean transportation' plan proposes $10 per barrel fee on oil
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February 2, 2016
15:16 EDTCVXS&P takes rating actions on U.S. investment-grade E&P companies
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07:17 EDTCVX, TOTIran 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
05:33 EDTTOTTotal signs long-term agreement to supply LNG to Pertamina
Total has signed long-term liquefied natural gas, or LNG, sale and purchase agreements with state-owned Indonesian company Pertamina for the supply of LNG volumes increasing from 0.4M to 1M tonnes per year over a period of 15 years beginning 2020. Under the terms of the agreements, Total will purchase from 2020 around 0.4M tonnes per year of Pertamina's contracted LNG volumes from Corpus Christi LNG, currently under construction in the United States. In parallel, Total will supply from its global portfolio to Pertamina a volume growing over time from 0.4M to 1M tonnes per year of LNG.
February 1, 2016
13:49 EDTTOT, ES&P cuts rating on Shell, puts several other EU oil majors on watch
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January 31, 2016
11:39 EDTCVXS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.

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