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Stock Market & Financial Investment News

News Breaks
March 14, 2014
08:31 EDTXOM, KBR, CVX, FLR, CBIFluor, KBR face challenging environment for backlog growth, says Stephens
A more disciplined approach to CapEx signaled by international oil companies, along with updates from the analyst days of Chevron (CVX) and Exxon (XOM), lead Stephens to conclude that large project engineering and construction services companies, including Fluor (FLR) and KBR (KBR), face a challenging environment for backlog growth. Stephens said it continues to favor Chicago Bridge & Iron (CBI), which is the only large-project-focused E&C stock on which the firm has an Overweight rating.
News For FLR;KBR;CBI;CVX;XOM From The Last 14 Days
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April 23, 2015
05:50 EDTCBIStocks with implied volatility movement; TRN CBI
Stocks with implied volatility movement; Trinity Industries (TRN) 47, Chicago Bridge & Iron (CBI) 61 according to iVolatility.
April 22, 2015
18:28 EDTFLRFluor awarded contract for tank farm development in Athabasca oil sands region
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06:10 EDTXOMBP CEO says has no appetite for megamerger, FT reports
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April 21, 2015
12:59 EDTXOM, CVXExxon Mobil CEO sees continued pressure on oil prices, WSJ says
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07:22 EDTCVXOceaneering cut to sell following recent rally at Jefferies
Jefferies downgraded Oceaneering (OII) to Underperform from Hold citing the recent rally in shares and its lowered order outlooks across its subsea hardware coverage. Underperform is the firm's equivalent to a sell rating. It cut its price target for shares to $49 from $52. Oceaneering closed Monday's trading up 45c to $57.56. Jefferies calls Chevron (CVX) and Galp Energia its top stock picks in the integrated oil sector.
April 20, 2015
15:16 EDTCBIGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
14:16 EDTCBIEinhorn lists AerCap, CBI, GM as new longs, Bloomberg reports
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09:36 EDTCVXActive equity options trading on open
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08:32 EDTXOMBofA/Merrill European strategists hold an analyst/industry conference call
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08:03 EDTCBIChicago Bridge & Iron awarded contract by NefteGazIndustriya
CB&I announced it has been awarded a contract by NefteGazIndustriya through project developer MAVEG, to provide engineering and procurement services for the Afipsky Oil Refinery in Krasnodar, Russia. CB&I's project scope includes early detail engineering and procurement services for multiple new process units, including a 2.5M ton per annum hydrocracker unit.
06:06 EDTCVXChevron to face off against lawyer in appears court, WSJ reports
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April 17, 2015
14:40 EDTXOMAnadarko weighs sale of Mozambique gas assets to Exxon, Reuters reports
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08:29 EDTXOM, CVXU.S. may be at, or near, peak oil output, WSJ says
New data and forecasts suggest lower crude prices are finally prompting U.S. energy companies to cut back their crude output, according to The Wall Street Journal, citing reports from OPEC, the DOE and North Dakota. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Publicly traded drillers and oil services companies include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link
April 14, 2015
06:40 EDTCVX, XOMU.S. shale forecast, Yemen fighting lift oil prices, Reuters says
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April 13, 2015
10:00 EDTFLR, KBROn The Fly: Analyst Downgrade Summary
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08:19 EDTKBR, KBRKBR downgraded to Underperform from Outperform at CLSA
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08:18 EDTFLR, FLRFluor downgraded to Outperform from Buy at CLSA
April 12, 2015
16:49 EDTXOM, CVXIEA says Iran nuke deal to have limited impact on supply for years, Reuters says
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April 10, 2015
08:08 EDTKBRKBR awarded construction contract for Flint Hills Resources project Eagle Ford
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05:47 EDTXOMStocks with implied volatility movement; EWH XOM
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