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Stock Market & Financial Investment News

News Breaks
October 16, 2012
13:21 EDTPSX, HES, COP, MURHess trades higher after Murphy Oil spin-off news
Hess (HES) is trading up almost 4% in mid-day trading after industry peer Murphy Oil (MUR) announced it will unlock value by spinning off its U.S. fuel making business into a new company. Conoco-Phillips (COP) implemented a similar strategy earlier this year when it spun-off its fuels, petrochemicals and pipeline businesses into Phillips 66 (PSX). Hess, another integrated oil company, operates in two segments: exploration and production, and marketing and refining, making it a potential candidate for a spin off. On September 11, "Mad Money " host Jim Cramer referenced Hess on his show, noting that Hess' exploration and production side of the business is seen as unfocused. At mid-day, Hess is trading up 2.00, or 3.78%, to $54.94.
News For HES;MUR;COP;PSX From The Last 14 Days
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July 30, 2015
13:57 EDTCOPConocoPhillips sees $400M charge in Q3 to terminate drillship contract
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10:00 EDTMUR, HESOn The Fly: Analyst Upgrade Summary
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08:18 EDTHESHess Corp. upgraded to Buy from Hold at Societe Generale
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07:15 EDTCOPConocoPhillips says on track for higher end of its 2015 production target
The company is on track to achieve the higher end of its 2015 production target of 2%-3% growth compared with 2014 production from continuing operations, excluding Libya. Q3 production, excluding Libya, is expected to be 1,510 to 1,550 MBOED, which reflects planned turnaround activity during the quarter.
07:15 EDTCOPConocoPhillips lowers FY15 capex view to $11B from $11.5B
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07:13 EDTCOPConocoPhillips reports Q2 EPS ex-items 7c, consensus 4c
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06:35 EDTMURMurphy Oil upgraded to Neutral from Sell at UBS
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July 29, 2015
17:45 EDTMURMurphy Oil raises FY15 production view to 200K-208K Boe/d from 195K-207K Boe/d
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17:43 EDTMURMurphy Oil sees Q3 production 200,000 boepd
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17:43 EDTMURMurphy Oil reports Q2 adjusted EPS (48c), consensus (55c)
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15:08 EDTCOPNotable companies reporting before tomorrow's open
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13:04 EDTCOPSaudi Arabia to lower oil production after summer, WSJ reports
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10:17 EDTHESHess raises 2015 production forecast to 360K-370K boe/d
Hess said during its Q2 earning call that in light of its "strong performance year to date," the company is raising its overall company production forecast for 2015 by 10,000 barrels of oil equivalent per day to a range of 360,000-370,000 barrels of oil equivalent per day, excluding Libya. The company added that is production improvement in Q2 was driven by higher production from the Bakken and Utica shale plays, the joint development area of Malaysia/Thailand and Tubular Bells in the Deepwater Gulf of Mexico. Bakken net production averaged 119,000 barrels of oil equivalent per day in Q2, above its guidance range, and Hess is increasing its FY15 production forecast for the Bakken to a range of 105,000-110,000 barrels of oil equivalent per day, up from previous guidance of 95,000-105,000 barrels of oil equivalent per day.
07:37 EDTHESHess Corp. reports Q2 adjusted EPS (52c), consensus (73c)
Oil and gas production was 391,000 boepd, up 23 percent from 319,000 boepd in the second quarter of 2014. Assets contributing to the volume growth were primarily the Bakken shale play, the Utica shale play, the Joint Development Area of Malaysia/Thailand and the Gulf of Mexico. Asset sales reduced production by 9,000 boepd. Lower realized selling prices reduced adjusted net income by approximately $740 million after-tax compared with the prior-year quarter. In addition, second quarter 2015 results benefitted from higher production, lower cash operating costs and reduced exploration expenses that were partially offset by higher depreciation, depletion, and amortization expense. On an unadjusted basis, the Corporation reported a net loss of $567 million for the second quarter of 2015, including a noncash goodwill impairment charge of $385 million, and net income of $931 million in the prior-year quarter.
July 27, 2015
05:52 EDTCOPStocks with implied volatility movement; COX COP
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July 26, 2015
18:42 EDTCOPConocoPhillips plans 'thousands' of additional layoffs, WSJ says
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July 22, 2015
10:01 EDTHES, MUROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
07:54 EDTHESHess Corp. upgraded to Outperform from Neutral at Credit Suisse
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06:39 EDTCOPEuro, U.S. oil and gas groups to find tough competition in Iran, WSJ says
European and U.S. oil and gas firms drawn to Iran as sanctions lessen can expect not only opportunities, but also Iranian companies offering tough competition or joint ventures, the Wall Street Journal reports. Though no Iran-based companies have the clout of firms such as Exxon Mobil (XOM) or Schlumberger (SLB), companies that can take on engineering tasks are emerging and growing in Iran, the report says. If the Iran nuclear agreement comes into effect and sanctions are lifted against Iran sometime soon, those Iranian companies will be well positioned to compete for tens of billions of dollars worth of service contracts, the report adds. Other publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:25 EDTMURMurphy Oil upgraded to Neutral from Underperform at Credit Suisse
Credit Suisse assumed coverage on Murphy Oil with a Neutral rating from an Underperform rating and raised its price target to $47 from $44.
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