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Stock Market & Financial Investment News

News Breaks
May 27, 2014
08:46 EDTLINE, XOMLINN Energy swap less accretive than expected, says Oppenheimer
After Linn Energy (LINE) announced an asset swap with Exxon Mobil (XOM), Oppenheimer says that the accretion for Linn from the deal is only about half of what the firm was expecting. The firm thinks the deal does little to reduce Linnís leverage, and it keeps an Underperform rating on the shares.
News For LINE;XOM From The Last 14 Days
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May 27, 2015
10:14 EDTXOMAnalyst says China trend good for oil equities
China's demand for oil has been stronger than expected and the trend should be positive for oil companies' stocks, research firm Bernstein wrote in a note to investors today. WHAT'S NEW: Chinese oil imports reached a record high in April, rising 9% versus the same period a year earlier, Bernstein analyst Neil Beveridge reported. The imports have exceeded expectations and have been boosted by high gasoline demand, according to the analyst. The high gasoline demand in China, in turn, has been driven by a 50% year-over-year increase in the sales of SUVs, according to Beveridge. Analysts will respond to this trend by increasing their global oil demand estimates, he predicted. Oil prices are likely to rise in the near-term, providing a tailwind for oil equities, according to Beveridge, who identified InterOil (IOC) and China's CNOOC (CEO) as two of his favorite names in the Asian region. Other publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). WHAT'S NOTABLE: Jaguar Land Rover, owned by India's Tata Motors (TTM), is launching its Range Rover Evoque SUV in China this fiscal year, but is having trouble ramping up production of the vehicle, Forbes reported last week. PRICE ACTION: in early trading, CNOOC was flat at $162.50 and InterOil slipped fractionally to $46.58.
May 22, 2015
10:21 EDTXOMExxon Mobil says media reports on Iran sanctions lobbying inaccurate
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May 20, 2015
13:15 EDTXOMExxon Mobil announces significant oil discovery offshore Guyana
Exxon Mobil announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana. The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., and encountered more than 295 feet of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 feet in 5,719 feet of water. Stabroek Block is 6.6M acres. The well was spud on March 5. The well data will be analyzed in the coming months to better determine the full resource potential. Esso Exploration and Production Guyana Ltd. holds 45% interest. Hess Guyana Exploration Limited holds 30% interest and CNOOC Nexen Petroleum Guyana Limited holds 25% interest.
May 19, 2015
09:22 EDTLINEOn The Fly: Pre-market Movers
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07:44 EDTLINELINN Energy 16M share Spot Secondary priced at $11.79
Raymond James, BofA/Merrill, Barclays, Citigroup, Credit Suisse, JPMorgan, Morgan Stanley and RBC Capital acted as joint book running managers for the offering.
May 18, 2015
19:12 EDTLINEOn The Fly: After Hours Movers
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16:23 EDTLINELINN Energy files 16M units representing limited liability company interests
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10:01 EDTLINEOn The Fly: Analyst Downgrade Summary
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06:51 EDTLINELINN Energy downgraded to Sell from Neutral at Goldman
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May 15, 2015
06:44 EDTXOMEnvironmentalists file lawsuit over oil train safety rules, NY Times says
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