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Stock Market & Financial Investment News

News Breaks
March 24, 2014
06:26 EDTBASFY, TOT, BP, SSL, DOW, RDS.A, XOM, PSX, CVX, COPPetrochemical companies making bets to profit from natural gas, WSJ reports
Petrochemical companies are meeting at this week's IHS World Petrochemical conference in Houston as it hopes to exploit shale boom in the U.S., reports the Wall Street Journal. Nearly 48 factories and plant expansions with construction costs of more than $100B are expected to be built in 2014 and IHS Chemical estimates that $125B in petrochemical investments related to U.S. shake gas have been announced. Executives from Down Chemical (DOW), Exxon Mobil (XOM) and BASF (BASFY) are expected to make presentations at the conference. Reference Link
News For A;TOT;CVX;DOW;BASFY;PSX;SSL From The Last 14 Days
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January 29, 2016
11:00 EDTCVXStocks with call strike movement; QCOM CVX
Qualcomm (QCOM) July 50 call option implied volatility decreased 7% to 30, Chevron (CVX) June 95 call option implied volatility increased 3% to 30 according to iVolatility.
08:44 EDTCVXChevron falls after earnings
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08:42 EDTCVXChevron reports 2015 capital and exploratory expenditures drop to $34B
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08:41 EDTCVXChevron reports Q4 U.S. refinery crude oil input down 1%
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08:39 EDTCVXChevron International upstream operations earned $593M in Q4
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08:38 EDTCVXChevron reports Q4 net oil-equivalent production 2.67M boepd
Worldwide net oil-equivalent production was 2.67M barrels per day in fourth quarter 2015, up from 2.58M barrels per day in the 2014 fourth quarter. U.S. upstream operations incurred a loss of $1.95B in fourth quarter 2015 compared to earnings of $432M from a year earlier. The decrease was due to lower crude oil realizations, higher depreciation expenses, higher exploration expenses and lower gains on asset sales, partially offset by higher crude oil production. The increase in depreciation and exploration expenses was primarily due to impairments and project cancellations. The company's average sales price per barrel of crude oil and natural gas liquids was $35 in fourth quarter 2015, down from $66 a year ago. The average sales price of natural gas was $1.54 per thousand cubic feet, compared with $3.34 in last year's fourth quarter.
08:35 EDTCVXChevron added about 1.02B barrels of net oil-equivalent proved reserves in 2015
Chevron said that the company added approximately 1.02 billion barrels of net oil-equivalent proved reserves in 2015. These additions, which are subject to final reviews, equate to approximately 107 percent of net oil-equivalent production for the year. The largest additions were from production entitlement effects in several locations and drilling results for the Permian Basin in the United States and the Wheatstone Project in Australia. At year-end, balances of cash, cash equivalents, time deposits and marketable securities totaled $11.3B, a decrease of $1.9B from the end of 2014. Total debt at December 31, 2015 stood at $38.6B, an increase of $10.8B from a year earlier.
08:33 EDTCVXChevron Q4 earnings include impairments and other charges of $1.1B
"Our 2015 earnings were down significantly from the previous year, reflecting a nearly 50% year-on-year decline in crude oil prices. We're taking significant action to improve earnings and cash flow in this low price environment. Operating expenses and capital spending were reduced $9B in 2015 from 2014, and I expect similarly large reductions again in 2016. In addition, asset sales proceeds were $6B in 2015, with additional sales planned for 2016 and 2017," said Chairman and CEO John Watson.
08:32 EDTCVXChevron reports Q4 EPS with impariments and charges (31c), consensus 46c
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07:36 EDTCVXAnalysts 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
07:03 EDTPSXPhillips 66 executing on plan to grow Midstream and Chemicals business
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07:01 EDTPSXPhillips 66 reports Q4 adjusted EPS $1.31, consensus $1.25
We operated well in the quarter, as refining capacity utilization remained high and clean product yield increased," said Greg Garland, Chairman and CEO. "We also reached a significant milestone with the Sweeny Fractionator One and Clemens Caverns coming online. Solid execution in the fourth quarter generated $1.5 billion of cash from operations, and we returned over $700 million to shareholders through dividends and share repurchases." Phillips 66's Midstream fourth-quarter adjusted earnings were $42 million, a decrease of $49 million from the third quarter. Phillips 66's Transportation business generated adjusted earnings of $78 million during the fourth quarter, consistent with the third quarter. NGL adjusted losses were $2 million for the fourth quarter. The $34 million decrease from the prior quarter was largely driven by the timing of adjustments related to the tax extenders bill, signed in December, as well as additional costs associated with the Sweeny Hub.
January 28, 2016
14:29 EDTPSX, CVXNotable companies reporting before tomorrow's open
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13:20 EDTCVXChevron volatility elevated into Q4 and outlook
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10:55 EDTCVX, TOTOPEC delegates say no plan for meeting Russia about production, Bloomberg says
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January 26, 2016
19:02 EDTCVXChevron announces first gas from Chuandongbei Project in Southwest China
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07:48 EDTDOWDuPont repeats call for Dow Chemical merger to close in second half of 2016
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07:02 EDTBASFYInternational Exposition Company to hold an expo
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January 25, 2016
09:43 EDTCVXChevron upgraded to Buy from Accumulate at Tudor Pickering
08:04 EDTAAgilent's Dako announces FDA expanded approval of Dako PD-L1 IHC 28-8 pharmDx
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