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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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September 1, 2015
07:40 EDTTOTTotal upgraded to Buy from Hold at Deutsche Bank
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August 31, 2015
17:24 EDTPSXPhillips 66 shares could jump, Barron's says
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16:23 EDTPSXOn The Fly: Top stock stories for Monday
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12:53 EDTCVXChevron volatility elevated as WTI oil rally's 4% to $47
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12:20 EDTPSXOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday, putting the averages on track to close out a down month with a down day. The weakness is being attributed to comments from several Fed officials on the likelihood of interest rates rising sometime this year. Also impacting the negative tone may be the media reports regarding China pulling back on its recent asset purchases to shore up its stock market. ECONOMIC EVENTS: In the U.S., the Chicago PMI dipped to 54.4 in August from 54.7 in July, versus expectations for it to have edged up to 54.5. The Dallas Fed manufacturing survey general activity index fell to -15.8, versus expectations for a reading of -4.0. In Asia, Chinese stocks fell once again, with the Shanghai composite index closing down 0.82% to finish the month of August with a 12% decline. Japan's Nikkei index finished the month with an even worse daily decline, falling about 1.3%, giving the Nikkei an 8% drop during August. In Europe, a flash estimate from Eurostat showed inflation in the euro area remained unchanged at 0.2% in August. COMPANY NEWS: Shares of Phillips 66 (PSX) advanced 3% after Warren Buffett's Berkshire Hathaway (BRK.A) disclosed late Friday a $4.5B stake in the oil and gas refining and marketing company. Berkshire owns of the oil refiner. Berkshire increased its stake in Phillips 66 to nearly 58M shares between August 26 and August 28, according to filings with the SEC... Intel (INTC) and Goldman Sachs (GS) were the top gainers on the Dow and among the only names in the green among the members of the bluechip index, as both stocks benefited from analyst upgrades. Research firm Northland Capital upgraded Intel to Outperform, saying that the PC market has bottomed and that the chipmaking giant should benefit from its pending acquisition of Altera (ALTR), while Evercore ISI upgraded Goldman Sachs to Buy, saying the recent pickup in volatility has led to higher trading volumes, which should give a boost to the typically slowest summer month of the year. MAJOR MOVERS: Among the notable gainers was Vital Therapies (VTL), which gained 14% after the company announced that additional data from its VTI-208 clinical trial were presented this weekend at an international symposium on dialysis in liver disease. Also higher were shares of The Medicines Company (MDCO), which rose 18% after several analyst said that a Phase I trial of the company's ALN-PCSsc cholesterol treatment yielded better than expected results. Shares of The Medicines Company's partner on the drug, Alnylam Pharmaceuticals (ALNY), slipped 4% following the data announcement. Also lower were shares of ConforMIS (CFMS), which fell 18% after the company initiated a voluntary recall of specific serial numbers of patient-specific instrumentation for its knee replacement product systems and lowered its fiscal year revenue guidance. INDEXES: Near midday, the Dow was down 61.37, or 0.37%, to 16,581.64, the Nasdaq was down 16.59, or 0.34%, to 4,811.74, and the S&P 500 was down 8.73, or 0.44%, to 1,980.14.
09:24 EDTPSXOn The Fly: Pre-market Movers
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06:59 EDTPSXPhillips 66 flat into Buffett's Berkshire reports $4.5B stake
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05:25 EDTPSXBuffett's Berkshire reports $4.5B stake in Phillips 66
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August 28, 2015
16:00 EDTCVXOptions Update; August 28, 2015
iPath S&P 500 VIX Short-Term Futures up 2.06 to 26.77 Option volume leaders: AAPL FB BAC FCX NFLX RIG INTC TSLA CVX
15:12 EDTTOTTotal volatility elevated as WTI oil above $45
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13:35 EDTCVXChevron volatility elevated as WTI oil rally's 7% to $45
Chevron current 30-day call option implied volatility is at 33, compared to a one-month ago level of 22, suggesting large price movement as WTI crude oil trades above $45.
August 27, 2015
08:08 EDTDOWDow AgroSciences, ICS-CAAS partner to accelerate rice research in China
Dow AgroSciences, a wholly owned subsidiary of Dow Chemical, has entered into a collaboration agreement with the Institute of Crop Sciences of the Chinese Academy of Agricultural Sciences, or ICS-CAAS. Under the agreement, Dow AgroSciences grants ICS-CAAS a royalty-free, non-transferable research and commercialization license for its proprietary EXZACT Precision Genome Editing Technology to be used in rice in China. Dow AgroSciences and ICS-CAAS scientists will collaboratively develop an industry-leading rice genome editing technology platform. The EXZACT Precision Genome Editing Platform will enable ICS-CAAS scientists to capitalize on their significant investment and technical expertise in rice genomics, transcriptomics, proteomics, and cell biology as well as accelerate integration of the scientific knowledge generated in rice to rapidly develop valuable products for China. Dow AgroSciences has developed the EXZACT Precision Technology platform under an exclusive license and collaboration agreement in plants with Sangamo BioSciences, Inc. Dow AgroSciences and ICS-CAAS scientists will work together to make sure that the expertise and strengths of both parties are best combined to accelerate rice research and product development in China. This is part of Dow AgroSciences' commitment to providing innovative and sustainable solutions to bolster food security and food safety in China.
05:32 EDTTOTTotal sells North Sea midstream assets for $905M
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August 26, 2015
11:01 EDTAAgilent partners with Weill Cornell Medical College for ALS research
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August 25, 2015
07:08 EDTBASFYBASF added to Best of Bernstein list at Bernstein
Bernstein believes that the decline of BASF's stock has created a buying opportunity, as the firm thinks that the company's fundamentals remain strong. Bernstein predicts that the company will generate 6% EBIT growth this year, beating the consensus outlook and its guidance. It keeps an Outperform rating on the shares.
August 24, 2015
09:45 EDTCVXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
07:07 EDTCVXChevron upgraded to Neutral from Underperform at BofA/Merrill
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August 23, 2015
17:49 EDTTOT, CVXIran to increase oil production as BP, Shell express interest, Bloomberg says
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August 21, 2015
12:23 EDTCVXJim Chaos says he doesn't like Chevron, Royal Dutch Shell
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August 20, 2015
06:10 EDTCVX, TOTAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. 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
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