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April 28, 2014
08:03 EDTRWEOY, COP, BP, CVX, NDAQ, XOM, TOT, RDS.AEnergy firms join Nasdaq in arguing against EU collateral requirements, WSJ says
Organizations representing Europe's biggest electricity and gas producers, including Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), RWE AG (RWEOY) and others, have joined Nasdaq (NDAQ) in arguing to the European Commission that tougher proposed requirements on the type of collateral that must be posted to trade energy derivatives will be prohibitively expensive, reported The Wall Street Journal. Other publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), and Total (TOT). Reference Link
News For A;NDAQ;COP;TOT;CVX;RWEOY From The Last 14 Days
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September 25, 2015
09:10 EDTCVXChevron upgraded to Peer Perform from Underperform at Wolfe Research
September 24, 2015
17:04 EDTAMerck, Pfizer to collaborate with Agilent's Dako on Avelumab diagnostic
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13:29 EDTTOTTotal's Russian Arctic gas project receives Chinese investment, WSJ reports
The chances of Total's (TOT) Arctic natural gas project in Russia coming to fruition has been strengthened by a state-backed Chinese investment, the Wall Street Journal reports, citing comments from Total CEO Patrick Pouyanne. Yamal, a $27B project on a Russian peninsula, will be the main test to see if Russian energy projects are possible after its lead partner OAO Novatek (NOVKY) was hit with U.S. sanctions, the report says. Reference Link
September 23, 2015
18:19 EDTTOTTotal CEO downplays allegations of market manipulation, WSJ says
In a Wall Street Journal interview following market manipulation claims by the Federal Energy Regulatory Commission, Total CEO Patrick Pouyanne disclosed that the company is also being investigated by the Commodity Futures Trading Commission, though Pouyanne downplayed the matter. "There was no wrongdoing," said the Chief Executive, adding that the CFTC claims are being settled "for a few million dollars." Reference Link
10:44 EDTNDAQChinese Internet stock pullback a buying opportunity, CLSA says
Shares of multiple Chinese Internet companies are down again in morning trading amid more weak economic data from the Asian nation. However, research firm CLSA released a note making favorable comments and evaluations of several of the country's largest Internet players amid the economic slowdown. LITTLE IMPACT FROM SLOWDOWN: After 25 Chinese Internet and telecom companies attended CLSA's Investors' Forum, analyst Elinor Leung stated that Internet companies in China reported that they have been little affected by growing weakness in the nation's economy. Leung said that such companies have attributed their successful performance to a high savings rate, which increases consumer spending power, as well as gains in offline market share. Additionally, companies already listed may benefit from a weak A-share market in China, since smaller companies do not have access to financing and the slow market speeds up consolidation, Leung noted. RATINGS CHANGES: CLSA upgraded online travel service provider Ctrip (CTRP) to Buy from Outperform and maintained an $85 price target on its shares, while also raising its rating on Baidu (BIDU) two notches, to Buy from Underperform. Leung, who lowered Baidu's price target to $180 from $225, said the firm's top sector picks in the country are (JD), Alibaba (BABA), Tencent (TCEHY), and Ctrip. The analyst added that Tencent and Ctrip shares are the "most defensive" stocks, while JD and Alibaba could rebound even more after sentiment improves. WHAT'S NOTABLE: Last Thursday, TechInAsia reported that Baidu chief executive officer Robin Li said that the company was weighing the idea of delisting from the Nasdaq (NDAQ) and re-listing on the A-shares market in China. TechInAsia later added that a spokesperson from the Chinese internet giant "downplayed" the potential move, saying that Li's comments referred to an "unlikely hypothetical situation" in which U.S. investors don't recognize the importance of the online-to-offline market. PRICE ACTION: In morning trading, Baidu shares fell 1.4% to $134.21, Ctrip shares were flat near $66.64, shares slid 2% to $25.04 and Alibaba shares declined 2% to $60.69.
06:06 EDTTOTTotal to cut 2015 CapEx to $23B-$24B, 2016 CapEx to $20B-$21B
Total plans to return to a "sustainable level" in CapEx of $17B-$19B from 2017 onwards. The company is further increasing its OpEx reduction target by $50% to $3B from $2B by 2017. Total achieved a production increase of 11% YoY during 1H15. Production is planned to grow by an average of 6%-7% per year between 2014 and 2017, and by an average of 5% per year between 2014 and 2019. The company confirms that organic free cash flow will cover the dividend by 2017. The company also plans to invest CapEx of around $500M per year to build profitable businesses in new energies. Comments taken from Total Strategy & Outlook Presentation.
05:31 EDTCVX, TOTExxon Mobil initiated with an Underperform at Macquarie (yesterday)
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September 22, 2015
18:38 EDTTOTU.S. regulators accuse Total of manipulating natural gas markets, WSJ says
The Federal Energy Regulatory Commission has accused Total's U.S. subsidiary of making money-losing gas purchases in order to manipulate prices on its other trading positions, reports the Wall Street Journal. The alleged scheme was conducted from 2009 to 2012, said the report. Total issued a response to the publication, saying it is fully cooperating with FERC and denying any wrongdoing. Reference Link
15:50 EDTCOPConocoPhillips nears deal to sell certain Canadian assets, Bloomberg says
ConocoPhillips (COP) is closing in on a deal to sell several Western Canadian assets to different acquirers including Canadian Natural Resources (CNQ), says Bloomberg, citing sources. A deal for the assets may be reached as early as this week, added Bloomberg. Reference Link
14:19 EDTCOPConocoPhillips nearing sale of some Canada assets, Bloomberg reports
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13:14 EDTTOTTotal initiated with an Outperform at Macquarie
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13:13 EDTCVXChevron initiated with an Underperform at Macquarie
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10:00 EDTTOTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Midstream (AM) upgraded to Outperform from Neutral at Credit Suisse... China Southern Airlines (ZNH) upgraded to Neutral from Underperform at Macquarie... DuPont (DD) upgraded to Buy from Neutral at Citi... Entergy (ETR) upgraded to Overweight from Equal Weight at Barclays... HSBC (HSBC) upgraded to Conviction Buy from Buy at Goldman... KLA-Tencor (KLAC) upgraded to Buy from Neutral at Nomura... Total (TOT) upgraded to Buy from Hold at Societe Generale.
07:30 EDTNDAQNASDAQ management to meet with Deutsche Bank
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06:18 EDTTOTTotal upgraded to Buy from Hold at Societe Generale
September 21, 2015
09:39 EDTTOTTotal downgraded to Accumulate from Buy at Tudor Pickering
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09:39 EDTCVXChevron upgraded to Accumulate from Hold at Tudor Pickering
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09:09 EDTTOTSuncor to acquire additional interest in Fort Hills oil sands project
Suncor Energy (SU) announced that it has agreed to purchase an additional 10% working interest in the Fort Hills oil sands project from Total (TOT) E&P Canada Ltd., for total aggregate consideration of $310M at the time of announcement. As a result of this transaction, Suncor's incremental capital increase to Fort Hills is estimated at just over $1B of which approximately $700M is remaining project spend. Upon closing, Suncor's partnership share in the $15B project will increase to 50.8%. As part of the transaction, Suncor acquires a further proportionate interest in Fort Hills related logistics, including pipelines, storage terminals and third-party pipeline capacity agreements. The Fort Hills project is located in Alberta's Athabasca region, 90 kilometres north of Fort McMurray. The transaction is subject to closing conditions, including regulatory approval under the Competition Act. Teck has agreed to waive its right of first refusal to purchase a pro-rata share of the offering. The transaction is anticipated to close by the end of the year.
09:03 EDTNDAQAuthentidate announces receipt of favorable NASDAQ listing determination
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07:52 EDTRWEOYBerenberg and Goldman Sachs to hold a conference
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