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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:09 EDTXOM, TOT, STO, BPExxon Mobil oil production to increase from on-time startup of CLOV project
Exxon Mobil Corporation (XOM) announced the CLOV project in Angola started up on schedule and is expected to reach daily production capacity of 160,000 barrels in the coming months. CLOV is the fourth major development hub of Total-operated Block 17, after Girassol, Dalia and Pazflor. An ExxonMobil affiliate has a 20 percent working interest in CLOV, which will produce oil from the four fields of Cravo, Lirio, Orquidea and Violeta at water depths ranging from 3,600 feet to 4,593 feet. CLOV, located 87 miles offshore Luanda, includes 34 wells and eight manifolds connected by 112 miles of subsea pipelines to a floating production storage and offloading vessel and crude oil offloading terminal. The 1,000-foot-long, 197-foot-wide vessel can store up to 1.8 million barrels of oil. Natural gas produced at CLOV will be exported through a subsea pipeline to an Angola liquefied natural gas plant in Soyo. Sonangol is the concessionaire for Block 17. Total (TOT) has 40% interest, Statoil (STO) has 23.33%, and BP (BP) has 16.67%.
News For XOM;TOT;STO;BP From The Last 14 Days
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July 22, 2014
06:29 EDTBPEU weighing new sanctions on Russia, NY Times says
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July 21, 2014
13:36 EDTXOMExxon Mobil files export application for Alaska LNG project
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08:16 EDTBPFMC Technologies signs agreement to develop susbsea equipment and systems
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July 18, 2014
06:33 EDTBPChinese helping Russia blunt sanctions' impact, NY Times says
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July 17, 2014
07:31 EDTXOMWEX signs definitive purchase agreement regarding Exxon's Esso Card program
WEX Inc. (WEX) announced the execution of the definitive purchase and sale agreement relating to the previously announced proposed acquisition of ExxonMobil’s (XOM) European commercial fuel card, or Esso Card, program through a majority owned joint venture, WEX Europe Services Limited. In addition, all necessary regulatory approvals have been received and the employee information and consultation processes have been cleared. The transaction is on track and is expected to close in late 2014 or early 2015. “The purchase of the Esso Card portfolio remains an important element to building our on-the-ground presence in the European market, and enhances WEX’s long-term growth profile. Our efforts to advance this transaction remain on track and position us to create a substantial and profitable European footprint,” said Melissa Smith, WEX’s president and CEO.
July 16, 2014
13:18 EDTBPBP aims to invest $10B in Egypt gas project, Daily News Egypt says
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06:27 EDTBPBP retirement-plan case reintroduced by U.S. court, Reuters says
The 5th U.S. Circuit Court of Appeals in New Orleans brought back a case in which participants in four BP worker retirement savings plans alleged they were tricked into purchasing and holding BP stock before and after the 2010 Deepwater Horizon disaster, according to Reuters, citing comments from BP spokesman Geoff Morrell. Reference Link
July 15, 2014
07:46 EDTBPJacobs receives project services contract from BP
Jacobs (JEC) announced that it was awarded a contract with BP (BP) to provide engineering, design and procurement services for the Coker Heater Replacement Project at its Cherry Point Refinery in Blaine, Washington. Company officials did not disclose the contract value.
July 14, 2014
11:45 EDTSTOStatoil downgraded to Equal Weight from Overweight at Morgan Stanley
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July 10, 2014
13:46 EDTXOMExxon feels singled-out in regards to fracking, WSJ says
Exxon Mobil is up against a criminal lawsuit over a wastewater spill in Pennsylvania and is saying that the state's attorney general has incorrectly singled it out in an effort to stop fracking, according to The Wall Street Journal, citing comments from Attorney General Kathleen Kane. Lawyers are saying that Exxon unit, XTO Energy, is criminally responsible for a large leak of water that had been used in hydraulic fracturing, or fracking, in north-central Pennsylvania four years ago. Reference Link
July 9, 2014
10:02 EDTTOT, BPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
09:13 EDTBPOn The Fly: Pre-market Movers
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09:10 EDTTOTTotal downgraded to Hold from Buy at Societe Generale
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05:27 EDTBPBP downgraded to Hold from Buy at Deutsche Bank
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July 8, 2014
07:23 EDTTOTTotal CEO says too early to predict Kurdistan future, Reuters says
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07:18 EDTTOTTotal CEO maintains costly drilling goals until 2014 end, Reuters says
Total CEO Christophe de Margerie is giving himself until the end of 2014 to strike oil at a large new field somewhere on the globe before contemplating whether to change his strategy and reduce the exploration budget, according to Reuters, citing comments from de Margerie. Reference Link
05:35 EDTXOM, STOTechnip awarded renewal of framework agreement by Statoil, Exxon Mobil, Gassco
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