Oil and gas producer EOG Resources (EOG) was surging Tuesday as quarterly earnings came in much better than expected, lifting the stock to its best level since the days of soaring energy prices in 2008.
Shares of Houston-based EOG were up $10.64, or 8.4%, at $136.68, a not insignificant percentage change for a company with a $37 billion market capitalization. Volume was 50% higher than a normal day two hours into trading. It was the fourth-best stock on the NYSE so far.
EOG said following the previous close that first-quarter earnings rose to $494.7 million, or $1.82 a share, from $324 million, or $1.20 a share, in the prior-year period. Excluding items, EOG had a profit of $1.80 a share, well surpassing the $1.17 consensus estimate carried on FactSet. Revenue rose to $3.36 billion from $2.81 billion and topped the average projection of $3.10 billion.
Total crude oil production rose 33% from last year to 187.3 million barrels a day, helped by a strong quarter in the Eagle Ford Shale
The Little Debbie Snacks logo for McKee Foods has received a new look, but the changes are so subtle the company is asking its Facebook (FB) fans to find the differences.
The dessert-snack company announced the new look on May 2 and asked its 1.6 million fans to note the changes in the comments. So far, over 2,200 people have commented, and most have guessed right. Can you see the differences below?
The changes include:
"We opted to make subtle changes because we wanted to keep the same wholesome look that was based on an original portrait of my cousin, Debbie McKee-Fowler," said Chris McKee, executive vice president of marketing and sales for McKee Foods, in the press release.
The logo change is
Read More »from Little Debbie Logo Changes So Subtle You’d Hardly Know the DifferenceBy Mark Dow
This is the question I always fantasize an insightful CNBC interviewer will ask of his/her guest after the guest offhandedly mumbles something about "the yen carry trade."
Odds are, though, it’ll never happen.
What is a carry trade and why is it so pervasively misunderstood?
First, a quick bit of history. (Quick. I promise.)
Back in the mid-90s it became increasingly clear that the BOJ was going to become much more aggressive in the battle against Japan’s deepening deflationary pressures. This unleashed monetary experimentation that eventually brought us concepts like ZIRP (Zero Interest Rate Policy) and QE. Fun stuff.
This produced the following investment backdrop: Japanese rates quickly going to zero, US rates north of 5 percent, and influential economists (including He Whose Name Cannot Be Uttered) exhorting Japan to induce yen depreciation to reverse inflationary expectations. With this scenario, what was a hedge fund to do? Short the yen against the US dollar. In
Read More »from You Don’t Really Understand the Carry Trade, Do You?Stock futures were fallingamid investor concerns the U.S. Federal Reserve may begin to taper its stimulus measures …
| Symbol | Price | Change | % Chg |
|---|