WCS/WTI spreads are much higher than last quarter. the analyst estimates for Q4 are too low, and will rising during the 6 week runnup to earning announcements.
The WCS/WTI spread had moved a ton since the 3rd Qtr. The discounts on crude into Superior and Montana will be enough to restore full coverage this quarter.
us steel, dresser rand, honeywell, ge
Worley Parsons was hit badly overnight after admitting mining projects will drop revenue and backlog.
This is a larger version of the FLR problem of declining mining project emphasis before other divisions are ready to burn those elusive elephant projects that are always a quarter or two away.
kinda like the classic bar sign, " Free Beer Tomorrow"