May get a shock in the AM. AAPL could open above $520.00.
Libya's NOC interested in Marathon Oil stake • 8:12 AM
Libya's National Oil Corp. is interested in buying Marathon Oil's (MRO) stake in Waha Oil, one of the country's most important joint ventures, the oil minister says, amplifying remarks reported yesterday.
Waha has capacity of 350K bbl/day and produces Libya's main light sweet crude grade; Hess (HES) and ConocoPhillips (COP), along with the NOC, are MRO's other partners in Waha.
In Q1, production from Libya accounted for ~7% of MRO's total output.
AMD will be on my watch list once it's $3.83. With the XboxOne release this stock will be over $4 soon!!
Vale Mulls More Asset Sales as It Seeks to Boost Profit
By Juan Pablo Spinetto - Sep 24, 2013 2:41 PM PT
Vale SA (VALE) is considering more asset sales this year following $2.7 billion of divestment since early 2012 as it seeks to cut costs and boost profit.
The iron-ore producer based in Rio de Janeiro is studying whether to sell its stake in Oslo-based aluminum producer Norsk Hydro ASA (NHY), as well as oil and gas assets, Chief Executive Officer Murilo Ferreira said today. The company is also pondering the sale of its 40 percent stake in Brazilian bauxite producer Mineracao do Rio Norte SA, he said.
“We also have a surprise that I won’t mention so you remain curious,” Ferreira told reporters in Belo Horizonte, Brazil, after a speech at the Brazilian Mining Congress.
Vale is selling assets, putting projects on hold and focusing on its more profitable iron-ore business in a bid to recover profit margins after commodities prices fell. The company last week sold stakes in a cargo unit for about 2.7 billion reais ($1.2 billion) to Japan’s Mitsui & Co. and a Brazilian government fund after $1.47 billion of asset sales last year, including a coal mine in Colombia and 10 large vessels.
Vale lost 1.5 percent to 32.27 reais at the close in Sao Paulo today, the lowest level for its shares since Sept. 6.
The expansion of shale-gas production in the U.S. is creating an opportunity for Vale to sell pellets, a processed form of iron ore, to American steelmakers, Ferreira said in a presentation at the mining event. The company is in “intensive” discussions to supply pellets to U.S. steel mills and its Tubarao VIII project will benefit from rising demand in the country, he said.
Sentiment: Strong Buy
AMD was $3.99 this week............. will be $4.99 next week.
$24 in front of earnings. $26 not long after!!
Thanks - I had a moment of concern, thanks for the feed back. I do think NG is undervalued here, we should see .50-cent over the next few months.
I made some fast money on NG, but will wait to buy on another pull back. I have been burned too many times trying to hold. Good luck to those that held today. Under $2.15 and I in.
Will most likely go higher tomorrow, but I did not want to chance it. Will see if it dip down some tomorrow after the start up run.........................
Vale awaits Chinese decision on allowing supersize vessels
The pickup in China's economy could lift steelmaking demand and pave the way for Vale's (VALE +2.6%) supersize cargo ships to directly supply the market they were built to serve but that now bars them from docking there, WSJ reports.A decision by China to loosen restrictions on the Valemax ships would be a strategic boon for the world's largest producer of iron ore, and Vale believes China could import iron ore more cost effectively should authorities open the ports to the big ships.China's Transport Ministry has drafted a proposal that could free port authorities to accept vessels larger than current limits; analysts say the language is vague but could open the door to Valemaxes
Sentiment: Strong Buy
Vale +2% after J.P. Morgan comes away bullish
J. P. Morgan comes away bullish from its meeting with Vale’s (VALE +2%) top management, assigning a $25 price target, as it sees Vale's savings from cost-cutting are permanent and "present a great source of value generation."Vale so far has realized $1.6B in cost savings during H1, and while the company doesn't have an official savings target, it expects year-end 2013 to finish at more than double H1.Serra Sul S11D is Vale’s main project and J.P. Morgan thinks another $2B can be delivered from proper execution.Vale is more bullish than analysts on iron ore prices, expecting them to stay above $110/ton in the medium to long-term; J.P. Morgan thinks that’s too bullish but believes a long-term price below $100/ton is too conservative.
Sentiment: Strong Buy
Prestigious Accolades, Increased Dividends, Earnings Conferences, and Promising Collaborations - Research Report on Advanced Micro Devices
Last update: 9/24/2013 8:00:00 AM