Pipelines were supposed to be safe tollways that produced plenty of cash flows. Kinder Morgan stock has pretty much languished since that fateful day. Moves to right the ship at Kinder Morgan have begun to work and KMI has finally given long-suffering shareholders what they wanted all the time — a big return to dividend growth.
MOSCOW/LONDON (Reuters) - As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal they say has largely rebalanced the market and one that has helped elevate benchmark Brent prices close to four-year highs. Now, the relatively high prices brought about by that pact, coupled with surging U.S. output, are making it harder to sell Russian, Nigerian and other oil grades in Europe, traders said.
Bitcoin Cash is up 17% against the dollar on Monday. The cryptocurrency has risen 80% over the last seven days. An upcoming 'fork' of the currency — a change to its underlying code — appears to be supporting the price rally. Follow the live Bitcoin Cash
It was looking like a banner year for business in China. The U.S. clothing company was expecting a 20 percent jump in online sales on Alibaba's Tmall, thanks to the e-commerce giant's massive reach. The company refused to sign an exclusive contract with Alibaba, and instead participated in a big sale promotion with its archrival, JD.com Inc. Tmall punished them by taking steps to cut traffic to their storefront, two executives told The Associated Press.
The company delivered positive earnings surprise in three of the last four quarters and missed expectations once. The average positive earnings surprise in the last four quarters is 4.23%. In the last reported quarter, Bristol-Myers delivered a positive surprise of 1.49%.
ESL Investments, the hedge fund led by the CEO of Sears Holdings, Eddie Lampert, has made a proposal to buy some of the retailer's assets.
Just as lawyers for AT&T Inc. wrap up what most have considered to be a strong defense of the Time Warner Inc. megamerger, information has trickled out that may test the company’s credibility. AT&T, the No. 2 wireless carrier in the U.S., and its larger rival Verizon Communications Inc. are reportedly under investigation by U.S. antitrust officials over whether the companies colluded to make it harder for customers to switch carriers. The probe has to do with new electronic SIM, or eSIM, technology that allows consumers to make the switch by changing settings on their phone or tablet, rather than having to physically swap out a SIM card chip or go through their carrier. The Justice Department
Reagan's stock market gives clues for the Dow's next move: Acampora 2:27 PM ET Fri, 20 April 2018 | 01:53 Donald Trump, like Ronald Reagan before him, is an outside-the-beltway president. That recently prompted longtime market watcher Ralph Acampora to investigate whether the two had anything else in common. What he found could be a warning to the stock market. "Ronald Reagan had a six-month honeymoon," Acampora, director of technical research at Altaira Capital Partners, told CNBC's "Futures Now" last week. "The percentage gain was roughly about 10 percent." When Reagan was sworn into office on Jan. 20, 1981, the Dow Jones Industrial Average was trading at around 950. The index, which at
There is a good reason not to pay attention to General Electric earnings and analysts who cover the company. Because if you did, you would have lost your shirt. To be fair, a couple of analysts have been, belatedly, correct. Compare General Electric’s GE, +0.45% chart with that of the Dow Jones Industrial Average DJIA, +0.23% and the S&P 500 ETF SPY, +0.17% The drastic underperformance of General Electric’s stock will surely jump out at you. Let’s explore the chart. Chart Please click here for an annotated chart of General Electric. Please note the following: • General Electric is showing the first green candle on the chart in a long time. This is positive. • During the selloff, volume picked
Unlike many of the scandals that have triggered billion-dollar penalties for banks, the problems that led to a 10-figure federal government settlement for Wells Fargo & Co. don’t appear to have colorful emails or trader messages describing bad behavior. Wells Fargo’s WFC, +1.98% risk management already resulted in an unprecedented Federal Reserve sanction of having its growth limited. Wells Fargo, keep in mind, was fined by the CFPB and other regulators after opening millions of customer accounts without permission. To hear the OCC tell it, Wells Fargo did not establish “effective first and second lines of defense,” execute on a comprehensive plan to address compliance risk management deficiencies, fill mission-critical staffing positions, implement a reliable risk assessment and testing program and report compliance concerns adequately to the board.
A month has gone by since the last earnings report for Micron Technology, Inc. MU. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Micron reported outstanding quarterly results for the second quarter of fiscal 2018.
Legendary investor Warren Buffett, the founder of Berkshire Hathaway, is bullish on the potential of women in the U.S. to boost the economy. “I have two sisters that are absolutely smart as I am and better personalities,” Buffett told Yahoo Finance’s editor-in-chief Andy Serwer in a wide-ranging interview. According to Buffett, 87, that was the “unseen message” his sisters received growing up.
U.S. stocks switched between small gains and losses on Monday, as rising bond yields weighed on Wall Street sentiment. The closely watched yield on the 10-year Treasury note climbed, approaching a psychologically important 3% level. Investors grappled with a mixed bag of earnings reports on the day, including weaker-than-expected results from Halliburton Co. and Hasbro Inc. What are the main benchmarks doing? The Dow Jones Industrial Average DJIA, +0.10% most recently was up about 33 points, or 0.1%, at 24,497, with the blue-chip gauge flipping between small gains and losses in early action. The S&P 500 SPX, +0.32% was up 10 points, or 0.4%, at 2,680, with nine of its 11 main sectors trading
Goldman Sachs upgraded shares of Merck to buy from neutral and named it to its Americas Conviction List of favorite stocks on Monday because of potential booming sales from the drugmaker's blockbuster lung cancer treatment Keytruda. Merck shares rose 2.4 percent in premarket trading on the Goldman call. "We believe the narrative for this company is quickly changing with the success of Keytruda (a potential $16bn asset by 2025E) driving a significant shift in product mix from a large primary care evolving into a specialty biopharma," Jami Rubin wrote in a note to clients. Rubin's 12-month price target of $73 calls for a 24 percent increase for the shares from Friday's close. Earlier this month,
Are you kidding? Embattled Sears (SHLD) CEO Eddie Lampert said in a letter to Sears on Monday, through his ESL holding company, that he would like to buy the SHIP and Part Direct businesses for $500 million from the company. The bizarre nature of the letter isn't hard to detect: the largest shareholder of Sears essentially sends a letter to himself. The message: if Sears wants anymore money off ESL, it will have to fork over another valuable asset (in this case, two assets). Here's a key excerpt from the letter: "We continue to see value in Sears and its underlying assets and believe strongly that with an appropriate runway Sears will be able to complete its transformation to respond to the challenging
Oil fell on Monday, as other raw materials came under pressure and after Iran's oil minister said there would be no need to extend a deal on supply restraint if crude prices rose further. Industrial commodities sank after the United States hinted at sanctions relief for Russian aluminium producer Rusal if Oleg Deripaska cedes control of the firm, easing fears Washington might target palladium producer Nornickel. Aluminium and palladium, a key Russian export, fell more than 5 percent, while oil prices dropped by around $1 a barrel.
On the heels of a market friendly tax cut, record corporate earnings and a chorus of talking heads including yours truly predicting another year of rising stock prices, only one thing is missing. Stocks didn’t get the memo. Every bull market has its wall of worry and this year is no different.
Shares in the world's largest advertising firm, WPP, fell Monday after investors learned that one of its biggest clients is reviewing its marketing spend. Ford Motor Company said Saturday that it is to take bids from a number of other firms for some of its advertising that is presently managed by WPP. The decision comes hot on the heels of the departure of founder and chief executive, Sir Martin Sorrell, who left the firm last week after 33 years amid an allegation of personal misconduct. In a statement provided to CNBC by Ford Britain, the automaker said WPP would now have to compete to retain some of its existing business. "We are going to place some portions of our advertising business up
Kilburg: The global growth story is still intact 4 Mins Ago | 01:38 The yield on the benchmark 10-year Treasury note started the week on a tear, jumping to 2.99 percent and toying with the key 3 percent level that could trigger a reaction across global financial markets. The 10-year yield was at 2.979 percent at 7:05 a.m. ET, after topping 2.99 percent earlier Monday. The yield on the 30-year Treasury bond was higher at 3.167 percent. Yields move inversely to bond prices. Should the yield hit 3 percent, it would be the note's highest rate since January 2014. The benchmark for mortgage rates and other financial instruments has jumped in April on signs of increasing inflation and as the Federal
Saudi Arabia is rumored to want oil prices at $100 per barrel, but if prices rise that high, it could sow the seeds of the next downturn. Saudi officials want more revenues for their budget and a higher oil price to bolster the valuation of the Aramco IPO. As Liam Denning of Bloomberg Gadfly points out, in the past decade, while oil prices have surpassed $100 per barrel for periods of time, they didn’t stay there for very long.
Iran's central bank has banned other banks from dealing in crypto-currencies, over concerns the technology could be used illegally. It said Bitcoin could be "turned into a means for money-laundering and financing terrorism" and "a means for transferring criminals' money". Iran's currency, the rial, plunged to an all-time low in early April. Banks, credit institutions and currency exchanges all now have to avoid any sale or purchase of digital currencies. This is a blow for some in Iran who saw crypto-currencies as a way Iran could overcome problems relating to its banking industry and international sanctions. In February, Minister of Information and Communications Technology Mohammad-Javad Azari
Workplace discrimination in China often begins with help-wanted ads. Job recruitment websites routinely feature advertisements from prominent technology employers such as Alibaba Group Holding Ltd., Baidu Inc. and Tencent Holdings Ltd. for positions that are open only to men, according to a report released by Human Rights Watch on Monday. With the three big internet companies boasting they have “beautiful girls” or “goddesses,” those ads contribute to widespread gender discrimination in the workplace, Human Rights Watch said.
As earnings season is starting to pick up pace, here’s a look at some the top stock trades in the stock market. With shares of Apple Inc. (NASDAQ:AAPL) down more than 4% Friday, it’s no wonder tech is having a tough day. Many investors are trying to figure out what to make of Apple’s 7% slide over the past three trading sessions.
Follow Alphabet stock in real-time here. Google-parent company Alphabet is rising, up more than 0.3%, Monday ahead of its first-quarter earnings report which is due out after the closing bell. Regulation is sure to be at the top of investors' minds following Facebook's Cambridge Analytica privacy scandal and ahead of a European privacy law, known as GDPR, that's set to take effect in May.