An intensifying Middle East conflict is threatening to throw the world's energy market into disarray after weekend drone attacks destroyed parts of Saudi Aramco's Abqaiq plant — one of the world's largest processors of oil— and a separate nearby oil field. On Saturday, the drone attacks, directed at Saudi Arabian oil facilities that account for nearly 10 million barrels of crude-oil production, resulted in massive plumes of black smoke emanating from the oil field, and a shutdown that could lead to about 50% of its production being at least temporarily thrown off line. Prominent crude-oil strategist Phil Flynn at Price Futures Group told MarketWatch on Sunday that the drone strike was a “big deal” that could result in a major spike in crude-oil prices, because of the potential disruption to global supplies.
The combined entity will potentially become the Gulf's sixth-biggest lender with $100 billion in assets and the deal value was based on the lenders' closing price on Thursday. Kuwait Finance House shares have gained 27% this year to 707 fils, while AUB shares are up 51% to 94.1 U.S. cents. The swap ratio is fair and the merger “will create substantial cost synergies in Bahrain and Kuwait,” Jaap Meijer, the Dubai-based head of research at Arqaam Capital Ltd., said by email.
Here are three stocks with a very bearish outlook from Goldman Sachs right now. According to the firm, these 3 stocks all deserve the most worrying 'underperform' rating based on their outlook for the coming months. Here we take a closer look at why Goldman Sachs is advising against these three stocks, and whether or not the rest of the Street agrees.
The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said. Attacks on two plants at the heart of the kingdom's oil industry on Saturday knocked out more than half of Saudi crude output, or 5% of global supply. Crude prices would spike by at least $15-20 per barrel in a seven-day disruption scenario and go well into triple digits in a 30-day scenario.
The world just lost 5% of its daily oil output, as Saudi Arabi cut production by half in the wake of a drone attack on Saudi Aramco oil fields. The company's specific operating areas are in the Delaware Basin, the Permian's second largest subdivision, and CXO controls over 1.1 billion barrels of proven hydrocarbon reserves.
After getting engaged I found out about her debt, bad FICO score excess parking tickets, etc. I educated and worked with her, and she eventually climbed out of it. Life is good, except she has new debt.
Saudi Aramco lost about 5.7 million barrels per day of output after several unmanned aerial vehicles on Saturday struck the world's biggest crude-processing facility in Abqaiq and the kingdom's second-biggest oil field in Khurais. Oil sank 2.1% in London to $60.22 a barrel last week and 3% in New York to $54.85, amid concerns that slowing demand growth may augur another supply glut. “There is almost no geopolitical risk priced into oil markets that are focused solely on the macro and trade narratives,“ Joseph McMonigle, senior energy analyst at Hedgeye Risk Management LLC, said in a note.
Jeffrey Gundlach on Thursday struck a pessimistic tone, saying there was a 75% chance of a recession before the next presidential election as he warned that the corporate bond market is a crisis waiting to happen. Gundlach, the outspoken chief executive of DoubleLine, mockingly delivered a presentation called the “Greatest Economy Ever,” an allusion to President Donald Trump's characterization, which the famed bond investor doesn't share. Gundlach, to a London audience, outlined a number of worrying signs, including declines in purchasing indexes, which peaked at right about the same time the U.S. and global stock markets (SPX)did.
L Brands Inc.'s plan to turn around the Victoria's Secret lingerie brand includes offering fewer discounts, which could be a big problem for customers, analysts say. L Brands (LB) , whose portfolio also includes the Bath & Body Works chain and the Pink brand that targets young consumers, hosted its investor day event on Tuesday. Executives spent time explaining their strategy for the ailing Victoria's Secret label, which has seen sales stall and backlash ensue as tastes veer away from the over-the-top sexy, male-gaze perspective that has been central to the brand for much of its existence.
Wall Street is warming up to a few marijuana firms that—because pot is banned under federal law—can't even list on the New York Stock Exchange or Nasdaq. A team of analysts at Cowen thinks that may soon change. “With the U.S. operators penalized from a tax perspective, handcuffed in terms of true scientific research and restricted in terms of geographic optionality outside of the U.S., the operating paradigm is quite nuanced, relative to Canadian cannabis,” they wrote.
JCP) stock has been racked with volatility in recent years, but a director at the embattled department-store chain has become the latest insider to buy shares on the open market. The stock (ticker: JCP) has rebounded since hitting a record intraday low of 53 cents on Aug. 13, and has nearly doubled since to end Friday at 97 cents. It now sports a 6.7% year-to-date loss, after 2018's 67.1% plunge.
Millennial home buyers are going to some troubling lengths to foot the bill for their first homes, according to a new survey. Millennials are more likely than their older counterparts to fund their down payment and closing costs by dipping into retirement savings (13%, versus 8% of Generation Xers and 7% of baby boomers), saving money by moving in with family or friends (14%, versus 5% of Gen Xers and 2% of boomers) or selling personal items (12%, versus 5% of Gen Xers and 2% of boomers), a recent Bankrate survey of 2,582 U.S. adults found. They're trying to exhaust all their options, and they're certainly doing that at higher levels than the other generations.
The telecoms group, which orchestrated a controversial and ill-advised merger with Time Warner last year, is an underperforming, mismanaged dodo bird of a company — big enough to have racked up $190bn in debt yet not large enough to fend off the Big Tech apex predators ready to eat its lunch. in AT&T, says the company “not only failed to keep pace with the broader market, but has actually underperformed by over 150 percentage points” over the past decade.
Growth has beaten value in the stock market for many years. But if you are feeling uncertain about the market — the trade standoff, Brexit, the health of the European Union, the threat of a recession and years of unprecedented stimulus by central banks — it may be time for you to diversify or consider a value-oriented strategy. Diversification is not difficult.
We had to make some tough decisions on those retrans providers, when some of the requests for increases were just not economically sound," Stephens said. "And we decided that we would not accept them and then we had to hold our ground. He added that the networks returned after “rates got to a reasonable level.
The assault, claimed by rebels in Yemen but blamed on Iran by the U.S., shows the very heart of the Saudi economy is vulnerable to escalating tensions in the region. Aramco can restart a significant volume of the halted oil production within days, but needs weeks to restore full output capacity, said people familiar with the matter. The company could consider declaring itself unable to fulfill contracts on some international shipments -- know as force majeure -- if the resumption of full capacity at Abqaiq takes weeks, they said.
President Trump's suggestion to cut interest rates to zero or below could have some unpleasant effects for people who are close to, or in, retirement. Negative interest rates have a harrowing impact on cash. Banks already offer a relatively low interest rate to consumers in exchange for stashing their money in a savings account, and the interest they incur on their savings would only go lower if rates were cut.
FIRE refers to the “financial independence, retire early” movement bubbling up in the younger generation these days as a pathway out of the grind — slash expenses, save a bundle and enjoy the freedom that approach ultimately allows. Using the name FluffayPenguin, one anonymous thirtysomething took to Reddit to illustrate his FIRE blueprint, which allowed him to graduate college in 2008 and build a small chunk of change all the way up to $930,000 in savings. Well, for starters, he lived at home half of that time, a choice many millennials are making as housing costs skyrocket.
Despite concerns that problematic inventory levels as well as flaring trade tensions would weigh down the semiconductor industry, the sector has still been able to grow with the VanEck Semiconductor ETF up 40% year-to-date. Adding to the good news for investors, one of the best-performing analysts believes that several catalysts could drive even more gains for semiconductor stocks. Despite the near-term macroeconomic volatility, we believe there will be a number of catalysts in 2020 that will have a positive impact the semiconductor industry,” Needham's Rajvindra Gill wrote in a note to clients on September 11.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bullish calls included the iPhone maker, a Big 3 automaker and a restructured industrial company. Bearish calls in the past week included a tobacco, a software and construction equipment leaders.
Hey Federal Reserve Board: Pay attention! Everyone fears the “inverted yield curve” – where short-term interest rates exceed long-term rates. Many stupidly say cutting short-term rates reduces long rates, stimulating corporate and homebuyer borrowing.
This time, Shopify stock, Chipotle stock, Starbucks stock, Paycom stock, McDonald's stock, Universal Display stock and Alteryx stock are breaking below key support with the major averages looking robust. It's a clear case of sector rotation out of software, restaurant and other high-valuation stocks and into lower P-E stocks such as financials. The 50-day/10-week line is often an area of support, where mutual funds and other big institutions buy up more shares.
We've opened up TipRanks' Trending Stocks tool to find three stocks that are underperforming right now, but are also showing high upside potential in the face of idiosyncratic headwinds. These are investment opportunities that have attracted attention from top analysts, and have the seeds for future market gains. Domino's Pizza, Inc.
This, however, can lead to major complications when the financially dominant partner dies first. Financial advisors say there are several steps couples can take while both are alive and healthy to help reduce the chance of financial deadlock or worse, such as depleting the assets the couple saved. This preparation requires involving the non-financially dominant partner as much as possible—well ahead of when it becomes a necessity.
Most discussion about the stock market is focused on market timing and finding good stocks to buy. A recent academic study entitled "Selling Fast and Buying Slow: Heuristics and Trading Performance of Institutional Investors", written by researchers from the University of Chicago, Carnegie Mellon and MIT compared buying decisions with the selling decisions of institutional investors. The authors concluded that, on average, fund managers would produce better returns if they simply sold stocks in their portfolio at random.