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.
The usually reliable Altria Group Inc (NYSE:MO) is off to a horrific start this year, with MO stock shedding 18%. For technical analysts, the recent break below $60 was highly discouraging. In short, MO stock must regain its footing quickly due to the significant technical damage.
AT&T Inc. attacked the U.S. government expert who disputes the company’s claim that its takeover of Time Warner Inc. would lead to $2.5 billion in cost savings. Rob Walters, a lawyer for AT&T, tried Monday to undermine the Justice Department’s expert, Ronald Quintero, saying he ignored AT&T’s history of successfully integrating companies and achieving projected savings. Walters also said that in a separate case in which he testified as an expert, Quintero’s testimony was "utterly discredited" by a judge.
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
United Parcel Service, Inc. UPS is scheduled to report first-quarter 2018 results on Apr 26, before the market opens. Revenues improved 11.2% to $18,829 million from the year-ago quarter, outpacing the Zacks Consensus Estimate of $18,190.5 million.
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.
According to some market pundits, issues like Apple Inc.’s (NASDAQ:AAPL) woes, China trade war concerns and today’s much more volatile and erratic cryptocurrency market can all be fingered as reasons why investors should stay away from Nvidia stock. If you’re a buyer of those markets, Nvidia — whose chips are leaders in all those areas — should sound attractive. This appears to be the case for Nvidia stock right now–and that’s good news for bulls.
Shares of Texas Instruments TXN dipped into the red during early afternoon trading Monday, just one day before the chip behemoth is scheduled to release its latest quarterly earnings report. With concerns emerging that the dominant run for semiconductor stocks could be over soon, investors will want to key a close eye on the recent results of an industry bellwether like TXN. Increased demand for its chips—thanks to a variety of new applications throughout the tech landscape—has helped Texas Instruments surge considerably over the past few years.
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.
TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said Kimberly Clark's quarterly earnings were better than Procter & Gamble's but that he doesn't like the consumer products space.
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.
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
Chipmaker QUALCOMM, Inc. (NASDAQ:QCOM) has been on a wild ride over the past several months. The shares were in a down-trend for most of 2017 until Broadcom Inc (NASDAQ:AVGO) acquisition rumors emerged in October, sending QCOM stock from $50 to $70 in a hurry. Qualcomm stock dropped.
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.
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%.
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.
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
By Jessica Resnick-Ault NEW YORK (Reuters) - Oil prices rebounded from an early slide to finish higher and strengthen further in post-settlement trade, as investors feared U.S. sanctions could dampen Iran's output. "It's tweet
The number of homeowners who will benefit from the mortgage tax break is expected to plummet this year by more than half, according to a congressional report released on Monday. About 13.8 million taxpayers will be able to claim the mortgage-interest deduction in 2018, down from more 32.3 million in 2017, estimates from the Joint Committee on Taxation show. That's about a 57 percent drop. Tax returns using mortgage interest deduction Already, the deduction was not used by most taxpayers. Of the 150 million or so tax returns the IRS has received annually in recent years, just 20 percent claimed the deduction, according to research from the Urban Brookings Tax Policy Center. The anticipated drop
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.
Iran's financial businesses should not deal in bitcoin or other cryptocurrencies, according to the country's central bank and one of its principal market regulators. Fearing the possible illicit use of cryptocurrencies in money laundering and terrorist financing, the Central Bank of Iran (CBI) sent out a circular on Sunday to prohibit the use of the technology within financial institutions, the country's national news agency reports.Â The announcement, made public yesterday, wasÂ passed by Iran's anti-money laundering body in December, 2017.
Sears' biggest shareholder has suggested the company sell its well-known Kenmore brand and some real estate holdings, offering itself as a potential buyer. The ailing company has sold off other major brands as it struggles to stay afloat, with Kenmore a notable remainder of the powerhouse retailer that survived two world wars and the Great Depression. The private equity firm ESL Investment, headed by Sears chairman and CEO Edward Lampert, said it might buy the assets — Kenmore, Sears Home Services' home improvement business and the company's Parts Direct business — if the company is willing to sell.
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,
Investors are always looking for stocks that are poised to beat at earnings season and Advanced Micro Devices, Inc. AMD may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That