U.S. Markets open in 49 mins

Occidental Petroleum to spin off California assets

Feb 14 (Reuters) - Oil and gas producer Occidental Petroleum Corp said it would spin off its California assets into a separately traded company, creating the state's largest natural gas producer.

Occidental said the new company, which would hold 2.3 million net acres, would have major operations in the state's high-potential oil and gas basins, including Los Angeles, San Joaquin, Ventura and Sacramento.

  • Sears faces tough foe: an unforgiving bankruptcy code
    Finance
    Reuters

    Sears faces tough foe: an unforgiving bankruptcy code

    The change stems from a 2005 legislative overhaul of the bankruptcy code that forced companies to find an agreement within seven months on its real-estate leases, or allow landlords to walk away from the agreement. The law intensifies the pressure on Sears and Chairman Eddie Lampert to restructure the company and turn it into a relevant, viable business. Sears did not respond to requests seeking comment.

  • Walmart is aggressively shifting away from its most legendary shopping format
    Finance
    Yahoo Finance

    Walmart is aggressively shifting away from its most legendary shopping format

    Walmart (WMT) continues to kill off the American shopping creation it’s most known for, the massive supercenter that sells everything under one roof. With the U.S. market already having more than 3,500 Walmart supercenters and a focus by CEO Doug McMillon to increase spending on eCommerce and India, Walmart said Tuesday it will open a mere 10 supercenters in 2019. The company has reduced emphasis on the store format pioneered by founder Sam Walton – which could average a gargantuan 178,000 square feet – in recent years.

  • Finance
    CNBC

    Morgan Stanley: The stock sell-off is going to get worse

    The stock market is in the middle of a rolling bear market, says Morgan Stanley's Mike Wilson. "It's being caused by a drain in liquidity and peaking growth," Wilson says. The stock market sell-off is only going to get worse, predicts Morgan Stanley's chief U.S. equity strategist, Mike Wilson.

  • Here's the Average Social Security Benefit for 2019
    Business
    Motley Fool

    Here's the Average Social Security Benefit for 2019

    Millions of seniors collect Social Security, and without it, they'd be underwater on their bills. At present, the average retiree gets $1,422 a month in Social Security benefits. There's a world of misinformation surrounding Social Security, and perhaps one of the most detrimental myths out there is the notion that the program is enough to sustain seniors by itself.

  • Brits Are All Making the Same Joke About the New Royal Baby
    News
    Time

    Brits Are All Making the Same Joke About the New Royal Baby

    Meghan Markle, the Duchess of Sussex, is expecting her first child with Prince Harry. The news, announced Monday morning by Kensington Palace, has already been greeted by hundreds of messages of congratulations for the royal couple on social media. The U.K. is set to leave the European Union on March 29, exactly two years after Prime Minister Theresa May started the formal process for doing so by invoking Article 50 of the Lisbon Treaty.

  • Why New Age Beverage Corp. Stock Popped Today
    Business
    Motley Fool

    Why New Age Beverage Corp. Stock Popped Today

    Shares of New Age Beverage Corp. (NASDAQ: NBEV) were climbing again today, riding a surge on marijuana stocks as growers like Tilray, Cronos Group, and Canopy Growth all jumped by double digits. Along with the bullish sentiment in the industry, a number of other factors seemed to be driving New Age shares higher, including the recent hiring of a new CFO, the upcoming legalization of recreational marijuana in Canada on Wednesday, and the market's reaction to its launch last week of a new line of beverages infused with cannabidiol (CBD). On Friday, New Age named Gregory Gould as its new CFO, a notable move as Gould brings experience from the pharmaceutical industry, which should help the beverage company as it moves into CBD products.

  • Gauging Analysts’ Views of Sarepta Stock in October
    Business
    Market Realist

    Gauging Analysts’ Views of Sarepta Stock in October

    An Investor's Overview of Sarepta Therapeutics (Continued from Prior Part) Analysts’ recommendations Of the 23 analysts covering Sarepta Therapeutics (SRPT) in October, eight analysts gave the stock a “strong buy” rating, 14 analysts gave it a “

  • 3 Top Large-Cap Stocks to Buy in October
    Business
    Motley Fool

    3 Top Large-Cap Stocks to Buy in October

    If you're looking for high-quality large-cap stocks to add to your portfolio this month, three of our Motley Fool contributors have some ideas. Here's why you should consider Berkshire Hathaway (NYSE: BRK.B), Cisco Systems (NASDAQ: CSCO), and AT&T (NYSE: T). Tyler Crowe (Berkshire Hathaway): Perhaps one of the most ridiculous investment takes out there right now is that Berkshire Hathaway's immense cash pile isn't a good thing.

  • Jamal Khashoggi was accidentally killed during interrogation: report
    World
    Fox Business Videos

    Jamal Khashoggi was accidentally killed during interrogation: report

    Fox Business foreign policy analyst Walid Phares on the report that Saudi journalist Jamal Khashoggi was accidentally killed.

  • These are the bad things about early retirement that no one talks about
    News
    MarketWatch

    These are the bad things about early retirement that no one talks about

    For all the glamour of living an early retirement lifestyle, there are plenty of negatives I’ve come to discover since I permanently left my job in 2012. As a result, you’re repeatedly forced to will yourself into action.

  • Why Marijuana Stocks Canopy Growth, Cronos Group, and Tilray Crushed It Today
    Business
    Motley Fool

    Why Marijuana Stocks Canopy Growth, Cronos Group, and Tilray Crushed It Today

    The three Canadian marijuana stocks that currently trade on major U.S. stock exchanges enjoyed big gains on Monday. Shares of Canopy Growth (NYSE: CGC) were up 14% as of 3:48 p.m. EDT, while Cronos Group (NASDAQ: CRON) and Tilray (NASDAQ: TLRY) jumped 18.9% and 12.1%, respectively. Two of the three marijuana growers reported new developments earlier in the day.

  • Saudi Arabia Breaks 45-Year Taboo With Veiled Threat to Use Oil as a Weapon
    World
    Bloomberg

    Saudi Arabia Breaks 45-Year Taboo With Veiled Threat to Use Oil as a Weapon

    While few think that Saudi Arabia is prepared to follow through, even the suggestion of using oil as a weapon undermines Riyadh’s long-standing effort to project itself as a force for economic stability. The anxieties were exacerbated by an opinion piece penned by Turki Al Dakhil, who heads the state-owned Arabiya news network and is close to the Royal Court, in which he openly talked about using oil as a weapon.

  • Why Occidental Petroleum, Nutrisystem, and Carvana Slumped Today
    Business
    Motley Fool

    Why Occidental Petroleum, Nutrisystem, and Carvana Slumped Today

    Monday saw a disappointing session on Wall Street, as most popular stock indexes lost ground to begin the week. Despite a nice bounce on Friday, investors still seem to be worried about the big declines that came in the middle of last week, and skittishness among market participants has heightened awareness of any imperfection among key companies. Occidental Petroleum (NYSE: OXY), Nutrisystem (NASDAQ: NTRI), and Carvana (NYSE: CVNA) were among the worst performers on the day.

  • Is This High-Flying Marijuana Stock the Next Tilray?
    Business
    Motley Fool

    Is This High-Flying Marijuana Stock the Next Tilray?

    Since then, Tilray's share price has skyrocketed to well over six times its opening-day level. At one point, Tilray was up a whopping 856% -- in just two months of trading. Now there's another marijuana stock that is beginning to turn heads.

  • As Cannabis D-Day Approaches, Winners and Losers Set to Emerge
    Business
    Bloomberg

    As Cannabis D-Day Approaches, Winners and Losers Set to Emerge

    After Canada legalizes recreational marijuana on Oct. 17, it will only take a quarter or two for clear winners and losers to emerge, according to investors and analysts who follow the sector. “These have all been concept stocks and they’re going to actually have to be real companies in another few months, which I think a lot of guys are terrified about,” said Greg Taylor, who manages the Purpose Marijuana Opportunities Fund. Taylor prefers CannTrust Holdings Inc., Hexo Corp. and Organigram Holdings Inc., which he says trade at a “more realistic valuation” than some of their bigger peers.

  • Goldman Sachs and Raymond James cut Netflix price target ahead of earnings
    Business
    Yahoo Finance Video

    Goldman Sachs and Raymond James cut Netflix price target ahead of earnings

    Netflix getting its price target slashed by both Goldman Sachs and Raymond James ahead of its highly expected earnings report tomorrow. Both firms are concerned that rising interest rates could pinch the company’s valuation.

  • Marijuana stocks to watch: Canopy Growth is the cannabis business’s $4 billion gorilla
    Business
    MarketWatch

    Marijuana stocks to watch: Canopy Growth is the cannabis business’s $4 billion gorilla

    The following article is part of a package of stories that MarketWatch is publishing to mark the start of full legalization of cannabis for adult use in Canada on Wednesday. Smith Falls, Ontario–based Canopy Growth Corp. made headlines and drove cannabis stocks to new heights over the summer when it announced that Corona brewer Constellation Brands Inc. was going to invest an additional $4 billion in the company. Billed by both companies as a strategic partnership, the additional $4 billion investment adds to the 9.9% stake that Constellation bought in October of last year and sets the company up to either be bought outright by Constellation — via warrants that could increase its stake to more than 50% — or continue to work with the beverage company to create a range of consumer-focused cannabis products that may one day appear in markets in dozens of countries.

  • Better Marijuana Stock: Aurora Cannabis vs. Auxly Cannabis Group
    Business
    Motley Fool

    Better Marijuana Stock: Aurora Cannabis vs. Auxly Cannabis Group

    One is market cap: Aurora's market cap is nearly 18 times bigger than Auxly's. Then there's stock performance. Here's how Aurora Cannabis and Auxly Cannabis Group stack up against each other in the areas that do matter.

  • Many U.S. mall owners say good riddance to Sears
    Finance
    Reuters

    Many U.S. mall owners say good riddance to Sears

    The real estate investment trusts that own the malls and shopping centers where many Sears stores are anchor tenants have waited years for the retailer's demise to renovate the sites and boost rent, although redevelopment costs may strain some plans. Most large U.S. malls are controlled by REITs. In recent years, the REITs have cut their exposure to Sears Holdings Corp, which filed for Chapter 11 bankruptcy on Monday.

  • Finance
    TheStreet.com

    Monday Madness: Is Nvidia a Hit or Miss?

    TheStreet's Julie Iannuzzi covered Jim Cramer's investing boot camp. Nvidia (NVDA - Get Report) has long been a favorite of TheStreet's founder and Action Alerts Plus Portfolio Manager Jim Cramer, but he told a packed audience Saturday at his Boot Camp for Investors in New York why his charitable trust recently sold out of the stock.

  • Warren Buffett predicted the fall of Eddie Lampert and Sears over 10 years ago (SHLD, BRK.A, BRK.B)
    Finance
    Business Insider

    Warren Buffett predicted the fall of Eddie Lampert and Sears over 10 years ago (SHLD, BRK.A, BRK.B)

    Sears filed for Chapter 11 bankruptcy early Monday, the culmination of a downward spiral. CEO Eddie Lampert, once called the "next Warren Buffett," will also step down. Incidentally, Buffett predicted the retailer's and Lampert's downfall in 2005.

  • Finance
    Bloomberg

    Tesla Skeptic Surprised by How Much He Enjoyed the Model 3

    In a broader note about positive electric-car momentum, Jonas said he observed workers at Tesla’s lone auto plant in Fremont, California, who were “extremely busy cranking out Model 3s” for delivery in the U.S. He also drove the dual-motor performance version of the vehicle, which he sees as having better value-for-performance than the Model S sedan. “Frankly, our enjoyment of the high-spec version of the Model 3 took us by surprise,” Jonas said, adding that it’s “hard to say how much this matters.

  • Sears bankruptcy could make these 5 big companies multi-million-dollar losers
    Finance
    Yahoo Finance

    Sears bankruptcy could make these 5 big companies multi-million-dollar losers

    Being an unsecured creditor of Sears (SHLD) right now is not a good place to be. The 125-year old former retail icon filed for chapter 11 bankruptcy protection early on Monday, crippled from years of losses and mounting debt. Sears plans to close about

  • Business
    TheStreet.com

    Canopy Growth Is Poised to Explode to the Upside

    Shares of Canopy have soared 68% over the past three months. In this daily bar chart of CGC, below, we can see that prices are up five-fold over the past 12 months. CGC was trading at $10 back last October and now is trading around $50 with spikes above $55 last month.

  • 3 Reasons 62-Year-Olds Should Take Social Security Now
    Business
    Motley Fool

    3 Reasons 62-Year-Olds Should Take Social Security Now

    As people approach retirement, it's natural to want to claim Social Security as soon as possible. Even though waiting beyond the earliest claiming age of 62 for retirement benefits can give you larger monthly checks, you still have to make it through