Energy stocks are clipped by a 175-point opening drop by the Dow Jones Industrials Average and a steep $3 drop in oil prices following a report of bearish supply data.
We cite Exxon (XOM), Chevron (CVX) and ConocoPhillips (COP). In its weekly report, the Energy Information Administration (EIA) reported substantial crude oil inventory build. The agency reported that total crude oil stocks for the week ended January 2 increased by 6.7 million barrels from the preceding week, significantly above expectations. Current stocks are 15.1% above the comparable period last year. As such, current stock levels provide for 22.5 days of supply, significantly above the year-earlier level of 18.4 days. <img src="http://www.zacks.com/images/upload_dir/1231364187bmp" alt=""[More...]
Many investors wonder whether or not there are advantages to being long or short one commodity versus another or if all commodities will roughly trade in the same manner. Like many of the other questions I tackle here on the website, there is no exact answer (as is the case with many ...
Many investors wonder whether or not there are advantages to being long or short one commodity versus another or if all commodities will roughly trade in the same manner. Like many of the other questions I tackle here on the website, there is no exact answer (as is the case with many questions dealing with the financial markets) to these questions. Even though there is no precise mathematical science to answer this question, there are many identifiable factors involved that can shed light on what to many seems to be a difficult and never-ending puzzle.<span[More...]
I’m not getting too excited about this rally. Oil companies and banks are going to report fourth quarter results January 15th through the 30th. I’m going to guess that with all the dilution the banks have suffered due to capital raising and the drop in oil prices from 145 to 40, earnings ...
During the week of inactivity (a.k.a. vacation) I had time to reflect on the year that was 2008. If I had to describe 2008 in one word it would definitely be historic and shocking. OK that’s more than one word.
Historic
2008 will long be remembered as the year in which large institutions disappeared in the matter [...]
Companies featured in this segment: Georgia Power Company (NYSE:GPW), ConocoPhillips (NYSE:COP), Eli Lilly and Company (NYSE:LLY), Covance (NYSE:CVD), EESTech Incorporated (OTC:EESH), RxElite Holdings Incorporated (OTC:RXEI), Suncor Energy (NYSE:SU), NuStar Energy L.P. (NYSE:NS), Alliance Resource Partners LP (NASDAQ:ARLP)
Companies featured in this segment: Burlington Northern Santa Fe Corporation (NYSE:BNI), PG&E Corporation (NYSE:PCG), General Electric Company (NYSE:GE), The Boeing Company (NYSE:BA), SNC-Lavalin (TSX:SNC), The Dow Chemical Company (NYSE:DOW), Corning Incorporated (NYSE:GLW), BearingPoint Incorporated (NYSE:BE), General Electric Company (NYSE:GE), Hitachi Limited (NYSE:HIT), Areva (EPA:CEI), Siemens AG (NYSE:SI), ConocoPhillips (NYSE:COP)