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ConocoPhillips Posts Higher Q4 Loss, Miss Revenue
Houston, TX-based ConocoPhillips (COP – Analyst Report) is a major global exploration and production (E&P) company with operations and activities in 25 countries that include the U.S., Canada, UK/Norway, China, Australia, offshore Timor-Leste, Indonesia, Libya, Nigeria, Algeria, Russia and Qatar. Currently, ConocoPhillips has a Zacks Rank #3 (Hold) but that could change following its fourth-quarter 2015 report which has just released. We have highlighted some of the key details from the just-released quarterly announcement below: Earnings: Loss per share excluding special items came in at 90 cents, missing the Zacks Consensus E... -
Finance 0
Silver Prices On A Tear, Should Be Trading At $15.30
Silver Prices On A Tear, Should Be Trading at $15.30 Silver price are close to reaching our target of $14.90 as traders re-evaluate the prospect of more Fed rate hikes. I expect silver to reach $15.30 based on its correlation to gold and as long as gold prices trade at or above $1447. From a technical and trading perspective I would expect to see a rise in the trend-defining level to the $14.14 low, and I imagine traders will use a pullback to the $14.50-30 range as an opportunity to add to their bullish exposure. On a break to the $14.14 level, the short-term trend will turn bearish and price may reach $14. The Trigger The latest trigger... -
Finance 0
ExxonMobil Fighting To Stay On Top
When oil prices began plummeting around a year and a half ago, the U.S. energy sector struggled. Big energy companies like Noble Energy (-33.5% over the last year) and British Petroleum (-28.32%) have been hit hard, bleeding profits from every orifice. Surprisingly, ExxonMobil (XOM), the largest of them all, has been more nimble and proactive in responding to the suffocating external pressures. The company’s latest earnings report shows that while it’s feeling the effects of the current situation in the oil market, it’s still able to beat Wall Street’s expectations. The highlights: Earnings per share came in at $0.67, beating analy... -
Finance 0
ConocoPhillips Slashes Dividend, Warns Of “Lower Prices For Longer”; Weatherford Fires 15% Of All Workers
Another day, and another round of increasingly uglier news from the global energy sector. Moments ago, energy giant ConocoPhillips (COP) announced it would cut the company’s quarterly dividend to 25 cents per share, compared with the previous quarterly dividend of 74 cents per share. This took place after reporting its biggest quarterly loss in almost a decade as independent oil producers feel the squeeze from the sharp decline in crude prices. The company also lowered capital expenditures guidance to $6.4 billion from $7.7 billion and operating costs guidance to $7 billion from $7.7 billion. The commentary from CEO Ryan Lance was dire: ... -
Finance 0
Pound Down After BoE Minutes
The dollar continues to weaken on Thursday. The euro/dollar reached 1.1183 and the pound/dollar hit 1.4665. Pressure on the dollar is up after Dudley’s announcement yesterday and the disappointing PMIs from Markit and ISM. The European Commission dropped its GDP and inflation forecasts for the Eurozone and still the euro strengthened against the dollar. The euro bulls received support from the growth in the euro/pound cross rate. The euro cross generated demand as the market awaited the Bank of England’s interest rate decision. The forecast for GDP was dropped for 2016 to 1.7% against November 2015’s 1.8%. CPI in Eurozone countries is s... -
Finance 0
3 Things: Fed Late, Rate Review, Pricing In “R”
The Fed Is Behind The Curve…Again Over the last couple of months, I have been discussing the technical deterioration of the market that is occurring beneath the surface of the major indices. I have also suggested there is more than sufficient evidence to suggest we may be entering into a more protracted “bear market cycle.” The caveat to this, of course, has been the potential for a renewed round of Central Bank interventions that would theoretically once again postpone the onset of such a decline. To wit: “The top section of the chart is a basic ‘overbought / oversold’ indicator with extreme levels of ‘oversold’ conditions ... -
Finance 0
E The Daily Shot And Data – February 4, 2016
Greetings, Let’s start in the United States where the ISM non-manufacturing report missed consensus. While the weakness in manufacturing can be dismissed as being a relatively small portion of the GDP, slower growth in services got everyone’s attention. Business activity, exports, and even the employment growth weakened. Source: Investing.com Source: ISM A measure above 50 indicates growth, but this chart clearly says that the US service sector growth has slowed sharply. It was interesting to see that the ADP employment report continues to show a solid pace of job creation. Source: ADP The ISM index on the other hand indicates a s... -
Finance 0
The U.S. Dollar Needs To Die
You can’t fix a problem until you can define it. So, let’s define the global problem today: the strength of the U.S. dollar. Outside of the Japanese yen’s self-imposed march toward extinction and the euro’s peripheral debt troubles, the buck is behind most of the financial struggles the world grapples with today. Fix the dollar and you fix the world … and with it the U.S. And the solution to the dollar is simple: Scrap it. Toss it onto the dung heap of dead currencies and begin anew. A fresh start with new scrip. Prettier this time, too. No more of the drab green paper with portraits of dead white men and blah federal buildings a... -
Finance 0
The Stock Whisper Of The Day: SPY, FCX, USO
Hot stocks of the day: SPY, FCX, USO Video length: 00:0:4:35... -
Finance 0
Bank Of America Crashes To $13: Now A Deep Value Play
BAC May Be a Deep Value Play As the S&P 500 has fallen 6 percent year to date, our Bank of America stock has collapsed, falling by 23 percent. (Nasdaq.com) While many investors have been concerned about the exposure big banks, including Bank of America, have to the falling energy market, the bank has set aside some money to cover its potential losses and has a low exposure to energy of just around 2.4 percent of all of its loan totals. The bank’s stock appears to be modestly undervalued, providing a potential opportunity for deep value investors. Lower 2015 Legal Costs and Increasing Profits for BAC Bank of America (NYSE:BAC) has ...
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