Company Overview and News
BP plc (ADR) (NYSE:BP) has had a nice rally of late. Buoyed by rising Brent crude prices, the BP stock price has risen 20% just since mid-August, reaching a two-year high in the process. (64-0)
* Petroleo Brasileiro Sa Petrobras - Announced pricing of 2 series of global notes denominated in US dollars to be issued by unit Petrobras Global Finance Source text for Eikon: Further company coverage: (2-0)
The energy sector has been on a volatile roller-coaster ride for the past few months. Oil prices rebounded when the Organization of Petroleum Exporting Countries (OPEC) announced last November that it was going to cap oil-production, then collapsed when the Energy Information Administration (EIA) announced larger-than-expected crude-oil inventory builds.
Unwilling or unable to follow through on yesterday’s move to record highs, the bulls were suspiciously absent from Tuesday’s action … despite a lack of a clear bearish catalyst. By the time the closing bell rang, the S&P 500 was at 2,437.03, down 0.67%.
Not yet a year into his presidency, Brazilian President Michel Temer is facing a major bribery scandal that has sent Brazilian stocks tumbling.
In a complete reversal of yesterday’s sharp selloff, the S&P 500 gained 0.37% on Thursday to end the session at 2,365.74. Although one good day isn’t any assurance that Wednesday’s 1.82% rout was a one-off, it does offer a glimmer of hope that stocks aren’t doomed to an outright implosion.
The “Biggest Market Move on a Political Scandal on Thursday” award will go to a dark horse. While the U.S. is mired in piling allegations of Trump administration collusion with Russia, Brazil came out of nowhere with its own presidential incident to topple the iShares MSCI Brazil Index (ETF) (NYSEARCA:EWZ) by more than 17% this morning.
You can say this much for anyone who’s stepped into a new position in Exxon Mobil Corporation (NYSE:XOM) this week — they’ve got guts. With XOM stock rekindling a downtrend that got started at the beginning of the year that’s carried it to within sight of a new 52-week low, most onlookers are fearing the worst.
One of the advantages of the exchange-traded funds (ETFs) revolution is the number of foreign markets now readily accessible to U.S. investors. That includes emerging markets, and, in particular, Brazil, via iShares MSCI Brazil Index (ETF) (NYSEARCA:EWZ).
A policeman stands in front of the Petrobras headquarters in Rio de Janeiro March 4, 2015. — Reuters picSAO PAULO, April 5 — US oil company Exxon Mobil Corp expressed to Brazil’s state-controlled company Petrobras “strong interest” in the exploration of deep-water oil fields off the Brazilian coast, Petrobras Chief Executive Pedro Parente said yesterday.
SAO PAULO: U.S. oil company Exxon Mobil Corp expressed to Brazil's state-controlled company Petrobras "strong interest" in the exploration of deep-water oil fields off the Brazilian coast, Petrobras Chief Executive Pedro Parente said on Tuesday.
Tuesday wasn’t a good day for stocks, though it could have been worse. By the time the closing bell rang, the S&P 500 was at 2,365.45, down 0.34%. That was below some key technical levels, but above other key marks, as traders now have a little too much to think about.
The Q4 earnings season is drawing to a close as 82.2% members of the elite S&P 500 Index have reported quarterly results so far. According to the latest Earnings Preview, the performance of the 411 index members that have already reported their financial numbers this quarter indicate that total earnings have increased 8% on 4.9% higher revenues. The beat ratio is strong with 68.9% companies surpassing bottom-line expectations and 54.
Abaxis, Inc. (ABAX - Free Report) develops, manufactures and markets portable blood analysis systems. The Zacks Consensus Estimate for its current year earnings has been revised 2.1% downward over the last 30 days.
Waste management firm Republic Services, Inc. (RSG - Free Report) reported relatively healthy fourth-quarter 2016 results with GAAP earnings of $189.5 million or 55 cents per share compared with $172.3 million or 49 cents per share in the year-ago quarter. The year-over-year increase in earnings was primarily attributable to higher revenues. Excluding non-recurring items, adjusted earnings for the reported quarter were $193.
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