Oil prices are coming back to life. Global demand is soaring on the back of booming global GDP growth and oil inventories are plummeting even during winter which is a historically slow period for demand. As oil prices and the cash flow of oil companies rise, oil producers will inevitably return to offshore with its long life assets. In this environment, offshore drillers are set to outperform. Even....More>>>
Brent Oil rose 2% on Tuesday to a high of $56.76 on comments from OPEC and major trading firms that Oil market is rebalancing. Also boosting prices was Saudi Arabia's export cuts in November. At the time of writing, Brent was trading at $56.60/barrel.
Bullish comments from major oil trading firms/investment banks
The chief executive of the trading firm Gunvor,....More>>>
Rowan Companies (NYSE: RDC) is a publicly traded offshore drilling company with a market cap of more than $1.5 billion. The company has had a difficult time since the start of the oil crash with its stock price dropping by almost 75%. Despite that, Rowan companies strong assets and financials, combined with a recovering offshore market, make it a strong investment at the present time.
Three energy-related IPOs plan to raise about $750 million in the week ahead. Two have direct exposure to oil prices, including Extraction Oil & Gas, which plans to raise $550 million as the first E&P to go public in over two years. An oilfield services company and an India-based solar power producer round out the group.
Renaissance Capital’s IPO Calendar – Week of....More>>>
Inspired by reports that OPEC had come to an agreement to curb its oil output as a means of propping up floundering crude prices, stocks got Wednesday started on a rather bullish foot. They just didn’t end it that way. By the time the closing bell rang, the S&P 500 was back in the red by 0.27%, closing at 2,198.81.
It was even worse for shareholders of Valeant Pharmaceuticals Intl....More>>>
An earlier version of this reported provided an incorrect definition for a so-called golden cross. A golden cross is typically viewed as a bullish trend that occurs when an assets short-term average forms above its long-term average.
Italy’s biggest bank plans to raise 13 billion ($13.8 billion) and slash thousands of jobs to shore up its finances.
The sweeping overhaul announced Tuesday by UniCredit SpA will push the total number of expected job losses at the Milan-based bank to 14,000 by 2019. That’s about 10% of its employees.
The job cuts will reduce costs by 1.1 billion ($1.2 billion).
Halyard Health (NYSE:HYH), a company that provides health and healthcare supplies including surgical and infection prevention (“S&IP”) and medical devices, continues to transform towards higher margin medical devices while attempting to stabilize is lower margin price sensitive S&IP division. The company’s most recent quarterly results exceeded analyst revenue and....More>>>
The major development this week is that all of the rigs that left the Gulf of Mexico due to looming hurricane activity are back. This also helps answer the question of what will happen to imports next week, which were also disrupted due to hurricane activity. Other than that, there were no major rig additions and there was actually a small decline of rigs in the Permian.
Crude oil prices....More>>>
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Chevron Corporation (NYSE: CVX) has “the most differentiated growth and free cash flow outlook,” Morgan Stanley’s Evan Calio said in....More>>>