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1
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity

Oil service giant, Schlumberger whose stocks hit a 52 week high yesterday reported adjusted diluted quarterly earnings per share (EPS) of $0.27 on revenues of $7.11 billion. In the same period a year ago, Schlumberger reported adjusted EPS of $0.65 on revenues of $7.74 billion. Fourth-quarter results also compare to the consensus estimates for EPS of $0.27 on revenues of $7.07 billion.

For the full year, the company reported adjusted EPS of $1.14 on revenues of $27.81 billion, compared with 2015 EPS of $3.37 and revenues of $35.48 billion. Analysts were looking for EPS of $1.15 and revenues of $27.8 billion. On a GAAP basis, Schlumberger posted a quarterly per-share loss of $0.15 and a full-year net loss per share of $1.24. A year ago, the fourth-quarter net loss totaled $0.81 and EPS for the full-year came in at $1.63.

Reaction: Schlumberger Limited. NYSE: SLB Pre-market: 86.61 +0.59 +0.68% The 52-week high was posted yesterday at $87.84.   The 52-week low is $62.97 to $87.84.

Full Report

http://traderscommunity.com/forum/index.php?topic=1074.msg6314#msg6314

2
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue

General Electric (GE) reported fourth-quarter earnings Friday before the market opened. The results were in line but revenue missed estimates through GE's oil and gas segment. Oilfield services provider Baker Hughes (BHI) will merge with GE's oil and gas unit later this year. This morning Schlumberger (SLB) reported earnings with strong Strong MidEast & North America activity

Earnings: EPS of 46 cents on revenue of $33.1 billion. Estimates were EPS down 11.5% to 46 cents and revenue to fall 0.6% to $33.63 billion.

GE segment revenue
- Oil and gas revenue fell 22% to $3.4 billion,
- Power systems revenue rose 20% to $8.48 billion.

Full Report

http://traderscommunity.com/forum/index.php?topic=1082.0

3
As Donald J Trump was sworn into office as the 45th President of the United States the White House website has been updated with the new vision, policy brush strokes. Notables are a 4% GDP target, renegotiating NAFTA and US to withdraw from TPP.

The site has a new energy plan, An America First Energy Plan with the following highlights;
- Lower costs that maximize the use of American resources, freeing us from dependence on foreign oil.
- Eliminating harmful and unnecessary policies such as Climate Action Plan and Waters of the U.S. rule.
 

- Shale oil and gas revolution to bring jobs and prosperity to millions of Americans, estimated $50 trillion in untapped shale, oil, and natural gas reserves
- Revenues from energy production to rebuild roads, schools, bridges and public infrastructure.
- Committed to clean coal technology, and to reviving America’s coal industry
- Committed to achieving energy independence from OPEC cartel
- Responsible stewardship of the environment. Protecting clean air and clean water, conserving our natural habitats, and preserving our natural reserves and resources will remain a high priority.
- Refocus the EPA on its essential mission of protecting our air and water.

In Full From the Whitehouse website:
An America First Energy Plan

Energy is an essential part of American life and a staple of the world economy. The Trump Administration is committed to energy policies that lower costs for hardworking Americans and maximize the use of American resources, freeing us from dependence on foreign oil.

For too long, we’ve been held back by burdensome regulations on our energy industry. President Trump is committed to eliminating harmful and unnecessary policies such as the Climate Action Plan and the Waters of the U.S. rule. Lifting these restrictions will greatly help American workers, increasing wages by more than $30 billion over the next 7 years.

Sound energy policy begins with the recognition that we have vast untapped domestic energy reserves right here in America. The Trump Administration will embrace the shale oil and gas revolution to bring jobs and prosperity to millions of Americans. We must take advantage of the estimated $50 trillion in untapped shale, oil, and natural gas reserves, especially those on federal lands that the American people own. We will use the revenues from energy production to rebuild our roads, schools, bridges and public infrastructure. Less expensive energy will be a big boost to American agriculture, as well.

The Trump Administration is also committed to clean coal technology, and to reviving America’s coal industry, which has been hurting for too long.

In addition to being good for our economy, boosting domestic energy production is in America’s national security interest. President Trump is committed to achieving energy independence from the OPEC cartel and any nations hostile to our interests. At the same time, we will work with our Gulf allies to develop a positive energy relationship as part of our anti-terrorism strategy.

Lastly, our need for energy must go hand-in-hand with responsible stewardship of the environment. Protecting clean air and clean water, conserving our natural habitats, and preserving our natural reserves and resources will remain a high priority. President Trump will refocus the EPA on its essential mission of protecting our air and water.

A brighter future depends on energy policies that stimulate our economy, ensure our security, and protect our health. Under the Trump Administration’s energy policies, that future can become a reality.

View Original Source: https://www.whitehouse.gov/america-first-energy

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Check out OOTTNews.com for the latest news and data on oil markets.

From TradersCommunity News Desk

4
Breaking News / Baker Hughes Gas Rig Count
« on: Today at 12:15:46 PM »
US Rig Count

Gas +6 to 142

Canadian rig count

Gas rigs 149 +5

via @BHInc

5
Breaking News / Canadian Bakers Hughes Rig Count
« on: Today at 12:12:00 PM »
Canadian rig count via @BHInc

oil rigs 193, +23
gas rigs 149, +5
misc. rigs 0, -1

Total count 342 vs 315 last week

6
Breaking News / Baker Hughes Oil Rig Count +29 to 551
« on: Today at 12:08:50 PM »
Baker Hughes Rig Count

BHI US oil rig count +29 to 551,  +41 vs yr ago 510

7
Breaking News / Schlumberger $SLB Earnings Conference Call
« on: Today at 12:03:23 PM »
Schlumberger $SLB CEO

- continue to experience payment delays from some customers
- "business environment is becoming unsustainable for us"
- activity is Asia seem to have bottomed out and expect a slow recovery to start in the coming quarter
-over the next several months, oil prices are expected to fluctuate around current levels
-first quarter will be a low for the Cameron Group in both revenue and margin partly due to reduced backlog

via Reuters

8
ECB and French central bank head, Francois Villeroy speaking in Davos day after ECB Meeting

Headlines:

Growth
There are signs of progress on meeting the ECB's targets
There are signs that the Eurozone has potential growth upside
The Eurozone economy may be better than expected
Eurozone price stability is good for the German economy

Inflation
The ECB's 2% inflation goal is a mid-term objective
We're not close to our inflation target
We have not spoken about tapering
The ECB's mandate is for average Eurozone inflation
The temporary peak in German inflation is acceptable

EU
The EU single market cannot be divided
Has had serious contact on bringing bank jobs to Paris


9
General Electric (GE) reported fourth-quarter earnings Friday before the market opened. The results were in line but revenue missed estimates through GE's oil and gas segment. Oilfield services provider Baker Hughes (BHI) will merge with GE's oil and gas unit later this year. This morning Schlumberger (SLB) reported earnings with strong Strong MidEast & North America activity

Earnings: EPS of 46 cents on revenue of $33.1 billion. Estimates were EPS down 11.5% to 46 cents and revenue to fall 0.6% to $33.63 billion.

GE segment revenue
- Oil and gas revenue fell 22% to $3.4 billion,
- Power systems revenue rose 20% to $8.48 billion.
 

- Renewable energy revenue jumped 29% to $2.5 billion
- Energy connections and lighting fell 29% to $3.3 billion
- Transportation dropped 23% to $1.24 billion
- Aviation rose 7% to $7.19 billion,
- Healthcare rose 3% to $5.1 billion,
- Industrial orders rose 4%.


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Reaction:GE NYSE: GE Pre-Market: 30.70 -1.6%

Note that oilfield services provider Baker Hughes (BHI) which will merge with GE's oil and gas unit later this year rose  less than 0.1%.



Quote
"We executed on our 2016 goals and continued to drive growth across our businesses through the GE Store while investing in additive manufacturing and digital technology. We will continue to invest in the Industrial Internet to lead in productivity and performance for our customers in 2017." said $GE's CEO Jeff Immelt.


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Guidance:Outlook: Backed 2017 organic growth target of 3%-5%.

More Earnings News

Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 

Live From The Pit

10
Schlumberger Ltd. SLB reported fourth-quarter Earnings

Oil service giant, Schlumberger whose stocks hit a 52 week high yesterday reported adjusted diluted quarterly earnings per share (EPS) of $0.27 on revenues of $7.11 billion. In the same period a year ago, Schlumberger reported adjusted EPS of $0.65 on revenues of $7.74 billion. Fourth-quarter results also compare to the consensus estimates for EPS of $0.27 on revenues of $7.07 billion.

For the full year, the company reported adjusted EPS of $1.14 on revenues of $27.81 billion, compared with 2015 EPS of $3.37 and revenues of $35.48 billion. Analysts were looking for EPS of $1.15 and revenues of $27.8 billion. On a GAAP basis, Schlumberger posted a quarterly per-share loss of $0.15 and a full-year net loss per share of $1.24. A year ago, the fourth-quarter net loss totaled $0.81 and EPS for the full-year came in at $1.63.

Reaction: Schlumberger Limited. NYSE: SLB Pre-market: 86.61 +0.59 +0.68% The 52-week high was posted yesterday at $87.84.   The 52-week low is $62.97 to $87.84.
 



Cameron and Egypt

Schlumberger took a $536 million restructuring charge in the fourth quarter and further charges of $139 million related to the Cameron acquisition and the currency devaluation in Egypt. SLB said  among the business segments, 4Q16 revenue increase was led by the Production Group, which grew 5% due to increased hydraulic fracturing activity in the Middle East and in North America land. Reservoir Characterization Group revenue rose 1% sequentially due to strong Testing & Process activity in Kuwait.

CEO Paal Kibsgaard said of  Schlumberger’s 1% sequential revenue growth, noting driven by “strong activity in the Middle East and North America.”

Quote
We maintain our constructive view of the oil markets, as the tightening of the supply and demand balance continued in the fourth quarter, as seen by a steady draw in OECD stocks. This trend was further strengthened by the December OPEC and non-OPEC agreements to cut production, which should, with a certain lag, accelerate inventory draws, support a further increase in oil prices, and lead to increased E&P investments.

We expect the growth in investments to initially be led by land operators in North America, where continued negative free cash flows seem less of a constraint, as external funding is readily available and the pursuit of shorter-term equity value takes precedence over full-cycle return on investment. E&P spending surveys currently indicate that 2017 NAM E&P investments will increase by around 30%, led by the Permian basin, which should lead to both higher activity and a long overdue recovery in service industry pricing. said CEO Paal Kibsgaard


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SLB's 4Q16 Drilling Group revenue was flat sequentially as continued strong directional drilling activity in North America land was offset by activity declines in Europe/CIS/Africa and Middle East & Asia. Additionally, Cameron Group revenue was also flat sequentially, with growth in OneSubsea and Surface Systems.

During the second quarter Schlumberger repurchased 1.5 million shares of stock at an average price of $78.21 per share for a total cost of $116 million.

Guidance:

Schlumberger did not offer guidance in its press release, but consensus estimates call for first-quarter EPS of $0.30 and revenues of $7.18 billion. For the full year, EPS is forecast at $1.91 on $31.48 billion in revenue.

2017 capital spending is forecast at $2.2 billion, slightly more than the $2.1 billion 2016 total.

The stock’s 52-week range is $62.97 to $87.84, and the high was posted Thursday. The 12-month consensus price target was $96.12 before results were announced.

11
Breaking News / IBM Earnings To Watch Jan 19 2017
« on: January 19, 2017, 04:17:42 PM »
IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting

Technology giant and Dow member IBM (IBM) reported fourth-quarter earnings after the market close Thursday beating on the top and bottom lines for the fifth straight quarter and also giving strong 2017 earnings guidance.

Earnings: IBM reported marginally higher 4Q16 earnings of $5.01 per share, helped by lower expenses beating the consensus estimate of $4.88 and rising 3.5% year over year. It reported revenue from continuing operations of $21.77 billion down 1.31% beating the consensus of $21.6 billion.

Reaction:IBM NYSE: IBM After-hours: 163.31 -3.50 -2.10%

Full Story

http://traderscommunity.com/forum/index.php?topic=1081.0

12
Breaking News / American Express $AXP Earnings To Watch Jan 19 2017
« on: January 19, 2017, 04:13:10 PM »
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017

Dow member American Express (AXP) missed analysts expectations with its 4Q16 earnings Thursday but talked up 2017. gave strong guidance.

Earnings: Adjusted EPS of 91 cents on revenue of $8.02 billion vs. estimates of 20% earnings-per-share drop to 98 cents, with revenue down 5% to $7.949 billion. Noticeably they increased  provisions for losses 9% to $625 million.

AXP is hurting from lost Costco $COST Business. Q4 is also the second straight quarter of lower EPS. Adjusted for lost Costco business, currency swings and interest expense American Express said Q4 revenue rose 6%.

Reaction: American Express Company NYSE: AXP After-hours: 76.40 -0.29 -0.38%

Full Report
http://traderscommunity.com/forum/index.php?topic=1080.0


13
Technology giant and Dow member IBM (IBM) reported fourth-quarter earnings after the market close Thursday beating on the top and bottom lines for the fifth straight quarter and also giving strong 2017 earnings guidance.

Earnings: IBM reported marginally higher 4Q16 earnings of $5.01 per share, helped by lower expenses beating the consensus estimate of $4.88 and rising 3.5% year over year. It reported revenue from continuing operations of $21.77 billion down 1.31% beating the consensus of $21.6 billion.

Reaction:IBM NYSE: IBM After-hours: 163.31 -3.50 -2.10%
 

Cognitive Solutions (CS) revenue was up 1.4% & Cloud Platforms (TSCP) revenue rose 1.7%. but the other three segments posted revenue declines. Global Business Services fell 4.1% & Systems segment revenue fell 12.5%.


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IBM said revenue from strategic imperatives rose 11% Q4 and came in at $32.8 billion for the full year, representing 41% of total IBM revenue. Since 2010, IBM has invested about $30 billion in these areas.


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Guidance: For 2017 IBM expects operating EPS of at least $13.80 vs consensus of $13.74. Operating non-GAAP diluted EPS exclude $1.85 per share of charges for amortization of purchased intangible assets, other acquisition-related charges and retirement-related charges.

IBM sold off all day and after the report chart via ‏@Lizardjb3



More Earnings News

American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
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Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Goldman Sachs $GS Earnings This Week
What to Expect From Citibank $C Earnings This Week 
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 
Live From The Pit

14
Dow member American Express (AXP) missed analysts expectations with its 4Q16 earnings Thursday but talked up 2017. gave strong guidance.

Earnings: Adjusted EPS of 91 cents on revenue of $8.02 billion vs. estimates of 20% earnings-per-share drop to 98 cents, with revenue down 5% to $7.949 billion. Noticeably they increased  provisions for losses 9% to $625 million.

AXP is hurting from lost Costco $COST Business. Q4 is also the second straight quarter of lower EPS. Adjusted for lost Costco business, currency swings and interest expense American Express said Q4 revenue rose 6%.

Reaction: American Express Company NYSE: AXP After-hours: 76.40 -0.29 -0.38%

 

Last year, American Express' partnership with Costco (COST) ended as the warehouse membership giant switched allegiances to Citigroup (C) and Visa.

In 4Q16 AXP’s US Consumer Services segment, total revenues net of interest expense decreased 10% to $3Bil from 4Q15. In International Consumer and Network Services,  total revenues were $1.4Bil, up 2% from a year ago. Global Commercial Services total revenues grew 1% to $2.5Bil. Global Merchant Services total revenues fell 7% to $1.1Bil.


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Last year, American Express' partnership with Costco (COST) ended when they switched allegiances to Citigroup (C) and Visa.

Quote
"We continued to grow our lending portfolio faster than the market while maintaining industry-leading credit metrics. We acquired over 10 million new cards globally last year, and we added more than a million new merchants to our network in the United States alone," Chairman and CEO Kenneth Chenault said in a statement.



Guidance: Full-year 2017 EPS of $5.60-$5.80, with midpoint above consensus estimates of $5.61

More Earnings News

IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Goldman Sachs $GS Earnings This Week
What to Expect From Citibank $C Earnings This Week 
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 
Live From The Pit

15
Crude Feb WTI oil futures settle at $51.37 Up $0.29 or 0.57% after report

16
Breaking News / Re: EIA Weekly Natural Gas Storage -243 BCF #TCNG
« on: January 19, 2017, 01:53:40 PM »
Great chart this was also the daily Ichimoku cloud - before the number but still nice confluence

Today's low in #NatGas @ $3.257...Fibonacci 61.8% retracement = $3.257...like clockwork @EnergyBasis


17
Breaking News / Plexus PLXS Earnings To Watch Jan 18 2017
« on: January 19, 2017, 01:18:32 PM »
Plexus PLXS Earnings

Reported first quarter earnings of $0.82 per share, above expectations. On the top line, revenues rose 3.0% year/year to $635 million,  in-line with expectations (slightly above). The company reported an operating margin of 5.3% and an ROIC of 17.3%.

PLXS won 51 Manufacturing Solutions programs during the quarter representing approximately $217 million in annualized revenue when fully ramped into production.

Guidance

Looking ahead into the second quarter, the company expects to see GAAP EPS of $0.71-$0.79, which falls in-line with expectations. Revenue is expected to fall in the range of $620-$650 million, which comes up short of expectations.

Quote
The company's CEO also said, "Late in the fiscal first quarter we fulfilled a broad-based pull-in of demand from customers within our Communications market sector that offset weaker than anticipated revenue from the Defense/Security/Aerospace market sector. Consequently, fiscal first quarter revenue of $635 million was at the midpoint of our guidance range. Strong operating performance enabled us to achieve GAAP diluted EPS of $0.82, at the top of our guidance range."

The company also purchased $7.1 million of its shares at average price of $48.79/share during the quarter.

Reaction:

Now 53.83 +0.42 after spiking above above $55.50

18
Breaking News / Re: Crude Stocks and Production YoY EIA Oil Inventories
« on: January 19, 2017, 01:07:14 PM »
Crude stocks rose by 2.347 mbbls to 485.46 mbbls, stocks are currently 30.29 mbbls higher YOY via ‏@EnergyBasis



Crude production fell by -0.002 mbpd to 8.944 mbpd, production is currently -0.291 mbpd lower YOY via ‏@EnergyBasis

Crude Production Since Price Collapse ‏@EnergyBasis






19
Breaking News / Gasoline Stocks & Demand - EIA Oil Inventories #TCOIL
« on: January 19, 2017, 01:05:09 PM »
Gasoline stocks rose by 5.951 mbbls to 246.42 mbbls, stocks are currently 1.427 mbbls higher YOY. via ‏@EnergyBasis



Gasoline demand fell by -0.401 mbpd to 8.069 mbpd, demand is currently -1.01 mbpd lower YOY. via ‏@EnergyBasis


20
Breaking News / Distillate Stocks & Demand - EIA Oil Inventories #TCoil
« on: January 19, 2017, 01:02:50 PM »
Distillate stocks fell by -0.968 mbbls to 169.07 mbbls, stocks are currently 4.544 mbbls higher YOY. via ‏@EnergyBasis



Distillate demand rose by 0.897 mbpd to 4.095 mbpd, demand is currently 0.417 mbpd higher YOY.  via ‏@EnergyBasis


21
Breaking News / Crude Stocks and Production YoY EIA Oil Inventories
« on: January 19, 2017, 01:00:26 PM »
Crude stocks rose by 2.347 mbbls to 485.46 mbbls, stocks are currently 30.29 mbbls higher YOY via ‏@EnergyBasis



Crude production fell by -0.002 mbpd to 8.944 mbpd, production is currently -0.291 mbpd lower YOY via ‏@EnergyBasis


22
Breaking News / PADD3 Breakdown & Imports EIA Oil Inventories
« on: January 19, 2017, 12:57:09 PM »
PADD3 Crude Imports for Week Ending January 13, 2017 via ‏@EnergyBasis



PADD3 #DOE Report (in mbbls) for Week Ending January 13, 2017 via ‏@EnergyBasis


23
Distillate Stocks (in mbbls) by PADD for Week Ending January 13, 2017 ‏@EnergyBasis


24
Gasoline Stocks (in mbbls) by #PADD for Week Ending January 13, 2017 via @EnergyBasis


25
Breaking News / Canadian Pacific Railway $CP To Watch Jan 18 2017
« on: January 19, 2017, 09:43:17 AM »
Canadian Pacific Railway (NYSE:CP): Q4 EPS of C$3.04 beats by C$0.66.
Revenue of C$1.64B (-3.0% Y/Y) beats by C$380M.
Qtrly operating ratio 56.2% versus 59.8% last year

plans to invest approximately $1.25 billion in capital programs in 2017

Canadian Pacific Railway Ltd. announced Wednesday that Harrison, 72, will step down immediately. He had originally planned to retire in July, but now intends to “pursue opportunities involving other Class 1 railroads,” CP said, using the industry term to refer to the largest North American railways by revenue.

Shares of Florida-based CSX Corp., which rebuffed CP’s merger attempts in 2014, jumped more than 12% in after-hours trading on speculation that it might be the next beneficiary of Harrison’s legendary ability to turn underperforming railroads into models of operational efficiency.

http://business.financialpost.com/news/transportation/canadian-pacific-railway-ltd-chief-executive-steps-down-early-to-pursue-opportunities-at-competitors

Big Jump higher>

CSX Corporation NASDAQ: CSX - Jan 19, 10:41 AM EST 43.44 +6.56 +17.79%

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