Reuters: Investors in the banking sector were disturbed by the CIT (NYSE:CIT) bankruptcy.
Reuters: Summers will lead a high level meeting on the economy.
Reuters: US companies are holding more cash.
Reuters: The Fed is likely to keep interest rates flat due to economic uncertainty. Read More
Oil and gas E&P company Denbury Resources Inc. (NYSE:DNR) will be added to the S&P 500 after trading closes on April 1st. Denbury replaces Rohm and Haas Co. (NYSE:ROH), which Standard & Poor’s expects to be purchased by Dow Chemical Corp. (NYSE:DOW).
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These are the top analyst calls we have seen in the oil patch and in the energy sector this Monday morning:
JON C. OGG
Venoco, Incorporated (NYSE:VQ) announced this morning that it will cut its capital spending in 2009 to $150 million. As recently as last November, Venoco had planned to spend $400 million on capex in 2009.
There are many C-Suite executive from Wall Street to main Street that didn’t exactly get their stock priorities right. Many company executives are getting margin calls and are being forced to liquidate their stocks. Some are for stocks in their own company, some are for stocks and general, and some are just forced to sell to meet margin calls for entirely different reasons unrelated to their companies. below is a partial list of margin call victims from this week:
Gareth Roberts, CEO of Denbury Resources (NYSE:DNR) was forced to sell 513,000 shares of the company’s stock to meet a margin call "pursuant to a real estate based loan." That was about 15% of his holdings. This is not at all the first CEO in this boat, and it isn’t just smaller company CEO’s caught up in the margin call mayhem.
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| Home Furnishing R... | +14.1% |
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