Posts for Ticker ‘STO’

Is The New Nordic ETF For You? (GXF, ERIC, NOK, NHY, NVO, STO)

NYSE Euronext has begun trading a new ETF this week that is meant to track the large companies throughout the Nordic region.  This seeks to track the FTSE Nordic 30 Index, which is comprised of the 30 largest and most liquid companies in Sweden, Denmark, Norway, and Finland. The ETF launched is called the Global X FTSE Nordic 30 ETF (NYSE: GXF) and it is sponsored by Global X Funds.

You might even think of this as the Nordic-Dow.  Some of the key ADR stocks in the index that you will easily recognize are LM Ericsson Telephone Co. (NASDAQ: ERIC), Nokia Corp. (NYSE: NOK), Norsk Hydro (NYSE: NHY), Novo-Nordisk (NYSE: NVO), and StatoilHydro ASA (NYSE: STO).

Here is a full list of the 30 constituents.

JON C. OGG
AUGUST 20, 2009

Posted on: August 20, 2009 – 3:58 pm in ADR, ETF, , , , , ,

Top Early Bird Analyst Calls (APC, NLY, CTL, KEY, INTC, LSI, MMM, MRVL, STO, STLD)

These are the top pre-market early-bird analyst calls we have seen with about two and a half hours until the market opens this Tuesday morning:

Anadarko Petroleum (APC) Raised to Buy at BofA/Merrill Lynch.
Annaly Mortgage (NLY) STarted as Overweight at Barclays.
CenturyTel (CTL) Raised to Buy at UBS.
KeyCorp (KEY) Raised to Outperform at KBW.
Intel (INTC) Raised to Neutral at BofA/Merrill Lynch.
LSI Corp. (LSI) Raised to Buy at BofA/Merrill Lynch.
3M (MMM) Started as Buy at Jefferies.
Marvell Tech (MRVL) Raised to Buy at BofA/Merrill Lynch.
StatoilHydro (STO) Raised to Buy at BofA/Merrill Lynch.
Steel Dynamics (STLD) Raised to Buy at BofA/Merrill Lynch.

JON C. OGG

Posted on: July 7, 2009 – 6:12 am in Analyst Calls, , , , , , , , , ,

Top 10 Analyst Upgrades & Downgrades (ARG, T, GOOG, HOV, MELI, SSL, STO, TSM, TRI, WSM)

These are the top ten analyst calls for research upgrades, downgrades, and initiations which we have seen from Wall Street early this Monday morning:
Airgas (ARG) Started as Buy at Piper Jaffray.
AT&T (T) Removed from Conviction Buy List at Goldman Sachs, but maintained Buy rating with 32% upside.
Google (GOOG) Cut to Hold from Buy at Benchmark.
Hovnanian (HOV) Cut to Underperform at Wachovia.
MercadoLibre (MELI) Raised to Positive at Susquehanna.
Sassol (SSL) Started as Neutral at UBS.
StatoilHydro (STO) Cut to Sell from Neutral at UBS.
Taiwan Semi (TSM) Raised to Overweight at Morgan Stanley.
Thomson Reuters (TRI) Raised to Outperform at Scotia.
Williams-Sonoma (WSM) Raised to Buy at Piper Jaffray.

JON C. OGG
June 8, 2009

Posted on: June 8, 2009 – 6:53 am in Analyst Calls, , , , , , , , , ,

PG&E Bringing Solar Power For 530,000 Homes (PCG, CVX, MS, BP, STO)

Solar Panel PicPacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), has entered into a series of contracts with BrightSource Energy, Inc.   While we consider most individual projects essentially as footnotes at large utilities, the size of this as far as number of homes is massive.  After a review of BrightSource, its investing backers are units of Chevron (NYSE: CVX), Morgan Stanley (NYSE: MS), BP plc (NYSE: BP), StatoilHydro (NYSE: STO), and venture capital firms.

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Posted on: May 13, 2009 – 1:02 pm in Alternative Energy, Green Biz, Utilities, , , , ,

Top Analyst Downgrades (AXP, BKE, CIEN, ENER, IP, LINTA, RBS, STO, TSM, TIN, VSAT)

These are some of the top analyst downgrades and cautious research calls we have seen from Wall Street early this Tuesday morning:

American Express (AXP) Started as Underperform at RBC.
Buckle (BKE) Cut to Underweight at KeyBanc.
Ciena (CIEN) Cut to Underperform at JMP Securities.
Energy Conversion Devices (ENER) Cut to Hold at Citi; Cut to Neutral at Credit Suisse.
International Paper (IP) Cut to Hold at Deutsche Bank.
Liberty Media (LINTA) Cut to Sell at Citi.
Royal Bank of Scotland (RBS) Cut to Underperform at Credit Suisse.
StatoilHydro (STO) Cut to Hold at Societe Generale.
Taiwan Semiconductor (TSM) Cut To Market Perform at FBR.
Temple-Inland (TIN) Cut to Hold at Deutsche Bank.
ViaSat (VSAT) Cut to Hold at Collins Stewart.

JON C. OGG

Posted on: May 12, 2009 – 6:39 am in Analyst Calls, , , , , , , , , , ,

Analysts Up & Down The Oil Patch (BP, COP, XOM, RDS.A, STO, TOT)

We have actually seen a lot of analyst calls in the oil patch this morning.  Some are conflicting against each other as you will see.

  • BP plc (NYSE: BP) Started as Underweight at Barclays.
  • ConocoPhillips     (NYSE: COP) Raised to Hold at Deutsche Bank.
  • Exxon Mobil (NYSE: XOM) Raised to Buy at Deutsche Bank.
  • Royal Dutch Shell (NYSE: RDS.A) Started as Underweight at Barclays.
  • StatoilHydro (NYSE: STO) Cut to Neutral at JPMorgan.
  • Total S.A. (NYSE: TOT) Started as Overweight at Barclays.

Jon C. Ogg
February 23, 2009

Posted on: February 23, 2009 – 9:14 am in Analyst Calls, Oil & Gas, , , , , ,

Tuesday’s Top Analyst Upgrades & Downgrades (BJ, GLW, DRI, DTSI, ITW, RBS, VIA, BHP, COF, FITB, MAT, STO)

These are some of Tuesday morning’s top pre-market upgrades and downgrades we have seen from Wall Street analysts with more than two hours until the open:

  • BJ’s Wholesale (NYSE: BJ) Raised to Buy at UBS.
  • Corning (NYSE: GLW) Started as Outperform at Oppenheimer.
  • Darden restaurants (NYSE: DRI) Started as Outperform at Baird.
  • Digital Theater Systems (NASDAQ: DTSI) Raised to Overweight at JPMorgan.
  • Illinois Toolworks (NYSE: ITW) Raised to Overweight at JPMorgan.
  • Royal Bank of Scotland (NYSE: RBS) Raised to Overweight at HSBC.
  • Viacom (NYSE: VIA) Raised to Overweight at Barclays.
  • BHP Billiton (NYSE: BHP) Cut to Hold at ABN AMRO.
  • Capital One (NYSE: COF) Target cut by more than half to $18 at Goldman Sachs.
  • Fifth Third (NASDAQ: FITB) Target cut 75% down to $2.00 at Goldman Sachs.
  • Mattel (NYSE: MAT) Cut to Neutral at Piper Jaffray.
  • StatoilHydro (NYSE: STO) Cut to Underweight at Morgan Stanley.

Jon C. Ogg
February 3, 2009

Posted on: February 3, 2009 – 7:29 am in Analyst Calls, , , , , , , , , , , ,

Is Chesapeake Really In Play? (CHK, BP, STO)

Money_stack_pic_5Chesapeake Energy (NYSE: CHK) is trading marginally higher today on market chatter that BP plc (NYSE: BP) wants to acquire the company.  We first noticed this in the trading for options volume in our Volume Spike analysis from call options activity.   This would make for a very interesting combination, but we want to stress the fact that there has been market talk about this before.

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Posted on: January 26, 2009 – 3:23 pm in Mergers and Buy Outs, Oil & Gas, Rumors, Trading Alert, , ,

Was Chavez Just Joking? (CVX, STO, TOT, BP, COP, XOM)

Judged by the country’s performance in extracting hydrocarbons, Venezuela under President Hugo Chavez has not been a smashing success. Ten years ago, when Chavez first came to power, the country produced about 3.4 million barrels of oil a day. Production currently runs around 2.3 million barrels a day and is still falling.  This decline makes for tough times in Venezuela. The country relies on oil for more than 90% of its export earnings and more than 60% of the government’s budget. That budget also pays for a lot more social programs now than it did ten years ago. In 2007, Venezuela essentially nationalized its oil industry, raisingroyalty payments and, in some cases, expropriating the oil companies’assets.

Chevron Corporation (NYSE:CVX), StatoilHydro ASA (NYSE:STO),Total S.A. (NYSE:TOT), and BP plc (NYSE:BP) retained minority ownershipof their assets. ConocoPhillips Corporation(NYSE:COP) wrote off morethan $4.5 billion in assets and pulled out. Exxon Mobil Corporation(NYSE:XOM) decided to fight, and about $13 billion in assets is atstill at stake, with Exxon winning the original case, but losing anappeal last year.

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Posted on: January 15, 2009 – 11:54 am in Oil & Gas, Politics, , , , , ,

Analysts Downgrading Oil Patch (NOV, PDE, REP, SII, STO, SU, RIG)

Burning_money_pic_2Oil_well_imageIt is probably no huge shock that downgrades are coming more than upgrades now that oil has come down so much.  Too bad these were not the calls several months ago.  Here are some of the downgrades this Wednesday in the oil patch:

  • National Oilwell Varco (NYSE: NOV) Cut to Underweight at JPMorgan.
  • Pride International (NYSE: PDE) Cut to Underweight at JPMorgan.
  • Repsol SA (NYSE: REP) Cut to Neutral at UBS.
  • Smith International (NYSE: SII) Cut to Neutral at JPMorgan.
  • Statoil (NYSE: STO) Cut to Neutral at UBS.
  • Suncor Energy (NYSE: SU) Cut to Sector Perform at RBC.
  • Transocean (NYSE: RIG) Cut to Neutral at JPMorgan.

Jon C. Ogg
January 14, 2009

Posted on: January 14, 2009 – 7:56 am in Analyst Calls, Oil & Gas, , , , , , ,

Chesapeake Continues to Shed Assets for Cash (CHK, GS, BP, STO)

Chesapeake Energy Corporation (NYSE:CHK) has sold about $412 million worth of royalty interests in "long-lived, producing assets" in gas fields in Oklahoma and Arkansas. The buyer was a private equity firm, Argonaut Private Equity, and the deal was financed by an affiliate of The Goldman Sachs Group, Inc. (NYSE:GS).

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Posted on: January 5, 2009 – 10:46 am in Mergers and Buy Outs, Oil & Gas, , , ,

Exploring Anadarko’s Balance Sheet (APC, STO)

Energy company asset sales have become just about the only news in the energy business. No mergers, no acquisitions, no bankruptcies, just sales. Companies are trying to position themselves and their portfolio of assets for an upturn in the economy, whenever that might happen.  Anadarko Petroleum (NYSE:APC) announced yesterday that it had sold its 50% interest in a field offshore of Brazil to Norway’s StatoilHydro (NYSE:STO).

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Posted on: December 11, 2008 – 8:46 am in Mergers and Buy Outs, Oil & Gas, ,

Fluor: A Strong Balance Sheet Is a Good Thing (FLR, STO, XOM, JEC, FWLT, KBR)

When everyone else is ducking for cover, it often pays to stick your neck out. That seems to be what Fluor Corporation (NYSE:FLR) is doing with the announcement of a new business that it is calling Fluor Offshore Solutions. Fluor has been in the offshore business for decades, but is more well-known for its onshore engineering and construction business.  Where it gets interesting is how it is stacking up against peers.

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Posted on: December 4, 2008 – 9:37 am in Infrastructure, , , , , ,

Chesapeake Wants To Print Money (CHK, BP, STO, PXP)

Chesapeake_logoChesapeake Energy Corp. (NYSE:CHK) filed three documents with the SEC on Friday. One replaces a shelf registration that expires on December 5, the second authorizes the issuance of up to 50 million shares of Chesapeake stock "in connection with the acquisition of assets, businesses or securities of other companies," and the third extends an agreement with three of its sales agents to sell up to $1 billion in shares in 2009 and beyond. Chesapeake shares dived more than 15% on the news.  The first and third of these filings are pretty normal. The second,however, leaps off the page.

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Posted on: December 1, 2008 – 10:06 am in Oil & Gas, Secondary Offering, , , ,

Chesapeake Energy: Still Raising Cash (BP, CHK, STO, PXP)

Chesapeake_logoIf BP plc (NYSE:BP) plans to buy Chesapeake Energy (NYSE:CHK) as the rumor mill has suggested, it had better hurry up while there’s still something left. Early this morning, Chesapeake announced that it had sold a 32.5% interest in its Appalachian Marcellus Shale assets to StatoilHydro (NYSE:STO), Norway’s state oil company. Chesapeake banked $3.375 billion in exchange for about 600,000 net acres.

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Posted on: November 11, 2008 – 9:50 am in Oil & Gas, , , ,

Caspian Crude Barely Flowing (BP, CVX, STO, E, TOT, COP, HES)

Oil_gas_pipeline_picOil is trading sharply higher this morning, partly because of oil pipeline and delivery disruptions. Platts reported that crude oil flows through the BTC pipeline have dropped from about 800,000 b/d to 250,000-280,000 b/d. The cause of the reduced flows is the shut-in of about 60% of production in a field operated by BP plc (NYSE:BP). The shut-ins followed the appearance of gas bubbles in the sea around one of the platforms.

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Posted on: September 22, 2008 – 10:55 am in Oil & Gas, , , , , , ,

Oil & Gas Top Analyst Calls (CPX, FSYS, KEG, PXD, STO)

These are some of the analyst calls impacting oil and gas related shares so far this morning from Wall Street research firms:

  • Complete Production Services (NYSE: CPX) Raised To Overweight By JP Morgan; shares indicated up 0.5% on thin volume.
  • Fuel Systems Solutions (NASDAQ: FSYS) Cut to Neutral from Buy at Broadpoint (alternative fuel for transportation and power generation); shares down 3.5% on downgrade.
  • Key Energy Services (NYSE: KEG) Raised ot Outperform at RBC Capital; shares up over 3% so far.
  • Pioneer Natural Resources (NYSE: PXD) Raised to Outperform at BMO Capital; shares up 1.8%.
  • Statoil Hydro (NYSE: STO) Started as Overweight at Morgan Stanley; Cramer just panned this one as "running out of oil" last night on CNBC’s MAD MONEY; shares up 1.3%.

Jon C. Ogg
June 24, 2008

Posted on: June 24, 2008 – 8:15 am in Analyst Calls, Oil & Gas, , , , ,

Top 10 Pre-Market Analyst Calls (ABB, AMLN, ARNA, BP, EFII, MET, NVDA, LSI, NETL, XLNX, STO, TOT, WFC)

These are not the only impact analyst calls this morning, but these are the top calls that 247WallSt.com is focusing on:

  • ABB Ltd. (NYSE: ABB) downgraded to SELL from Hold at Citigroup.
  • Amylin Pharma (NASDAQ:AMLN) started as Outperform at Robert Baird.
  • Arena Pharamaceuticals (NASDAQ:ARNA) raised to Buy from Neutral at Banc of America.
  • BP plc (NYSE: BP) downgraded to Underweight from Equal Weight at Lehman Brothers.
  • Electronics for Imaging (NASDAQ:EFII) downgraded to Neutral from Buy at Banc of America.
  • Metlife (NYSE: MET) raised to Outperform from Market Perform at Bernstein.
  • NVIDIA (NASDAQ:NVDA), LSI (NYSE: LSI), NetLogic (NASDAQ:NETL) and Xilinx (NASDAQ:XLNX) all downgraded to HOLD from Buy at Deutsche Bank.
  • StatoilHydro (NYSE: STO) raised to Outperform from neutral at Credit Suisse.
  • Total SA (NYSE: TOT) downgraded to Neutral from Outperform at Credits Suisse.
  • Wells Fargo (NYSE: WFC) downgraded to Underperform from Market Perform at FBR.

Jon C. Ogg
January 15, 2008

Posted on: January 15, 2008 – 7:36 am in Analyst Calls, , , , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (AKAM, GLW, DLTR, XOM, MFE, SNP, SBUX, STO, UA, WYNN)

Akamai (AKAM) started as Neutral at B of A.
Corning (GLW) started as Sector Perform at RBC.
Dollar Tree (DLTR) raised to Overweight at Lehman.
Exxon Mobil (XOM) raised to Buy at UBS.
McAfee (MFE) raised to Buy at Jefferies.
Sinopec-China Petroleum (SNP) raised to Neutral from Sell at UBS.
Starbucks (SBUX) raised to Outperform at FBR; downgraded to Sector Perform at CIBC.
Statoil (STO) raised to Buy at UBS.
Under Armour (UA) raised to Buy at UBS.
Wynn Resorts (WYNN) raised to Buy at Jefferies.

Jon C. Ogg
November 20, 2007

Posted on: November 20, 2007 – 7:47 am in Analyst Calls, , , , , , , , , ,