Natural Gas Royalty Payments Hit $21 Billion
thinkstockBack in the days when billionaires were scarce on the ground, one of the bona fide big wheels was oilman J. Paul Getty, who offered this advice on getting rich: “Work hard and strike…
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Paul Ausick
24/7 Wall St. Closing Bell — January 25, 2013: Markets Open Higher, S&P Closes Over 1,500 (JNS, AMZN, AMGN, AAPL, EBAY, T, JNPR, MSFT, SBUX, HAL, HON, KMB, WY, CAT, ROP, SIFY, BIIB, NFLX, BFAM, SCSS)
U.S. equity markets opened higher this morning before dipping following the report on new home sales in the U.S. Stocks regained positive momentum during most of the remaining session. In Europe, Germany’s Ifo Institute’s…
Exxon Tops Apple in Market Cap Battle
Wikimedia CommonsShortly after noon today, oil & gas supermajor Exxon Mobil Corp. (NYSE: XOM) re-captured its position as the most valuable company in the world. Exxon’s market cap now totals $416.54 billion. Apple Inc.…
AT&T Pays $1.9 Billion to Verizon for More Spectrum
ThinkstockAT&T Inc. (NYSE: T) announced this morning that it is acquiring wireless spectrum in the 700 MHz B band from Verizon Wireless for $1.9 billion. The spectrum covers 42 million people in 18 states,…
Bright Horizons IPO Goes Out Big
24/7 Wall St. StaffA firm that provides employer-sponsored childcare and other family services held its initial public offering (IPO) this morning, with shares priced above the expected range of $19 to $21. Bright Horizons…
New Home Sales Slip in December, but Up for the Year
ThinkstockThe U.S. Census Bureau this morning released data on new single-family home sales for December. Sales fell 7.3% to a seasonally adjusted annual rate of 369,000 from a revised November sales figure of 398,000.…
SandRidge Board Denies Investors’ Claims
ThinkstockBack in November, hedge fund TPG-Axon Capital sent a letter to the board of directors of SandRidge Energy Inc. (NYSE: SD) challenging the company’s strategy and management. TPG-Axon owns about 6.7% of SandRidge. Investment…
P&G Tops Estimates, Set for New High
Courtesy The Procter & Gamble Co.The Procter & Gamble Co. (NYSE: PG) reported second-quarter fiscal 2013 results before markets opened this morning. The consumer products maker posted adjusted diluted earnings per share (EPS) of…
New 52-Week High Follows Honeywell Earnings Report
ThinkstockHoneywell International Inc. (NYSE: HON) reported fourth-quarter and full-year 2012 results before markets opened this morning. For the quarter, the conglomerate posted adjusted diluted earnings per share (EPS) of $1.10 on revenues of $9.58…
Halliburton Earnings Look Better Than They Are
ThinkstockHalliburton Co. (NYSE: HAL) reported fourth-quarter and full-year 2012 results before markets opened this morning. For the quarter, the oil and gas services company posted adjusted diluted earnings per share (EPS) of $0.72 on…
Apple Shares Slashed at Goldman
courtesy of Apple Inc.After a dismal day on the markets, Apple Inc. (NASDAQ: AAPL) took another slap early this morning. Analysts at Goldman Sachs have cut their estimate 12-month price target for the maker…
Starbucks Earnings In Line, Outlook Doesn’t Impress
courtesy of StarbucksStarbucks Corp. (NASDAQ: SBUX) reported fiscal 2013 first quarter results after markets closed today. For the quarter, the coffee roaster and restaurant company posted diluted earnings per share (EPS) of $0.57 on…
24/7 Wall St. Closing Bell — January 24, 2013: Markets Mixed After Apple Earnings (AAPL, PG, EMR, CVS, GOLD, TIF, AMGN, SNDK, FFIV, NE, NVR, WDC, MMM, BMY, LMT, RTN, LUV, UNP, UAL, XRX, T, JNPR, MSFT, SBUX, HAL, HON, KMB, WY, NOK, NFLX, SWFT)
U.S. equity markets opened mixed this morning with the DJIA and the S&P 500 higher, and the Nasdaq lower, dragged down by concern over the earnings of Apple Inc. (NASDAQ: AAPL) (more coverage here).…
Beef: Prices Rising or Falling?
ThinkstockLast week privately held Cargill Inc. announced that it would close its beef processing plant in Plainview, Texas, due to a drop in the number of cattle available as a result of the continuing…
Cliffs Takes Charge on 2011 Acquisition
ThinkstockIron ore miner Cliffs Natural Resources Inc. (NYSE: CLF) said this morning that it would take a $1.4 billion non-cash impairment charge related to several of its mining operations in Canada. The largest piece…
Lenovo Eyeing Research In Motion?
courtesy of BlackberrySmartphone maker Research In Motion Ltd. (NASDAQ: RIMM) put up another 52-week high today, surely due to the weakness investors are currently heaping on Apple Inc. (NASDAQ: AAPL). Shares are getting an…
Crude Oil Supply Rises, Prices Follow
ThinkstockThe U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories increased by 2.8 million barrels last week, bringing the total U.S. commercial crude inventory to 363.1…
Google Experiments with a Clearwire-Based Network
courtesy of Google Inc.Google Inc. (NASDAQ: GOOG) has filed an application with the Federal Communications Commission (FCC) asking for a two-year license to create an “experimental radio service” at the company’s campus in Mountain…
U.S. PMI at 10-Month High
ThinkstockResearch firm Markit Economics reported that the flash U.S. purchasing manager’s index (PMI) rose from 54 in December to 56.1 in January, the highest index reading since last March. This is a preliminary reading…
Starwood Acquires Distressed Real Estate Firm
ThinkstockCommercial real-estate firm Starwood Property Trust Inc. (NYSE: STWD) and private equity firm Starwood Capital Group, which are both controlled by Barry Sternlicht, have agreed to pay $1.05 billion for privately held LNR Property…