MLPs Kick Off 2013 IPOs
ThinkstockThe first initial public offering (IPO) of the year went off yesterday as USA Compression Partners L.P. (NYSE: USAC) priced 11 million common units at $18 per unit. By the end of the day,…
All Work
Paul Ausick
Crude Oil Supply Posts Surprise Drop
ThinkstockThe U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories decreased by 1 million barrels last week, bringing the total U.S. commercial crude inventory to 360.3…
Germany Cuts 2013 GDP Forecast
ThinkstockFor further evidence that the eurozone’s infatuation with austerity is not working, look no further than today’s announcement from Germany that the largest economy in Europe will post 2013 GDP growth of just 0.4%.…
Retail Customers Embrace Online Shopping
ThinkstockRetail sales for the holiday season just behind us rose about 4.8%, compared with sales during the 2011 holiday shopping season. Online sales rose by more than 14%, and that growth is virtually certain…
BP Gas Field in Algeria Attacked
ThinkstockIslamic militants have attacked the Amenas natural gas field in southern Algeria and have taken at least eight people hostage, according to a Wall Street Journal report. The eight include British, Norwegian and Japanese…
Goldman Sachs Aims at New Yearly High on Earnings
Wikimedia CommonsGoldman Sachs Group Inc. (NYSE: GS) reported fourth-quarter and full-year 2012 results before markets opened this morning. The investment bank and financial services giant reported quarterly diluted earnings per share (EPS) of $5.60…
Mortgage Applications Rise Sharply Again
ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications this morning, noting a rise of 15.2% in the group’s seasonally adjusted composite index, following a rise of 11.7% for the previous…
Comerica Results Just Okay
ThinkstockComerica Inc. (NYSE: CMA) reported fourth-quarter and full-year 2012 results before markets opened this morning. The financial services company reported diluted earnings per share (EPS) of $0.68 on net income of $130 million. In…
24/7 Wall St. Closing Bell — January 15, 2013: Markets Open Lower, Eke Out Mixed Close (AXP, GMCR, DELL, ARMH, LOGI, ED, FRX, LEN, BK, CMA, JPM, WEN, USB, EXPR, COOL, BGFV)
U.S. equity markets opened lower this morning following an announcement from Germany that its economy had contracted by 0.5% in the fourth quarter (more coverage here). U.S. data was released on producer prices and…
Samsung Rides the Wave in Smartphone Sales
courtesy of SamsungThe latest data from 451 Research’s ChangeWave service shows that Samsung’s Galaxy III smartphone is gaining market share on the iPhone from Apple Inc. (NASDAQ: AAPL). In its December survey of “primarily…
Lack of Infrastructure Investment Threatens U.S. Economic Growth
ThinkstockThe U.S. needs to invest about $2.7 trillion dollars in the nation’s infrastructure by 2020 according to a new study from the American Society of Civil Engineers (ASCE). That total includes investment in airports,…
Walmart Turns on the Charm
courtesy of Wal-Mart Stores Inc.In an announcement at the major U.S. retail trade show, Wal-Mart Stores Inc. (NYSE: WMT) has said that it will hire at least 100,000 U.S. military service veterans in the…
Conoco Sheds Rocky Mountain Assets
ThinkstockIn another asset sale intended to streamline the company’s project portfolio, ConocoPhillips (NYSE: COP) announced that it had sold its properties in the Cedar Creek Anticline area of North Dakota and Montana to Denbury…
Home Prices Continue Rising in November: CoreLogic
ThinkstockHome prices rose 7.4% in November compared with the same month a year ago, the largest monthly increase since May 2006 according to research firm CoreLogic (NYSE: CLGX). The firm had previously forecast a…
Japan Launches Investigation into Boeing 787 Flaws
courtesy Boeing Co.Following two weeks of reports of fuel leaks and electrical problems with the 787 Dreamliner from Boeing Co. (NYSE: BA), Japan has created a team of aviation ministry and freight safety officials…
Economic Confidence Up a Little; Dissatisfaction with Government at Watergate Level — Gallup
ThinkstockIn two blasts of data issued today, Gallup reports that its economic confidence index rose from -21 to -18 for the week ending January 13 and, in a separate release, concern about the federal…
SAP Earnings Fail to Impress Investors
courtesy SAP AGSAP A.G. (NYSE: SAP) reported preliminary fourth quarter and full-year 2012 results before markets opened this morning. The enterprise software company reported adjusted quarterly operating profit of €1.96 billion on total revenues…
Delay in Raising Debt Ceiling Would Lead to Rating Review — Fitch
ThinkstockCalling into question the intention of the United States to pay its debts would lead to a formal review of U.S. sovereign debt ratings, according to Fitch Ratings. The ratings firm does say that…
Now What for RadioShack?
ThinkstockElectronics retailer RadioShack Corp. (NYSE: RSH) this morning announced that it will end its relationship with Target Corp. (NYSE: TGT) in mid-April. RadioShack operated Target Mobile kiosks in 1,500 Target stores in the United…
Forest Labs Sputters on Patent Expiration
ThinkstockForest Laboratories Inc. (NYSE: FRX) reported third-quarter fiscal 2013 results before markets opened this morning. The drug maker and marketer reported an adjusted diluted earnings per share (EPS) loss of $0.21 on total revenues…