FOMC: Let’s Twist Again?
At this week’s meeting of the Federal Open Market Committee (FOMC), there is a reasonable chance that the Fed will at least drop a strong hint that more monetary help is on the way.…
All Work
Paul Ausick
24/7 Wall St. Closing Bell — June 15, 2012 (AAPL, FDO, A, KR, ORCL, CPST, RBY, FDX, CAG, RHT, ATPG, MVIS, MSFT)
The three major US stock indexes opened slightly higher this morning as markets reacted to news of a cooperative effort by central banks to maintain liquidity in the world’s financial system (our coverage here).…
More Action in Solar Stocks (TSL, STP, GTAT, YGE, LDK, FSLR)
Shares of several of the solar PV makers are trading higher today, most likely due to today’s options expirations. Shares of Trina Solar Ltd. (NYSE: TSL) are up more than 7% as are shares…
China’s Filling Strategic Oil Reserve at Huge Cost
China imported about 6 million barrels/day of crude oil in May, up 10% over April imports. But the country did not increase its refineries inputs at all, leading some analysts to conclude that China…
IMF to Spain: You’re Screwed
The International Monetary Fund (IMF) has published its preliminary findings following its meetings with Spanish officials. The outcome is neither unexpected nor good news for Spain. First the IMF states the obvious: The economy…
Is Natural Gas Staging a Comeback? (XOM, CHK, BP, ECA, COP, DVN, EOG, APC, UPL, STR, UNG)
It has been almost exactly two years since Exxon Mobil Corp. (NYSE: XOM) completed its $31 billion merger with XTO Energy to create the largest natural gas company in the US. Exxon’s shares traded…
NY Manufacturing Index Plunges
The New York Federal Reserve Bank’s Empire State manufacturing index plummeted to a reading of 2.3 in June, down nearly 15 points from the May index reading of 17.1. The consensus estimate had called…
Ford Touts Sustainability Gains (F, GM, TM)
Automaker Ford Motor Co. (NYSE: F) today released its annual sustainability report, claiming a 22% reduction in energy used to build cars over the past 6 years and a plan to cut another 25%…
UK Trade Deficit Widens on Weak Demand for Exports
The UK’s Office of National Statistics reported today that the country’s world goods trade deficit in April grew to £10.1 billion, just shy of the record deficit of £10.2 billion posted in September 2011.…
London Metals Exchange Moving to Hong Kong (NYX, ICE, CME)
The world’s largest base metals market is moving to the Far East. The 135-year-old London Metals Exchange (LME) has agreed to be acquired by Hong Kong Exchange & Clearing (HKEx) for $2.2 billion in…
24/7 Wall St. Closing Bell — June 14, 2012 (CS, ADBE, BBY, EAT, TSLA, BP, KR, PIR, SFD, WGO, CPST, RBY, NOK, LSCC, QCOM)
The three major US stock indexes opened slightly higher this morning following the data on new US unemployment benefits claims (more coverage here) and 10-year Spanish bond yields that topped 7% (more coverage here).…
US Energy Department Invests in Some Big Names (GM, WFR, DOW, LYB, APD, DLPH, TDY)
On Tuesday the US Department of Energy announced awards to 13 projects totaling more than $54 million. According to the press release: to advance transformational technologies and materials that can help American manufacturers dramatically…
Finding a New Job is Really Hard
A worker’s chances of finding a new job after being out of work for about a year fall to just 10%. About 30% of unemployed workers will find a new job in a few…
Is Oil Refining a Zombie Industry? (DAL, PSX, VLO, MPC, TSO, HFC, WNR, CVI, CG, XOM, CVX, BP, PBR)
When Delta Air Lines Co. (NYSE: DAL) agreed to buy an oil refinery from Phillips 66 (NYSE: PSX), the transaction underscored a shift that has been taking place in refinery ownership. Pure refiners like…
Natural Gas Inventories Rise, Price Remains Flat (XOM, CHK, EOG, UNG, OIH)
The US Energy Information Administration today reported the US natural gas stocks rose by a total of 67 billion cubic feet, below the 73 billion cubic feet increase that analysts had expected. Natural gas…
Quest Software Object of Bidding War
Database software maker Quest Software Inc. (NASDAQ: QSFT) said this morning that the company had received a takeover offer of $25.50/share from an unnamed “strategic bidder.” The company had already agreed to a March…
Solar Share Buybacks Won’t Stop the Bloodletting (JASO, LDK, JKS, GTAT, FSLR, SPWR)
Chinese solar panel maker JA Solar Holdings Co. Ltd. (NASDAQ: JASO) this morning announced an ADS repurchase plan for up to $100 million by the end of September. The strangeness of this announcement nearly…
Credit Suisse, UBS Told to Shape Up by Central Bank (CS, UBS)
Shares of Credit Suisse Group (NYSE: CS) are getting hammered in the pre-market this morning following an unusually direct instruction from the Swiss National Bank (SNB) to expand the Credit Suisse’s “loss-absorbing capital.” UBS…
24/7 Wall St. Closing Bell — June 13, 2012 (JPM, AAPL, CHK, JNJ, MCD, PETM, CASY, OSH, JVA, KFY, LUB, KR, PIR, SFD, WGO, DELL, AONE, ARNA)
The three major US stock indexes opened lower this morning following European markets where equities also traded lower this morning. US data related to retail sales (our coverage here) and producer prices were somewhat…
Patriot Coal Falls Again (PCX, ACI, JRCC, ANR, BTU, WLT, CLD)
Shares of Patriot Coal Corp. (NYSE: PCX) are dropping like a rock again today on no specific news. Other coal miners are faring somewhat better, with Arch Coal Inc. (NYSE: ACI) up slightly, James…