Crude Oil on Five-Day Losing Streak
WTI crude oil fell for a fifth straight day today, closing down -1% at $97.01. The price of crude futures fell as low as $95.52 at one point during the day. Tomorrow could be…
All Work
Paul Ausick
24/7 Wall St. Closing Bell (F, WYNN, COF, BP, SYNC, CHTR, HL, OMX, THC, WEN, RST, PDC, AOL, CTL, AGU, DTG, M, MPEL, NWS, CSCO, TSLA, TM, PCLN, FOSL, DNDN, AVL)
The major US stock indexes opened sharply lower this morning as weak performance in the European markets as traders try to figure out what last weekend’s elections mean. Crude oil was also sharply lower…
US Average Gasoline Price Forecast Lowered
The US Energy Information Administration (EIA) released its updated Short-Term Energy Outlook today, and the good news for drivers is that the forecast for gasoline prices for the Spring and Summer has been lowered…
First Solar Sinks to Another New Low (FSLR, SPWR, YGE)
Shares of First Solar Inc. (NASDAQ: FSLR) just can’t seem to find a bottom. The only thing to say about this is that maybe today’s the day. Yet the company’s singular story is part…
Cable Companies’ Future is Online (CHTR, CMCSA, TWC, DIS, VZ, T, PCS, LEAP, FTR, NFLX, AAPL)
The line between mobile wireless carriers and cable and satellite TV providers has been blurring for a couple of years and may be on the way to disappearing entirely before too long. The short…
Pitney Bowes Posts New Low on Lack of Demand (PBI, XRX, HPQ)
Business equipment firm Pitney Bowes Inc. (NYSE: PBI) reported first quarter earnings after markets closed last night, and while the company slightly exceeded expectations for adjust EPS and revenues, the stock is sinking today…
Lowered Forecast Hammers D&B (DNB, EFX, FICO, MCO, MHP)
Dun & Bradstreet Corp. (NYSE: DNB), one of the venerable names in business and credit data, is taking some lumps this morning following lowered fiscal year forecast and the closure of one of the…
Rail Car Maker Doubles EPS Estimate (RAIL, ARII, GBX, CSX, UNP, CP)
The past year has not been particularly kind to rail car makers. That may be changing, with FreightCar America Inc.’s (NASDAQ: RAIL) first quarter earnings report out this morning. Despite lower rail traffic due…
Fossil Shares Plunge on Lower Outlook (FOSL, GES, MOV)
Fashion accessories maker Fossil Inc. (NASDAQ: FOSL) reported first quarter earnings this morning, and delivered more bad news than good. Investors are responding by fleeing the stock. The company, which competes with other accessories…
No Beef in Wendy’s Results (WEN, MCD, YUM, CMG, JACK)
The Wendy’s Co. (NASDAQ: WEN) reported first quarter earnings this morning and managed to post another profit — barely. The company reported adjusted EPS of $0.01 versus a consensus estimate of $0.03. Revenue totaled…
Iran Trades Oil for Yuan, Rupees, and Junk
One way that Iran has found to combat the tightening international sanctions on its crude oil sales is to accept payment in something other than US dollars. The Iranians have been selling oil to…
24/7 Wall St. Closing Bell (FSLR, PEP, PG, ILMN, CCL, ANV, AWR, BBEP, CDE, DISH, LPX, TSN, HFC, CHTR, DMD, HL, OMX, THC, WEN, DIS, VRTX, CTSH, BSFT)
The major US stock indexes opened lower this morning following a weekend of elections in Europe. A new Socialist party president in France and a still very cloudy future in Greece have left investors…
IMF Chief Calls Austerity v. Stimulus “False Debate”
The managing director of the International Monetary Fund, Christine Lagarde, in a speech today said that the two prevailing views of how to repair the faltering global economy is neither to adopt a policy…
Third Point Lowers the Boom on Yahoo (YHOO, EBAY)
As promised, Daniel Loeb and his firm, Third Point LLC, have today sent a letter to Yahoo! Inc. (NASDAQ: YHOO) demanding that the Internet firm open its books and records related to the hiring…
Frontier Communications Hits New Low (FTR, PCS, LEAP, VZ, VOD, T, S, DTEGY, AAPL, CTL)
Frontier Communications Corp. (NASDAQ: FTR) missed its consensus first quarter EPS estimate this morning and the company’s shares are getting pummeled. The miss was close: EPS of $0.05, a penny below the consensus estimate.…
Icahn Prevails on Bid for CVR Energy (IEP, CVI, UAN, DAL)
As recently as last week it appeared that Carl Icahn’s Icahn Enterprises L.P. (NASDAQ: IEP) may not receive enough shares to complete his takeover of CVR Energy Inc. (NYSE: CVI). Those doubts were put…
Treasury Sale of AIG Shares Hammers Share Price (AIG)
At one time US taxpayers owned more than 90% of American International Group Inc. (NYSE: AIG). Today taxpayers own about 63% of the insurance giant, following AIG’s purchase of about 65 million shares from…
As Crude Prices Fall, Are Refiners Going to Benefit? (HFC, WNR, VLO, TSO, MPC, PSX, SUN)
As of about 9:30 this morning, Brent crude is trading at its lowest price in three months, and the price differential between Brent and WTI crude closed to about $12/barrel last week before widening…
Avis Earnings Hit Revised Forecast, Investors Still Cautious (CAR, HTZ, DTG)
Last week Avis Budget Group Inc. (NASDAQ: CAR) raised its first quarter adjusted EPS estimate from a loss of -$0.19 to a gain of $0.13. Apparently no one believed the company because the consensus…
Another Airbus Contract Cancelled (EADSY, BA)
The problem of small cracks in the wings of the Airbus A380 have been well-publicized and led to the company being named to our list of the nine most damaged brands in the US.…