Chesapeake Energy Corp. (NYSE: CHK) will spin-off its wholly-owned oilfield services business into a new company to be called Chesapeake Oilfield Services Inc., which will trade on the NYSE under the stock symbol ‘COS’.…
Reserves of UK shale gas could total up to 1,000 trillion cubic feet according to the latest data from the British Geological Survey. Most of that would be offshore, in the North Sea, and…
US index futures are higher this morning following the auction of 12- and 18-month Spanish debt. Demand was good, but yields on the 12-month bill rose from about 1.42% in March to 2.6% this…
Argentina’s President Cristina Kirchner has proposed the nationalization of the country’s oil resources in a move that will cost Spain’s Respol YPF SA (OTC: REPYY) most of it’s 57% stake in YPF, the once…
Robert Murray http://www.geograph.org.uk/photo/1449653Cheniere Energy Partners LP. (AMEX: CQP) announced last night that the company has received approval from the Federal Energy Regulatory Commission (FERC) “to site, construct and operate facilities for the liquefaction and…
Markets opened lower this morning and by mid-morning equities were trading down about -1% across the board, where they have mostly remained for the rest of the day. Worries about Spain have replaced worries…
Prices for solar PV panels have continued to slide this year, dropping to $0.80-$0.85/watt, a decline of -10% on top of the the -50% drop in panel prices last year. Many of the Chinese…
Shares of Nokia Corp. (NYSE: NOK) have hit new 52-week low of $4.01 today following a downgrade from Barclays. And the hits just keep on coming. The company’s credit default swaps (CDS) have hit…
Just yesterday we noted that coal stocks were getting a nice boost based on the expectation that the stocks had just about hit bottom. One day does not a trend make, but there’s really…
The National Association of Corporate Directors (NACD) has released its Board Confidence Index for the first quarter of 2012, and the results indicate the corporate directors’ confidence in the US economic recovery has increased…
The total 2011 compensation package for Goldman Sachs Group Inc. (NYSE: GS) CEO Lloyd Blankfein was chopped by $6.7 million to $12.4 million, 35% below his 2010 total pay of $19.1 million. Under SEC…
Spain’s central bank, the Bank of Spain, reported today that the country’s banks borrowed a net average of €227.6 billion ($300 billion) from the European Central Bank (ECB) in March. The borrowing included funds…
US index futures are lower this morning mostly as a result of the lower than expected level of China’s GDP growth, which rose 8.1% in the first quarter, down sequentially from 8.9% (our coverage…
Genesee & Wyoming Inc. (NYSE: GWR) this morning released its traffic volume report for March and for the first quarter of 2012. The news is not good, but it’s also not unexpected. The company’s…
When the largest coal company in the US, Peabody Energy Corp. (NYSE: BTU) paid about $5 billion for Australia’s MacArthur Coal last year, it basically committed itself to Australia’s Bowen Basin. Then Peabody hired…
KB Home (NYSE: KBH) announced late yesterday that the company’s quarterly dividend for its second fiscal quarter ending in May will be reduced from $0.0625 to $0.025. In the announcement, the company’s CEO spelled…
Markets opened slightly higher this morning and about an hour before the markets close all three major indexes are more than 1% higher. The report on new unemployment claims was weaker than expected (our…
Hewlett Packard Co. (NYSE: HPQ) maintained its global leadership in PC sales in the first quarter of 2012, shipping more than 15 million units. The sales figures come from two reports, one from Gartner…
Coal prices are getting a nice bump today after a long slide. Peabody Energy Corp. (NYSE: BTU), Arch Coal Inc. (NYSE: ACI), Alpha Natural Resources Inc. (NYSE: ANR), Patriot Coal Co. (NYSE: PCX), James…
DryShips Inc. (NASDAQ: DRYS) has priced a secondary offering of 10 million shares for its majority-owned subsidiary Ocean Rig UDW Inc. (NASDAQ: ORIG), at $16.25, essentially equal to last night’s closing price of $16.26.…