Commodities & Metals

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James River Sells Less Coal, Posts Profit on Debt Swap

ThinkstockJames River Coal Co. (NASDAQ: JRCC) reported second-quarter 2013 results before markets opened this morning. The coal miner’s diluted earnings per share (EPS) of $1.16 on revenues of $160.15 million. In the same period…

Paul Ausick · 13 years ago

IEA Lowers Oil Demand Estimates; OPEC Stands Pat

ThinkstockThe International Energy Agency (IEA) today lowered its oil demand growth forecast from 930,000 barrels a day in 2013 to 900,000 barrels a day and cut demand growth for 2014 from its previous estimate…

Paul Ausick · 13 years ago

Molycorp Earnings Not So Rare

ThinkstockMolycorp Inc. (NYSE: MCP) reported second-quarter 2013 results after markets closed today. The rare earths miner posted an adjusted diluted loss of $0.36 per share on revenues of $136.9 million. For the second quarter…

Paul Ausick · 13 years ago

Natural Gas Inventory Inventory Pushes Down Price

thinkstockThe U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks increased by 96 billion cubic feet last week, compared with an expected build of between 74 billion and 78 billion cubic…

Paul Ausick · 13 years ago

Conoco Sheds Some Oil Sands Leases

ThinkstockConocoPhillips (NYSE: COP) plans to shed about $13.5 billion in what the company calls non-strategic assets during 2013. It got $750 million closer today. Conoco has sold all of its lease interests in 226,000…

Paul Ausick · 13 years ago

Crude Oil Stockpiles Shrink, Gasoline Prices Follow

ThinkstockThe U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories decreased by 1.3 million barrels last week, maintaining a total U.S. commercial crude inventory to 363.3…

Paul Ausick · 13 years ago

Second Lawsuit Filed in Aluminum Market Manipulation Scheme

ThinkstockFor the second time in as many weeks, key commodities companies have been slapped with lawsuits alleging that the two banks boosted aluminum prices by manipulating warehouse stockpiles. Today’s lawsuit in Florida names Glencore…

Paul Ausick · 13 years ago

SandRidge Energy Posts Earnings Surprise

ThinkstockSandRidge Energy Inc. (NYSE: SD) reported second-quarter 2013 results before markets opened this morning. The independent oil and gas company posted adjusted diluted earnings per share (EPS) of $0.08 on revenues of $512.99 million.…

Paul Ausick · 13 years ago

U.S. EPA Issues Renewable Fuel Rules

ThinkstockThe U.S. Environmental Protection Agency (EPA) today issued a final rule for the amount of renewable fuels to be added to the nation’s transportation fuel supply in 2013. Oil refiners, biofuel makers, and fuel…

Paul Ausick · 13 years ago

Cowen Says to Buy the Top Independent Refining Stocks on Weakness

ThinkstockEach of the independent refiners to report second-quarter earnings so far have shown year-over-year declines, reflective of a sluggish demand environment, rapidly compressing crude differentials and escalating renewable identification number (RIN) costs. While the…

Jon C. Ogg · 13 years ago

ADM Reaches 52-Week High After Earnings Report

ThinkstockArcher Daniels Midland Co. (NYSE: ADM) reported second-quarter 2013 earnings this morning. The agribusiness giant posted adjusted diluted earnings per share (EPS) of $0.46 on revenues of $22.54 billion. In the same period a…

Paul Ausick · 13 years ago

Athlon Energy Drills IPO Glory Hole

ThinkstockIndependent oil & gas exploration & production company Athlon Energy Inc. (NYSE: ATHL) sold approximately 15.8 million shares this morning at $20 a share in an initial public offering (IPO) that raised net proceeds…

Paul Ausick · 13 years ago

Chevron Earnings Stymied by Refining

courtesy of Chevron Corp.Chevron Corp. (NYSE: CVX) reported second-quarter 2013 results before markets opened this morning. The oil and gas supermajor posted diluted earnings per share (EPS) of $2.77 on revenues of $55 billion.…

Paul Ausick · 13 years ago

Coal Miner Alpha Natural Resources Cannot Get Untracked

ThinkstockAlpha Natural Resources Inc. (NYSE: ANR) reported second-quarter 2013 results before markets opened this morning. The coal miner posted an adjusted diluted earnings per share (EPS) loss for the quarter of $0.59 on revenues…

Paul Ausick · 13 years ago