The three major US stock indexes opened lower this morning following a weak report on Chinese and German PMI readings (our coverage here and here). New US jobless benefits claims came in…
Jon OggThese are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday morning. Accenture plc (NYSE: ACN) Raised to Hold at Soc-Gen. Allscripts Healthcare Solutions (NASDAQ: MDRX)…
The CEO of Frontline Ltd. (NYSE: FRO) told Reuters that the demand for oil tankers is unexpectedly high right now as imports to China swell. This could be good news for other…
Some of the richest men and largest shipping companies are stocking up on medium-range tankers to carry refined products from the new refining hubs in India and Asia to markets in Japan,…
The Dow Jones Transportation Average has risen just 7.7% in the past five years, and barely 3% in the past 12 months. Not exciting, that’s for sure, except for the ride to…
Crude oil futures rose sharply today on hopes that Europe can shake its economic woes now that the Greek parliament has agreed to adopt strict new austerity measures. Whether that pans out…
Equities opened a little weaker this morning, but by 10:00 a.m. markets had turned slightly positive and have remained in positive territory for the rest of the day. The gain has not…
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Frontline Ltd. (NYSE: FRO), Orbitz Worldwide, Inc. (NYSE: OWW),…
Railroads and trucking companies have, for the most part, seen share prices rise over the past 12 months, while ocean-going shippers have taken a severe beating. Of four railroads, CSX Corp. (NYSE:…
Stocks opened a bit lower this morning, but almost immediately turned around without being able to break through the opening numbers. Revised third-quarter US GDP numbers were worse than expected, falling to…
Shares of Frontline Ltd (NYSE: FRO) fell 40% to $3.05, against a 52-week high of $28.14. The drop was blamed on “significant uncertainties linked to Frontline’s sustainability in the present form”, according…
Douglas A. McIntyre An over-supply of product leading to a steep drop in price has claimed another victim. No, this is not a story about a solar PV maker, but about shipping, where ships that…
Markets opened higher today, and after some backsliding in the mid-morning, pulled ahead again by mid-afternoon. Crude oil closed up more than 2% at $97.78/barrel and gold was down by about -1.8%,…
Transportation stocks get a lot more attention as economic bellwethers than they do as market participants. Railroads, ships, and trucks are not particularly glamorous, and the industries are so entrenched that they…
2011 has been an incredibly choppy year, the economy is flirting between snail-paced growth and recession, and many companies and entire sectors are experiencing some severe business pressures or their management teams…
