These are some of the top pre-market downgrades and cautious calls we have seen from Wall Street analysts this Wednesday morning: Amylin Pharmaceuticals (AMLN) Cut to Sell at Canaccord Adams. Biogen Idec…
The Canadian government is reported to have offered financial support to the Mackenzie Valley gas pipeline project. Imperial Oil, a wholly-owned subsidiary of Exxon Mobil Corporation (NYSE:XOM), leads the project, which includes…
Yesterday’s story about Venezuela opening the bidding for its oil resources raised an interesting question. What are the chances that Exxon Mobil Corporation (NYSE:XOM), with nearly $40 billion in cash at the…
Judged by the country’s performance in extracting hydrocarbons, Venezuela under President Hugo Chavez has not been a smashing success. Ten years ago, when Chavez first came to power, the country produced about…
For the latest reported period, ending December 31, short sellers did not make any notable moves in or out of tech, financials, or industrial shares. What they did do was take impressively…
According to Reuters, Citigroup (C) is near a deal to form a venture putting its brokerage business together with the one at Morgan Stanley (MS) Citi would be paid about $2 billion.…
Chevron Corporation (NYSE:CVX) already gave its severe earnings warning and we have already seen layoffs coming out of Schlumberger Limited (NYSE: SLB). and its dragging down share prices for the other oil…
If you have somehow managed to be out since last summer when the oil boom was still in full-speed, there is one issue you would not have guessed was coming this quick:…
Last summer, a gallon of gas cost over $4. Now the prices has dropped below two bucks and is still falling. The sharp drop in crude oil is to blame. Intuition would…
A Bloomberg review of the S&P 500 stocks shows that the fourth quarter of 2008 will probably be the sixth quarter of declining earnings. According to the news service, "Fourth-quarter profit at…
Flying J Oil, Inc., a privately-held oil company headquartered in Ogden, Utah, filed for bankruptcy protection under Chapter 11 on December 22nd. The company owns and operates more than 250 retail outlets…
Falling crude oil prices have hit Russia particularly hard. The country needs a crude price of about $70/b to cover production costs and to fund the government. So, what do they do…
Energy stocks have taken a pounding since crude oil prices started falling in July. In virtually every part of the energy business, share prices for the premiere companies are off by as…
It’s no longer news when an oil E&P company cuts its capex budget. As oil prices fall, profits are squeezed and companies rein in discretionary spending, of which capex is a principle…
When everyone else is ducking for cover, it often pays to stick your neck out. That seems to be what Fluor Corporation (NYSE:FLR) is doing with the announcement of a new business…
