Plains Gains On Acquisitions (PAA)
We’ve said before that the way pipeline companies grow is by building or buying more pipelines. In its earnings report for the fourth quarter, Plains All American Pipeline LP (NYSE: PAA) proves the point.…
Energy
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Newest first · Page 464Anadarko Sets Capital Budget, Guidance for 2009 (APC)
Anadarko Petroleum Corp. (NYSE:APC) announced a capital spending budget of $4 billion to $4.5 billion for 2009. The company spent about $4.9 billion in 2008 and $4 billion in 2007.
Hopes Rise with Baltic Dry Index (BHP, MT)
The Baltic Dry Index is rising from a low in December 2008 of about 660 (essentially zero) to about 1800 (only a little better) now, and the rise is producing a glimmer of hope…
Yingli, A Solar Gainer (YGE, FSLR, SPWRA)
Chinese solar panel maker Yingli Green Energy Holding Company Ltd. (NYSE:YGE) reported earnings of $14.7 million (EPS of $0.12) for the fourth quarter this morning. Analysts had been expecting EPS of $0.07, so this…
Valero’s Ethanol Dreams Via VeraSun Refineries (VLO, VSE)
Valero Energy Corp. (NYSE:VLO) has submitted a “stalking horse” bid for six properties offered by VeraSun Energy Corp. (formerly NYSE:VSE) as part of VeraSun’s bankruptcy sale. All told the six plants have a capacity…
Solar Power Maker Not So Bright (ENER, SPWRA, FSLR)
Energy Conversion Devices, Inc. (NASDAQ:ENER) reported its second quarter earnings before the market opened this morning. The company has net income of $14.2 million (EPS of $0.33) on revenue of $103.1 million. Analysts had…
Barclays Initiates Solar Power Stocks (YGE, SOLF, CSUN, LDK, SOL, TSL)
Barclays Capital initiated coverage of several stocks in the solar energy sector this morning. Most of these ratings are cautious, although there was at least one positive call in the solar sector. Yingli Green…
OPEC’s Final Humilation
The price of crude oil has refused to rise even though OPEC has lowered production and threatened to further reduce exports. The September decrease of two million barrels a day was followed by a…
Evergreen… or Nevergreen (ESLR)
The sun is not shining on solar stocks these days. Evergreen Solar Inc. (NASDAQ:ESLR) reported a fourth-quarter net loss of $52.1 million (EPS of -$0.32) on revenue of $44.2 million. Analysts had expected an…
Pipeline Company Predicts Weaker 2009 (OKE, OKS)
ONEOK, Inc. (NYSE:OKE) and its pipeline partnership ONEOK Partners, L.P. (NYSE:OKS) have issued guidance for 2008 and 2009. ONEOK has affirmed 2008 EPS "at the low end" of the $2.95-$3.05 range it had previously…
Constellation Energy Exits North American Gas Trading Business (CEG, GS)
In its seemingly never-ending quest to raise cash, Constellation Energy Group, Inc. (NYSE:CEG) has sold its downstream natural gas trading business to the North American trading arm of Australia’s Macquarie Group. Financial details of…
Allis-Chalmers… Too Little, Too Late? (ALY)
We noted this morning that Allis-Chalmers Energy Inc. (NYSE:ALY) had been downgraded and that the oil field services sector as a whole faced a more general turn south from at least S&P with warnings…
Diamond Offshore Misses (DO, RIG)
Diamond Offshore Drilling, Inc. (NYSE:DO) reported fourth quarter EPS of $2.11 on revenue of $903.2 million. Analysts had been expecting EPS of $2.34 on revenue of $912.42 million. For the full year, Diamond earned…
A Chance For Big Oil To Become A Hero
As John David Rockefeller discovered at the end of the 19th Century, there is not much money in refining crude if the supply is not abundant. The US has been a net importer of…
Anadarko Hits Pay Dirt Again (APC, DVN, XOM)
Anadarko Petroleum Company (NYSE:APC) announced another significant Gulf of Mexico discovery this morning. The new discovery offers 300 feet of net oil pay, in addition to Anadarko’s other Gulf of Mexico find announced a…