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☆ A big win for Wells Fargo — plus what's dragging down Google parent Alphabet
▼ + stars: | 2024-02-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

One more down: Shares of Wells Fargo hit a new 52-week high after the Office of the Comptroller of the Currency terminated a 2016 consent order linked to its sales practices. This is the sixth consent order that regulators have terminated since 2019. Every consent order that is resolved brings the bank closer to having the Federal Reserve lift the asset cap that's been holding it back since February 2018. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Linde, Wells Fargo, Charlie Scharf, there's, GOOGL, It's, Jim Cramer's, Jim, Krisztian Bocsi Organizations: CNBC, Air Products, Chemicals, Bank of America, Energy, Cisco Systems, Wells, Currency, Federal Reserve, Microsoft, Google, Materials, University of Michigan, PPI, Jim Cramer's Charitable, Shell Plc, BASF, Linde AG, Bloomberg, Getty Locations: We're, Bank, Wells, Coinbase, Leuna, Germany

☆ Why these industrial giants are betting on the transition to clean energy
▼ + stars: | 2023-11-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

"Right now, some of our favorite secular themes are the mega trends benefitting from a wave of federal spending — and the energy transition is one of those themes," he explained. CAT YTD mountain Caterpillar (CAT) year-to-date performance Elsewhere, Caterpillar has said the "energy transition and growing global energy demand are increasing [it's] total addressable market and furthering opportunities for long-term profitable growth." In terms of the energy transition, the company's aerospace business could see a boost from its development of sustainable aviation fuels. CEO Vimal Kapur last month said the industrials giant is "beginning to feel the urgency behind [the] energy transition." "Honeywell is in a unique position to both help the world meet today's growing energy needs, while also enabling the energy transition," Kapur said.

Persons: we're, Jeff Marks, Linde, Wall, I'm, Jim Cramer, Vimal Kapur, Kapur, Jim Cramer's, Jim, Krisztian Bocsi Organizations: Linde, LIN, Honeywell, Caterpillar, Investing, ExxonMobil, Exxon, BMO Capital Markets, Bank of America, CAT, CNBC, Linde AG, Treatment, Berlin, Bloomberg, Getty Locations: U.S, Berlin, Germany

The deal builds out Exxon's plan to develop an emerging market that makes money from reducing its own and others' greenhouse gases. Carbon sequestration is the favored strategy for U.S. oil and gas companies to reduce emissions while continuing to expand oil and gas production. Last year, Exxon struck its first commercial carbon storage deal with top ammonia maker CF Industries. The Denbury deal "reflects our determination to profitably grow our low carbon solutions business," Exxon CEO Darren Woods said in a statement. The all-stock transaction represents a 1.9% premium to Denbury's Tuesday close at 0.84 Exxon shares for each Denbury share.

Persons: Raymond James, Pavel Molchanov, Denbury, Darren Woods, Sabrina Valle, Arathy, Arunima Kumar, Savio D'Souza, Shilpi Majumdar, Conor Humphries Organizations: Denbury, Exxon Mobil Corp, Denbury Inc, Exxon, Linde AG, CF Industries, Carbon Solutions, Thomson Locations: HOUSTON, Plano , Texas, U.S, Texas, Alabama, Houston, Bengaluru

☆ Brent oil lower amid stronger dollar, caution ahead of Fed minutes
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: +2 min

The Brent crude benchmark opened slightly lower on Tuesday as the U.S. dollar strengthened and traders waited for cues from the U.S. Federal Reserve meeting minutes, after optimism over demand amid tightening supplies drove prices higher on Monday. Brent crude was down 59 cents, or 0.5%, at $83.57 a barrel on Tuesday. U.S. West Texas Intermediate crude (WTI) for March, which expires on Tuesday, was up 78 cents, or 1.02%, at $77.12 at 0146 GMT. "The U.S. dollar strengthened and pressed on the oil price in the Asian session today, causing a pullback in the oil markets from yesterday's rebound," said Tina Teng, an analyst at CMC Markets. Russia plans to cut oil production by 500,000 barrels per day, equating to about 5% of its output, in March after the West imposed price caps on Russian oil and oil products.

☆ Oil dips, but hovers near 2023 highs on China demand optimism
▼ + stars: | 2023-01-16 | by ( ) www.cnbc.com time to read: +2 min

Oil prices dipped in early Asian trade on Monday, but held close to the highest levels since the start of the year on optimism that China's reopening will lift fuel demand at the world's top crude importer. Both contracts rose more than 8% last week, the biggest weekly gain since October, after China's crude imports rose 4% year-on-year in December while Lunar New Year travel brightens the outlook for transportation fuels. Traffic levels in China are continuing to rebound from record low levels following the easing of COVID-19 restrictions, resulting in stronger demand for crude and oil products, ANZ analysts said in a note. "While there is still plenty of optimism around Chinese demand, in the near term the oil market remains relatively well supplied," ING analysts said in a note. Investors will also be watching for a key Bank of Japan (BOJ) meeting this week to determine if it would defend its super-sized stimulus policy.

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