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Final Trades: Electronic Arts, Chevron, Adobe and Flex LNG
  + stars: | 2024-06-20 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Electronic Arts, Chevron, Adobe and Flex LNGThe Investment Committee share their top stocks to watch for the second half.
Organizations: Electronic Arts, Chevron, Adobe, Flex, Investment
The second half of the year is around the corner, and some stocks are primed to outperform, according to a screen of Wall Street analysts' favorite picks. The following names have 20% or more upside to their analyst price targets and are already in the green for 2024 — indicating their price targets are elevated not just due to a drop in share price. To note, the price targets are 12-month estimates. Out of the four analysts covering the stock, three rate it a buy or a strong buy. Around three-quarters of analysts covering the stock have a strong buy or buy rating.
Persons: Goldman Sachs, Warren Buffet's Berkshire Hathaway, Guggenheim, Hess Organizations: Street, Nvidia, ISI, Citi, CNBC Pro, CNBC, Argus, Disney, Coterra, UBS, Chevron, Exxon Mobil Locations: Warren, Chevron, Guyana
This is good news for mortgage rates, but we'll need to see more data showing that inflation is sustainably coming down before rates can fall further. As inflation slows and the Fed is able to start lowering the federal funds rate, mortgage rates are expected to go down. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.
Persons: Fannie Mae Organizations: of Labor Statistics, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron
Over the past several years, dozens of cities and states have sued big oil companies, seeking to hold the producers of fossil fuels accountable for their role in causing climate change. But this week, a closely watched case out of Hawaii took what could be a pivotal step toward the Supreme Court and have a cascading effect on the legal fight to hold fossil fuel companies accountable. The case was brought by the city of Honolulu against Sunoco and other big oil companies in 2020. Last year, the Hawaii state supreme court ruled the case could go to trial. But a coalition of energy firms, including ExxonMobil and Chevron, appealed that decision, asking the U.S. Supreme Court to stop the case from moving forward.
Organizations: Exxon, Chevron, Supreme, ExxonMobil, U.S Locations: Hawaii, Honolulu, Sunoco
The public comment period for the Treasury Department's rule formalizing the 1% tax on buybacks closed Tuesday. That means some of the largest companies in America may soon be getting a tax bill. The goal seems to be to discourage corporate America from buying back stock and instead invest more in hiring people and making capital expenditures. "We have a good shot at beating that old record this year," Silverblatt from S & P Global tells me. Higher growth means companies will be more willing to invest in hiring more people and making capital expenditures.
Persons: Joe Biden, Howard Silverblatt, Silverblatt, Biden Organizations: Treasury, Apple, Microsoft, Exxon Mobil, Wells, Chevron, & $ Locations: America
New York CNN —Meme stock mania is back. Meme stocks saw a resurgence last month after Keith Gill, an investor who helped stoke the meme stock frenzy in 2021, made his first post on X in three years. For many traders who experienced the original meme stock craze, the phenomenon has prompted a wave of deja vu. Still, there are key differences between the reignited 2024 meme stock craze and the original in 2021. While GameStop shares have surged in recent weeks, it is still down 65% from its record high closing price in 2021.
Persons: Keith Gill, ” Gill, Gill, , that’s, Craig Sarembock, , Joe Biden, Donald Trump, Trump, Biden, Samantha Delouya, That’s, Elon Musk, OpenAI, Hanna Ziady, ” Musk, Apple Organizations: CNN Business, Bell, New York CNN, stoke, GameStop, CNN, Federal Reserve, Bartlett Wealth Management, Global, ExxonMobil, Chevron, ConocoPhillips, EOG Resources, Schlumberger, Apple, SpaceX, Bluetooth, OpenAI, Developers Locations: New York, United States, OpenAI
CNN —Nearly four years ago, while campaigning in the runup to the last presidential election, Donald Trump warned that President Joe Biden would “destroy” the oil industry. In the last three and a half years, US oil production — and oil and gas company profits — have broken records. That’s a 160% jump compared to the first three years of the pro-big-oil Trump administration, according to calculations by CNN. However, in March, the Biden administration approved ConocoPhillips’ massive Willow oil drilling project on Alaska’s North Slope, which holds around 600 million barrels of oil, angering climate advocates. Despite his mixed record with oil and gas companies, though, Biden has presided over a historic run for the industry, Kloza said.
Persons: Donald Trump, Joe Biden, Trump, Biden, That’s, , Tom Kloza, , Hess, Chevron’s, Abdullah Hasan, Darren Woods, Mike Wirth, Woods, Obama, Bob McNally, Kloza, ” Kloza, “ It’s Organizations: CNN, Global, ExxonMobil, Chevron, ConocoPhillips, Resources, Schlumberger, Oil Price Information Service, US Energy Information Administration, Oil, Natural Resources, Exxon, White, Shareholders, Microsoft, Apple, The Washington Post, Keystone XL, Rapidan Energy Group, Republican Locations: United States, Ukraine, Boon, dealmaking, The
There's a growing dominance of technology stocks in the stock market. Using LSEG, we searched for stocks outside the concentrated tech universe that are expected to reach new highs. Citizens Financial has a forward P/E ratio of 12.1 and five-year P/E of about 15, while Fifth Third's forward P/E is 11.1 and its five-year slightly lower, at about 10.8. Analysts polled by LSEG think shares have about 18% upside potential, and the stock also has an attractive forward P/E ratio of about 4.77, by far the least of the group. Other attractive stocks that could reach new highs include homebuilder Pultegroup and insurance company Allstate .
Persons: Stocks, Dow, Ryan Grabinski, Kevin Holt, Wolfe, Bill Carache, Carache, General Motors, LSEG Organizations: Nasdaq, Nvidia, Microsoft, Apple, Strategas Securities, CNBC, Oil, Chevron, Exxon Mobil, Invesco Energy, Exxon, ConocoPhillips, Marathon, Citizens Financial Group, Fifth Third Bancorp, Financial, Fifth, Wolfe Research, Automotive, General, Allstate Locations: Guyana, Chevron
Saudi Arabia is set to raise more than $11.2 billion from its secondary public share offering in state-controlled oil giant Aramco, after the stock was priced at the lower end of its expected range. The company on Friday said it will price the 1.545 billion of shares on offer at 27.25 Saudi riyal ($7.27) apiece, with the sale expected to take place when markets next open on Sunday. A range of between 26.70 and 29 Saudi riyals per share was floated in the firm's initial marketing. The 27.25 Saudi riyal price is nearly 4% below the public stock's last settlement on the Tadāwul Saudi stock exchange. Investors typically expect a discounted price when new shares enter the public market, because of the increase in the overall supply of stock available to trade.
Persons: Prince, Mohammed bin Salman Organizations: Saudi, Investors, of, Petroleum, Reuters, CNBC, Aramco, Exxon Mobil, Chevron, Aramco's, Public Investment Fund Locations: Saudi Arabia, Aramco, Saudi, Neom
Dear Tripped Up,Last October, my extended family spent a week in Todos Santos, in Mexico’s Baja California peninsula, for a wedding. Nothing else unusual happened that day, and reviews on Google for this gas station contain eerily similar accusations of fraudulent charges from other tourists. I disputed the charge, but Wells Fargo repeatedly denied my claim, even when I asked the Better Business Bureau to intercede. Dear Nate,We cannot be sure the fraud occurred at the gas station, but if so, it’s a clever scam. Humor me while I consider the situation from the perspective of a bank like Wells Fargo.
Persons: Wells Fargo, Nate, we’re Organizations: Google, Better, Bureau Locations: Todos Santos, Mexico’s Baja California, United States, San José del Cabo, Mexico City, Chevron, Wayland, Mass, Wells Fargo
Former President Donald Trump will attend a private meeting with one of the most powerful business lobbying groups in Washington as he tries to craft an alliance with major corporate leaders. Joshua Bolten, the CEO of the Business Roundtable, confirmed in an email to members on Wednesday that Trump will be at the group's plenary meeting in Washington on June 13. The business group instead asked White House chief of staff Jeff Zients to come, according to Bolten's email. The Business Roundtable did not return requests for comment. Other members include JPMorgan Chase CEO Jamie Dimon, Carlyle Group CEO Harvey Schwartz, AT&T CEO John Stankey and Chevron CEO Mike Wirth.
Persons: Donald Trump, Joshua Bolten, Joe Biden, White, Jeff Zients, Zients, Biden, Bolten, Trump, Steve Schwarzman, Jamie Dimon, Harvey Schwartz, John Stankey, Mike Wirth, Chuck Robbins, Susie Wiles, Trump's, Paul Singer Organizations: Republican, Trump, Business, Blackstone, JPMorgan Chase, Carlyle Group, Chevron, Cisco Locations: New York City, Washington, New York, Charlottesville , Virginia, Florida
Check out the companies making headlines in midday trading: Bath & Body Works — Shares of Bath & Body Works sank nearly 13% and headed for their worst day since 2021. Bath & Body Works expects earnings to range between 31 cents and 36 cents a share, behind a FactSet estimate of 38 cents in earnings per share. Saia — The freight company popped 6.7% after it posted higher less-than-truckload shipments per workday for April and May compared to a year earlier. Shares of BP and Exxon Mobil fell around 2.3% and 1.6%, respectively, while Diamondback Energy and Chevron shares fell nearly 1%. Stanley Black & Decker — The industrials stock fell about 3.7% after Barclays downgraded the stock to equal weight from overweight.
Persons: Keith Gill, Goldman Sachs, TZE, Goldman, Stanley Black, Decker, Julian Mitchell, Oppenheimer, Jed Kelly, , Samantha Subin, Michelle Fox, Yun Li, Pia Singh, Lisa Han Organizations: Body, O Cruises, Carnival Cruise, GameStop, Street, Trade, Dominion Freight, Technologies, Energy, BP, Exxon Mobil, Diamondback Energy, Chevron, Barclays
CNN —The Supreme Court is turning toward the final, frenzied weeks of its term, readying potential blockbuster decisions on abortion, guns and former President Donald Trump’s claims of absolute immunity. Trump claims ‘absolute’ immunityTrump’s appeal for immunity from special counsel Jack Smith’s election subversion charges landed at the Supreme Court late in the term and instantly overshadowed most of the docket. The Supreme Court then put that ruling on hold last year, maintaining the status quo while it decided the case. Government regulation of FacebookThe Supreme Court is confronting a series of cases at the intersection of the First Amendment and social media. The Republican governors who signed the laws said they were needed to keep the social media platforms from discriminating against conservatives.
Persons: Donald Trump’s, , Roe, Samuel Alito, Trump, Jack Smith’s, Biden, Wade, Matthew Kacsmaryk, Kacsmaryk, Joseph Fischer, , Joe Biden’s, Zackey Rahimi, Bruen, Moody, Washington, Raimondo Organizations: CNN, Wade, Conservative, Supreme, White, Trump ., Food and Drug Administration, FDA, Alliance for Hippocratic, US, Pennsylvania, Capitol, Trump, Prosecutors, New York, Rahimi, Facebook, Florida, Biden, Republican, Atlantic, of Commerce, Chevron, Natural Resources Defense, Conservatives, Bright Enterprises, . Department of Commerce Locations: Virginia, New Jersey, Washington, Idaho, Moyle v, Amarillo , Texas, , Texas, New, Louisiana, Florida, Atlanta, New Orleans, Paxton, – Missouri, . Missouri
Mortgage rates are up slightly after initially trending a bit lower over the past few weeks. "Following several weeks of decline, mortgage rates changed course this week," Sam Khater, Freddie Mac's chief economist, said in a press release. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.36%, a 12-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.
Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, it's Organizations: Federal Reserve, Zillow Locations: Chevron
Mortgage rates have been holding relatively steady this month, though 30-year mortgage rates inched up slightly this week. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.36% this week, according to Freddie Mac data, which is a 12-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.
Persons: Lawrence Yun, Freddie Mac Organizations: National Association of Realtors, NAR, Zillow, Federal Reserve, Fed Locations: Chevron
CNN —After months of otherworldly form, Nelly Korda proved she is human after all following a horrific start to the 79th US Women’s Open on Thursday. “I just didn’t really want to shoot 80, and I just kept making bogeys,” Korda told reporters. 30 Saso is chasing her second US Women’s Open title after playoff triumph at The Olympic Club in San Francisco, California, in 2021. There’s so much golf left,” Saso told reporters. Friday’s second round is set to begin at 6:45 a.m.
Persons: Nelly Korda, Yuka Saso, Korda –, , ” Korda, , birdies, Korda, Matt Slocum, Andrea Lee, Thailand’s Wichanee Meechai, Adela Cernousek, ” Saso, I’ve, Saso, Matt Rourke, Rose Zhang, Friday’s Organizations: CNN, Pennsylvania’s Lancaster Country Club, Chevron, AP, Olympic Club Locations: Pennsylvania’s, San Francisco , California
Exxon and Chevron are the fund's top two holdings , representing 9.73% and 9.27% of total assets in FSTEX as of April 30. Exxon vs. Chevron Chevron came into the year facing production issues in the Permian Basin and cost overruns at its Tengiz project in Kazakhstan that frustrated investors, Holt said. And investors have taken notice of Exxon's lead position in the lucrative offshore oil development in Guyana. Chevron would look very attractive if the Hess deal closes due to the latter's large stake in Guyana, he said. "There's a little concern that if Chevron doesn't do the Hess deal, then they have to go and do another deal," Holt said.
Persons: Kevin Holt, Hess, Holt, hasn't, XOM, Chevron's, Tengiz Organizations: Exxon Mobil, Chevron, Invesco Energy, Exxon, Hess Corp, Hess, Chevron Chevron Locations: Guyana, U.S, Stabroek, FSTEX, Kazakhstan, Holt, Tengiz
What Is a Wire Transfer?
  + stars: | 2024-05-30 | by ( Cheryl Lock | Sophia Acevedo | Read More | ) www.businessinsider.com   time to read: +8 min
There are two ways to wire money: through a bank or through a wire service. How wire transfers workThe process of initiating a wire transferWire transfers typically come in two forms: a transfer between banks or through a money service, like Western Union. In general, a bank account wire transfer tends to cost less than using a service like Western Union. A wire transfer is a secure, electronic transfer of funds from one bank account to another. It's always good practice to review the recipient's information before initiating a wire transfer, and only send money to people you trust because it's difficult to reverse or cancel a transfer.
Persons: Cheryl Lock Cheryl Lock, Read Organizations: Western, Union, ABA, U.S, Network, USA, Forbes, MarketWatch, Twitter, LinkedIn Locations: Western Union, Union, U.S, Denver
However, investors can boost their performance when accounting for reinvesting dividends. The stock has a dividend yield of 4.2%, which is just a snapshot of how much it pays currently. The stock has a dividend yield of 3.1%. If you're a long-term investor, you're dollar-cost averaging," she said. Names on her radar these days include Amgen , which is yielding about 3%, and Southern Copper , which has a dividend yield of 3.2%.
Persons: Goldman Sachs, Dow, it's, Kim Abmeyer, Abmeyer, — CNBC's Chris Hayes Organizations: Dow Jones, UnitedHealth, Microsoft, Abmeyer Wealth Management, Dow, CNBC Pro, Chevron, Pfizer Locations: Wednesday's, Dallas, Chevron
Big oil shareholders could get a lot richer
  + stars: | 2024-05-30 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
New York CNN —Big oil just got bigger, and shareholders could soon be getting richer. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall, reports my colleague Nathaniel Meyersohn. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods. Dollar Tree also owns Family Dollar, based mostly in cities. Family Dollar has underperformed Dollar Tree and other discount chains in recent years, and it’s closing 975 stores.
Persons: Stewart Glickman, , “ it’s, Stewart, Hess, McDonald’s, Joe Erlinger, , Danielle Wiener, Bronner, they’re, Chris Kempczinski, ” Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, ConocoPhillips, Marathon, Diamondback, Endeavor Energy Partners, , McDonald’s, America, Mac, Locations: New York, multibillion, McDonald’s USA, U.S, Arizona , California , Nevada, Texas, Virginia, West Coast
If inflation continues to decelerate in the coming months, mortgage rates could fall further. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But because inflation has been somewhat sticky in recent months, mortgage rates have remained elevated so far this year. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.
Persons: Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron
Aramco will offer 1.545 billion shares in a price range between 26.70 and 29 Saudi riyals per share, according to a company filing. At the midpoint of that range, the sale would total nearly $11.5 billion. The sale represents a follow-on offering, after Aramco initially entered the public markets in 2019 and raised $29.4 billion in the world's largest ever initial public offering. Aramco lifted its base dividend for the fourth quarter to $20.3 billion, and boosted its performance-linked dividend to $10.8 billion. Saudi Arabia owns more than 82% of Aramco prior to the sale, the Wall Street Journal has reported.
Persons: Abdulaziz bin Salman, Prince Mohammed bin Salman, — CNBC's Spencer Kimball Organizations: Aramco, Plaza Conference, Saudi, Saudi Energy, Chevron, ExxonMobil, giga, Wall Street Locations: Dhahran, Saudi Arabia, Saudi Arabia's, Aramco, Riyadh, Saudi, Neom
CNN —Lexi Thompson will retire from professional golf at the end of the 2024 season, calling time on a decorated career at the age of 29, the American announced on Tuesday. And of course, I look forward to a little time for myself.”Thompson became the youngest to ever compete at the US Women's Open in 2007. “You haven’t always been easy on me, or fair for that matter, but through all the ups and downs, you’ve given me a platform to inspire others and positively impact the world,” Thompson said in her letter. Stephen Dunn/Getty Images‘A whirlwind of constant attention, scrutiny and pressure’Thompson spoke through tears during a press conference at Pennsylvania’s Lancaster Country Club, US Women’s Open host, on Tuesday. 1 and the US Women’s Open tournament favorite Nelly Korda.
Persons: Lexi Thompson, , ” Thompson, , Leo, Streeter Lecka, Thompson, agonizingly, South Korea’s, Stephen Dunn, ’ Thompson, , I’ll, We’re, we’re, that’s, David Cannon, Rose Zhang, Rory McIlroy, Max Homa, Matt Rourke, Nelly Korda, “ She’s, ” Korda, she’s, Corpuz, She’s, Michelle Wie West, Annika Sörenstam, Thompson’s, Suzann, fairways we’ve Organizations: CNN, American, Floridian, Kraft Nabisco, Chevron, , USA, Solheim, Olympic, US, LPGA, Aramco, European, South, Pennsylvania’s Lancaster Country Club, PGA, Shriners, PGA Tour, Locations: Instagram,
After finally dropping below 7% earlier this month, 30-year mortgage rates have been holding relatively steady in the mid-to-high 6% range, according to Zillow data. Once the Fed is able to start lowering rates, mortgage rates are expected to fall. Mortgage rates are expected to go down this year, but they might not drop as much as initially expected. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.
Persons: you'll, Fannie Mae Organizations: Federal, Consumer, Mortgage, Zillow, Association, Sky Locations: March's, Chevron
Another mega oil dealBullish predictions for $100 crude oil may not have come to fruition, but that hasn’t stopped the deal frenzy in the fossil fuel sector. The latest: The Houston-based company ConocoPhillips has agreed to acquire its smaller rival, Marathon Oil, in an all-stock deal that values the company at $22.5 billion, including debt. The news comes a day after Hess shareholders approved Chevron’s $53 billion takeover in a contentious vote. The oil majors have pulled off some of the biggest deals in the past year despite tough regulatory scrutiny from the Biden administration and volatility in the oil market. Still, the U.S. giants are sitting on record profits, giving them the firepower to acquire smaller drillers with operations in the oil-rich Permian Basin and in the Gulf of Mexico.
Persons: hasn’t, Hess, Biden Organizations: ConocoPhillips, Marathon Oil Locations: Houston, U.S, Gulf of Mexico
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