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Search resuls for: "Tenaris"


7 mentions found


☆ BofA reveals the global stocks that tend to outperform when the U.S. dollar rises
  + stars: | 2023-09-29 | by ( Amala Balakrishner | ) www.cnbc.com   time to read: +1 min
The U.S. dollar index hit its highest level since March earlier this month, while its 50-day moving average is showing signs of surpassing its 200-day counterpart. European stocks to benefit Bank of America's screen captures European companies that would "tend to outperform" when the U.S. dollar index rises. They also had a "significant and positive slope from regression [against] the U.S. dollar index." "Over the past five years, Low Risk stocks, Energy and Norway have tended to outperform the most when the DXY index has been rising," she added. Elsewhere Dutch media house Wolters Kluwer , Italian energy player Tenaris and Finnish telecommunication services provider Nokia also appeared on the screen.
Persons: BofA's Paulina Strzelinska, Strzelinska, Wolters, — CNBC's Michael Bloom Organizations: U.S, Bank of America, The U.S, Bank, Energy, Bank of, Tobacco, Diageo, BP, Bayer, Roche, Wolters Kluwer, Nokia Locations: The, Europe, Norway, Novozymes, Denmark, Qiagen, Germany, Switzerland
☆ Morgan Stanley names cash-rich global stocks with 'better downside protection'
  + stars: | 2023-08-28 | by ( Lucy Handley | ) www.cnbc.com   time to read: +2 min
Morgan Stanley named a raft of European stocks with strong balance sheets, lots of cash or high shareholder returns. High cash flow and shareholder returns The bank also screened for companies with "resilient high free cash flow." "Self-financing companies should be better able to weather any prolonged macroeconomic weakness, deploying capital effectively and seizing opportunities that come along the way," Morgan Stanley said. "Cash-rich companies with high free cash flow yields should also have better downside protection, while providing upside potential if management is able to deploy its cash effectively," the bank said. Those firms also have "positive free cash flow and net income growth expected over the next 2 years," the bank said.
Persons: Morgan Stanley, Burberry, — CNBC's Michael Bloom Organizations: CNBC, JD Sports, Sanofi, Airbus, MTU Aero Engines, SAP, WPP, Publicis Groupe, InterContinental Locations: Europe
☆ Venezuela appeals to US Supreme Court in last ditch move to limit Citgo auction
  + stars: | 2023-08-17 | by ( ) www.reuters.com   time to read: +2 min
Aug 17 (Reuters) - Venezuela is making a last ditch attempt to limit the number of companies that could participate in a court-ordered auction of shares in a parent of oil refiner Citgo Petroleum, appealing to the U.S. Supreme Court to overturn a lower court's ruling. Venezuela's petition is asking the Supreme Court to find the lower court's "alter ego" decision was faulty. It does not affect the case against Venezuela filed by miner Crystallex International, whose $970 million claim led to the proposed auction of shares. The petition seeks to have briefs filed by September 15 - just ahead of the start of the proposed auction. A Delaware court judge has set Oct. 23 as the start date for the auction.
Persons: Nicolas Maduro, Gary McWilliams, Deepa Babington, David Gregorio Our Organizations: Petroleum, U.S, Supreme, ConocoPhillips, Exxon Mobil, Tenaris SA, CITGO Petroleum Corporation, Venezuela, Crystallex, Thomson Locations: Venezuela, PDV, United States, Illinois , Louisiana, Texas, Delaware, Houston, PDVSA
☆ This pipe manufacturer can rally more than 45%, Jefferies says
  + stars: | 2023-06-29 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Analyst Jamie Franklin initiated coverage of the steel producer known for its pipes business at a buy rating. His price target of $41.80 for U.S.-listed shares implies upside of 46.6%. U.S.-listed shares were up nearly 3% on Thursday. But international pricing is improving, and the company had nearly 40% of sales outside of North America in 2022, according to Jefferies. Franklin said Tenaris has a remarkable operational delivery record, with EBITDA margins over 20% on average in the last decade.
Persons: Tenaris, Jefferies, Jamie Franklin, Franklin, — CNBC's Michael Bloom Organizations: Services, TEN, Jefferies, Vallourec S.A Locations: U.S, Tenaris, Milan ., North America
☆ Stocks making the biggest moves midday: Occidental Petroleum, Wells Fargo, Micron, Joby and more
  + stars: | 2023-06-29 | by ( Brian Evans | ) www.cnbc.com   time to read: +2 min
Analyst Adam Jonas's $13 price target implies more than 70% upside from Wednesday's close for the stock. Wells Fargo climbed 3.4% while JPMorgan and Bank of America added more than 2% each. Tenaris — The pipe manufacturer rose 2.4% after Jefferies initiated coverage of the stock at a buy, citing a compelling risk-reward ratio. Occidental Petroleum - Shares of the oil giant rose nearly 1% after Warren Buffett's Berkshire Hathaway once again increased its stake. Sigilon Therapeutics — Shares soared more than 500% on news that pharmaceutical company Eli Lilly would purchase Sigilon for as much as $126.56 per share.
Persons: Freyr — Freyr Battery, Morgan Stanley, Adam Jonas's, Wells, Jefferies, Warren Buffett's Berkshire Hathaway, Eli Lilly, — CNBC's Michelle Fox, Alex Harring, Sarah Min, Yun Li Organizations: JPMorgan Chase, Bank of America —, JPMorgan, Bank of America, Micron Technology, Micron, Occidental Petroleum, Occidental, Joby, SK Telecom, Sigilon Therapeutics, Therapeutics, Food and Drug Administration Locations: Salt Lake City , Utah, Wells Fargo, China, Occidental, Houston
☆ Spooked dealmakers scurry back into their foxholes
  + stars: | 2023-03-23 | by ( Jeffrey Goldfarb | ) www.reuters.com   time to read: +8 min
NEW YORK, March 23 (Reuters Breakingviews) - Jonathan Kanter, a lawyer by training, has become something of a magician. Pay closer attention, however, and Kanter is methodically rewriting a decades-old regulatory playbook. Last year, these breakup charges reached their highest level in a decade, at an average 4.5% of deal prices. The Department of Agriculture partnered with the DOJ on the case, another feature of Kanter’s plan of attack. As legal weaknesses emerge, dealmakers should be in position to better structure transactions and defend themselves at trial.
☆ Tenaris says Benteler N.America halts sale of steel pipe business
  + stars: | 2023-02-05 | by ( ) www.reuters.com   time to read: 1 min
Feb 5 (Reuters) - Tenaris SA (TENR.MI) said on Sunday that Benteler North America Corp has called off a previously announced agreement to sell 100% of its shares in its steel pipe business to the Luxembourg-based company. Tenaris, which produces pipes for oil and gas exploration, announced last year that it would acquire U.S.- based Steel & Tube Manufacturing Corp for $460 million as it seeks to expand its manufacturing capabilities in the United States. The company said it would acquire 100% of Benteler Steel on a cash-free, debt-free basis, which includes $52 million in working capital. The deal had been expected to close in the fourth quarter of 2022. Reporting by Lavanya Ahire in Bengaluru; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
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