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☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Micron, Honeywell, Boeing, Snowflake, Zoom, Best Buy and more
▼ + stars: | 2024-03-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Deutsche Bank reiterates Charles Schwab as buy Deutsche Bank raised its price target on the stock to $77 per share from $75. UBS reiterates Boeing as buy UBS said the risks are already priced in for Boeing shares. Loop reiterates Best Buy as buy Loop said the electronics giant is a "stealth housing play." UBS reiterates Micron as buy UBS said it is standing by its buy rating on the stock heading into earnings on Wednesday. UBS upgrades Cognex to buy from neutral UBS said the systems software company is "high quality growth at a discount."

Persons: Goldman Sachs, Charles Schwab, Bernstein, –, Redburn, Cooper, Jefferies, ZM, Mizuho, Baird, KeyBanc, Raymond James, Morgan Stanley, Stephens, Guggenheim, Wells, Wells Fargo Organizations: Nvidia, Deutsche Bank, Northern Trust Deutsche Bank, Northern Trust, Apple, Google, Barclays, Cooper Companies, Citi, Honeywell, Honeywell International Inc, Union Pacific Corp, Mizuho, UBS, Boeing, Micron, TEAM, Logistics, Industries, JPMorgan, Systems, Bank of America, Avis Budget, OW, Equity, Accenture, Starbucks Locations: Snowflake, 2H24E, Truist

☆ BP and UAE suspend $2 billion gas deal in Israel as Gaza war drags on
▼ + stars: | 2024-03-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —BP and an oil company owned by the United Arab Emirates have shelved talks to buy a 50% stake in Israel’s leading natural gas producer, judging the $2 billion deal too risky as the war in Gaza rages. “There can be no certainty that discussions will resume or that an agreement will be reached in the future, nor as to the terms of an agreement should one be reached,” NewMed Energy said. But the war has strained those ties, and the UAE has repeatedly called for an “immediate ceasefire” in Gaza. Separately, BP was one of six companies awarded licenses by Israel’s energy ministry in October to explore for natural gas off the country’s Mediterranean cost. Last month, they announced a joint venture to develop natural gas assets in Egypt.

Persons: Abu, Adnoc, NewMed Energy’s, Delek Organizations: London CNN, BP, United Arab Emirates, Energy, Starbucks, McDonald’s, KFC, NewMed Energy, Reuters, NewMed, Chevron Locations: Gaza, Tel Aviv, Israel, UAE, Egypt

☆ Israel’s fossil fuel boon becomes less clear-cut
▼ + stars: | 2023-10-19 | by ( Yawen Chen | ) www.reuters.com time to read: +5 min

LONDON, Oct 19 (Reuters Breakingviews) - Israel’s growing gas sector has a significance that extends east and west. Analysts at Israel’s Bank Leumi had estimated that exports would jump to at least 11 bcm this year. Israel’s 1,087 bcm of gas reserves in 2022 yielded 21 bcm of production, of which 9 bcm was exported, with a doubling of exports to Israel’s main market, Egypt. Still, Israel’s gas sector has gone from a helping hand to a potential headache. Follow @ywchen1 on XCONTEXT NEWSDutch TTF Natural Gas Futures, Europe’s benchmark gas index, were trading at 48 euros per megawatt hour as of 0823 GMT on Oct. 19.

Persons: –, Yair Lapid, Israel’s Bank Leumi, It’s, NewMed, Abraham, Gaza’s, Isabel Dotzenrath, George Hay, Streisand Neto Organizations: Reuters, United, United Arab Emirates, Israel’s Bank, LNG, Abu, Abu Dhabi National Oil Company, NewMed Energy, Abraham Accords, BP, Natural Gas Futures, Intercontinental Exchange, Chevron, Mediterranean Gas, Oil, Energy, Thomson Locations: United Arab, Israel, Europe, Russia, Egypt, Brussels, Abu Dhabi, Ahli, ’, Jihad, Gaza, Jordan, Denver

NewMed shares were down 1.4% by 1050GMT. The panel, however, did not receive any other offers, according to several sources close to the matter. Once the panel concludes the negotiations, it will submit its recommendation to the NewMed board. BP, Adnoc and NewMed declined to comment. NewMed's shares have risen by over 50% since the March 28 announcement to around 11.50 NIS, but they still remain below the offer price of 12.05 shekels ($3.15).

Persons: Hamad, Mohammed, Abu, NewMed, Ron Bousso, Sharon Singleton Organizations: United, United Arab Emirates, REUTERS, BP, Abu, Abu Dhabi National Oil Co, 1050GMT, NewMed, Adnoc, ADNOC, Delek, Thomson Locations: Abu Dhabi, United Arab, Israel

☆ Israel's Percepto gets U.S. FAA waiver for drone use, raises $67 mln
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

Heavy industry confronts major challenges to operate efficiently, maintain reliable critical infrastructure, meet high productivity expectations, and increase safety levels - all in the face of complex, hazardous and often aging infrastructure assets. Percepto said it helps industrial companies meet challenges such as maintaining reliable critical infrastructure, meeting high productivity expectations, and increasing safety levels through real-time visibility into their facility's infrastructure integrity, and finding failures before they escalate into incidents. It said it received a nationwide Beyond Line of Sight waiver from the U.S. Federal Aviation Administration, allowing the company to provide any U.S. critical infrastructure site with remotely-operated automated drones without the need for site specific approvals from the FAA. Percepto said this waiver removes logistical and cost barriers, such as the need for radars or people on the ground, fuelling the adoption of autonomous drone technology. In total, Percepto has raised $120 million.

Persons: Percepto, Arkin, Steven Scheer, David Evans Organizations: U.S . Federal Aviation Administration, FAA, Koch Disruptive Technologies, Zimmer Partners, U.S, Venture Partners, Delek US Holdings, Atento, Spider Capital, Arkin Holdings, Thomson

☆ As earnings season winds down, investors turn to Tuesday's debt ceiling meeting
▼ + stars: | 2023-05-06 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell.

LONDON, March 28 (Reuters) - BP (BP.L) and Abu Dhabi's state oil giant on Tuesday offered to acquire 50% of Israeli offshore natural gas producer NewMed Energy (NWMDp.TA) for around $2 billion, making their entry into Israel's growing energy sector. The offer would involve acquiring NewMed's free floating shares and taking the company private. BP shares gained 2% by 0810 GMT while NewMed shares were up around 30%. For BP, the deal highlights the British company's focus on growing natural gas production after Chief Executive Bernard Looney last month slowed down its shift away from fossil fuels. After the deal closes NewMed will become a private corporation equally held by the BP-ADNOC JV and Delek Group (DLEKG.TA), which holds the remaining 50%.

☆ BP, ADNOC’s Mediterranean debut ticks three boxes
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 28 (Reuters Breakingviews) - BP (BP.L) and the Abu Dhabi National Oil Company (ADNOC) are tying the knot. The duo plan to set up a joint venture to buy gas assets in the eastern Mediterranean. On the other hand, the $4 billion NewMed net asset value implied by BP and ADNOC’s bid is some way ahead of the $2.6 billion estimated by hedge fund Palliser during NewMed’s autumn dalliance with Capricorn Energy (CNE.L). And after rethinking the speed with which it’s cutting its oil and gas production, BP wants to show investors that it can identify suitable fossil fuel projects. NewMed shares only jumped 38% to around 10 shekels on Tuesday, implying doubt about whether the deal will happen.

At the same time, the pan-European STOXX 600 (.STOXX) was down 0.4% and an index of European oil and gas stocks was down 0.9%. (.SXEP)The IPO, which priced at the bottom of the expected price range, gave an initial valuation of 2.45 billion pounds ($2.83 billion) for the company. The London stock exchange has suffered the worst year on record for UK IPOs as market volatility persists amid the energy crisis and worsening economic forecasts. So far in 2022, global utility and energy IPOs valued at more than $100 million saw an average 19.9% return after one day, compared with negative returns for European utility and energy IPOs and UK IPOs across all sectors, according to Dealogic data. The last oil and gas producer to float on the main London stock exchange was eastern Mediterranean-focused Energean (ENOG.L) in 2018.

☆ UK energy IPOs get a vote of minimal confidence
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 9 (Reuters Breakingviews) - In one sense, Ithaca Energy’s initial public offering on Wednesday was a success. But a 6% drop below its 250 pence listing price on its first day of trading suggests it’s not all good news read more . Ithaca, owned by Israel’s Delek Group (DLEKG.TA), has a newly minted equity value of roughly $2.9 billion, and $1.4 billion of net debt. And Ithaca might have to rethink key growth projects, like oilfield Cambo, if the UK elects a potentially more anti-fossil fuel Labour government in the coming years. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Energy security trumps the climate? London’s biggest IPO of the year is an oil company
▼ + stars: | 2022-11-09 | by ( Julia Horowitz | ) edition.cnn.com time to read: +3 min

That’s one lesson from the initial public offering on Wednesday of Ithaca Energy, a North Sea oil and gas producer — which went ahead as world leaders gathered for the UN climate summit in Egypt. The best performing stock so far this year on London’s FTSE 250 index is Energean, which focuses on gas projects in the North Sea and Mediterranean. The North Sea is an aging basin, and oil and gas giants like Chevron (CVX), Exxon (XOM) and Shell (RDSA) have been winding down their presence. Piper said an oil and gas company is one of few that could get away with a listing on the market right now. “That’s going to impact the value of all North Sea oil producers,” Piper said.

Nov 8 (Reuters) - North Sea oil and gas producer Ithaca Energy's (IPO-IHEG.L) planned initial public offering (IPO) in London is set to be priced at the bottom of the range at 250 pence per share, a bookrunner on the deal said on Tuesday. The planned IPO of Ithaca - owned by Tel Aviv-listed Delek Group (DLEKG.TA) - on the London Stock Exchange on Wednesday has been closely watched in an IPO market starved of activity since Russia's invasion of Ukraine. Delek bought Ithaca in April from private equity-backed Siccar Point Energy, already flagging its intention to float. The last oil and gas producer to float on the main London stock exchange was eastern Mediterranean-focused Energean ENOG.L in 2018. Reuters Graphics($1 = 0.8716 pounds)Reporting by Sinchita Mitra in Bengaluru; Editing by Rashmi Aich and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Wells Fargo says buy small caps over large caps. Here are 10 favorites
▼ + stars: | 2022-11-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Small-cap stocks in Wells Fargo's portfolio are poised to outperform their larger counterparts. "Last year we said small-cap Quality was historically mispriced, but did not think the macro environment favored small caps over large caps," he said in a Monday note to clients. "Going forward, we still believe in a High Quality approach, and we now expect small caps to outpace large caps." Harvey said small caps are technically oversold, but they are beginning to "bounce" while having "more attractive" valuations. The portfolio includes about three dozen stocks that Wells Fargo calls "high quality" small caps.

☆ Ithaca Energy IPO set to price at lower end of range - bookrunner
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

LONDON, Nov 7 (Reuters) - A planned initial public offering of North Sea oil and gas producer Ithaca Energy (IPO-IHEG.L) is set to price at the lower end of the previously guided range, bookrunners on the deal said on Monday. The revised price guidance is for between 250 and 270 pence per share, compared with the previous price range of 250 to 310 pence, which had implied a market value of 2.5 billion to 3.1 billion pounds. Books were oversubscribed at the revised price range, the bookrunners said, adding they would close on Nov 8. The planned float of Ithaca - owned by Tel Aviv-listed Delek Group (DLEKG.TA) - on the London Stock Exchange has been closely watched in an IPO market starved of activity since Russia's invasion of Ukraine. Reporting by Iain Withers, Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ The Fed, earnings, jobs and China: How we think about this week's deluge of data
▼ + stars: | 2022-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It is very premature, in my view, to think about or be talking about pausing our rate hikes. The news sent those stocks reliant on China for growth — Starbucks, Estee Lauder and Wynn Resorts, among many others — higher. Or bad news could just be bad news if weak data signals a recession ahead. And good news could be good news: for example, if China reopens and U.S. companies exposed to the region see a boost in demand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Ithaca Energy breathes life into UK stock market as bookrunners eye $3.6 bln listing
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 2 (Reuters) - Ithaca Energy's (IPO-IHEG.L) London listing will be priced at 250 to 310 pence, giving the North Sea oil and gas producer an implied market value of 2.5 billion to 3.1 billion pounds ($2.87 billion to $3.56 billion), bookrunners said on Wednesday. Ithaca, owned by Tel Aviv-listed Delek Group (DLEKG.TA), expects to be eligible for inclusion in the FTSE UK indices. The bookrunners said the listing is expected to have a free float of at least 10%, with the first day of trading on November 9. Goldman Sachs (GS.N) and Morgan Stanley are joint global co-ordinators on the deal while HSBC (HSBA.L), Jefferies (JEF.N) and Bank of America (BAC.N) are joint bookrunners, with ING (INGA.AS) acting as co-lead manager. ($1 = 0.8702 pounds)Reporting by Huw Jones and Sinead Cruise; editing by Jason Neely and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

LONDON, Sept 29 (Reuters) - Capricorn Energy (CNE.L) plans to merge with Israel's NewMed (NWMDp.TA) in an all-share deal after paying a $620 million special dividend to its shareholders, ditching a previous scheme to merge with Tullow Oil (TLW.L). The deal would value Capricorn shares at 271 pence, a 13 % premium to its last closing price. The deal with West Africa-focused Tullow, which declined to comment on Thursday's news, had valued Capricorn at around 210 pence per share. The merger would see Capricorn issue new shares to NewMed investors based on an exchange ratio of around 2.34 per NewMed share, which will see Capricorn shareholders hold just over 10% of the new company. Capricorn's Chief Financial Officer James Smith will stay on with NewMed Energy, which is set to pay out at least 30% of its cah flow in dividends.

☆ Goldman says this is the way to play the energy stock trade from here after a 40% gain this year
▼ + stars: | 2022-09-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

While the S & P 500 is down almost 19% for the year, the energy sector has thrived by comparison, having posted a roughly 40% gain in 2022. The firm said it expects Chesapeake to generate 15% free cash flow yield in 2023 and 10% the following year. Further, Weatherford has introduced initiatives to close its margin gap with peers and improve its free cash flow conversion, Goldman says. For oil and global exploration and production, Goldman looked at stocks trading at a discount to their net asset value. That includes Magnolia Oil & Gas , which the firm says is well positioned to generate double-digit free cash flow yield and dividend growth.

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