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☆ 14 earnings reports and major economic data will be the stock market movers this week
▼ + stars: | 2024-10-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The Street is looking for Stanley Black & Decker sales of $3.8 billion in the third quarter and earnings per share (EPS) of $1.05. The Street is looking for Linde sales of $8.35 billion in the third quarter and EPS of $3.89. In addition to the headline results and forward guidance, overall organic sales growth and data center energy power demand will be focus items for investors. The Street is looking for sales of $94.47 billion in its fiscal fourth quarter and EPS of $1.55. The Street is looking for Coterra sales of $1.3 billion in the third quarter and EPS of 34 cents.

Persons: That's, It's, Stanley Black, Decker, we're, We're, Eli Lilly, Lilly, Amy Hood's, Brian Niccol, Wednesday's, Linde, it's, we'll, Phillips, Horton, Kraft Heinz, SIRI, Estee Lauder, BUD, Cardinal Health, Jim Cramer's, Jim Cramer, Jim, Stephanie Keith Organizations: Nasdaq, Dow, Fed, PCE, YouTube, Justice, AMD, GE Healthcare, Reality Labs, Microsoft, Management, Starbucks, U.S, Presidential, Linde, Apple Intelligence, Amazon, Services, Coterra Energy, WM, Cadence Design Systems, Labor, PayPal, BP, Pfizer, Royal Caribbean Cruises, JetBlue, HSBC, Devices, Grill, Electronic Arts, EA, Gross, Caterpillar, Brinker International, AFortive Corporation, Illinois Tool, Coinbase, eBay, EBAY, Booking Holdings, MGM Resorts, MGM, Bausch Health, LIN, Merck, ConocoPhillips, Mastercard, Altria, Cruise, Myers Squibb, Comcast, Mobileye, Cheniere Energy, Regeneron Pharmaceuticals, Anheuser, Busch InBev, Intel, United States Steel, Juniper Networks, Chevron, Exxon Mobil, Dominion Energy, Charter Communications, LyondellBasell Industries, Cardinal, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Eaton, Corning, Illinois, Bristol, New York City

☆ This energy stock is set for a breakout with oil on the rise again. How to play it with options
▼ + stars: | 2024-07-31 | by ( Tony Zhang | ) www.cnbc.com time to read: +2 min

As oil rebounds following oversold conditions, it provides an opportunity for buyers to step in, especially with the potential for geopolitical tensions to rise. And one energy stock that looks set up to potentially break out is Phillips 66 (PSX) after largely trading in a range since February. However, it is now just starting to break out from that trading range and starts to target the $170 highs as upside targets. With a higher debt to equity ratio, PSX has a higher implied leverage than its peers, which provides a higher upside potential if oil prices recover from its recent pullback. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Phillips, PSX Organizations: CNBC, NBC UNIVERSAL

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

☆ Here are Wednesday's biggest analyst calls: Apple, Netflix, Nvidia, Uber, Tesla, Microsoft, Amazon & more
▼ + stars: | 2024-01-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Citi reiterates Chipotle as buy Citi raised its price target on Chipotle to $2,699 per share from $2,292. "We are launching coverage of NKLA with an Outperform rating and a $2 price target." Polestar : On a Road to Nowhere - Initiating Coverage with a target price of $1.15, Underperform." Citi upgrades Sunoco to buy from neutral Citi said the oil and gas company is "compelling." Citi reiterates Microsoft as buy Citi raised its price target on the stock to $470 per share from $432 and said "ramping GenAI should keep growth accelerating."

Persons: Chipotle, Daiwa, Wells, Morgan Stanley, it's, Baird, Nikola, Bernstein, Biogen, Webster, Redburn, Tesla, Apple, Morgan Stanley downgrades PagerDuty, Gordon Haskett downgrades Uber, Gordon Haskett, Oppenheimer, PulteGroup, Wolfe Organizations: Citi, Verizon, Netflix, Amazon, EV, Devices, AMD, UBS, Apple, Uber, Deutsche Bank, Deutsche, Barclays downgrades, Barclays, Microsoft, BMO, HSBC, Stellantis, Entertainment, Nvidia, Wolfe Alpha, Valero, Phillips Locations: H1'24, Nowhere, China

☆ Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +9 min

TECHNOLOGY, MEDIA AND TELECOM SECTORMeta Platforms (META.O):The Facebook-parent said it would cut 10,000 jobs, just four months after it let go 11,000 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Workday (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse was planning to cut about 3,000 jobs in the second quarter ended June 30, Reuters reported in May.

Persons: Brendan McDermid, Goldman Sachs, Axios, Pat Gelsinger, Elon Musk, Morgan Stanley, Lazard, Coinbase, cryptocurrencies, Phillips, Johnson, Joseph Wolk, Deborah Sophia, Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, Sourasis Bose, Priyamvada, Tiyashi Datta, Manya Saini, Jaspreet Singh, Maju Samuel, Sriraj Kalluvila, Pooja Desai Organizations: REUTERS, TELECOM, Meta, Facebook, IBM Corp, Spotify Technology SA, Spotify, Microsoft Corp, Intel Corp, Reuters, New York Times, Elon, Cisco Systems, HP, Rivian, Match, Dell Technologies, Technologies, U.S . Central Intelligence Agency, Goldman Sachs, Wall, Citigroup, Bloomberg News, BlackRock, Bed, Dow, Johnson, 3M, Thomson Locations: New, Wall, U.S, York, New Jersey, Bengaluru

☆ US refiner Phillips 66 retains big-name advisers for Elliott duel
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

U.S. oil company Phillips 66 headquarters in Houston, Texas, U.S., September 27, 2020. REUTERS/Gary McWilliams/File Photo Acquire Licensing RightsNov 30 (Reuters) - U.S. oil refiner Phillips 66 (PSX.N) has retained two top financial and legal advisers for its duel with activist investor Elliott Investment Management, according to a person familiar with the matter. Elliott wants two board seats to be filled by executives with refining experience and faster action on restructuring the fourth-largest U.S. oil refiner to improve its lagging financial performance, the New York activist said on Wednesday. Phillips 66 is relying on financial and legal advice from Goldman Sachs (GS.N) and Wachtell, Lipton, Rosen & Katz, the person familiar with the matter said. A Phillips 66 spokesman declined to comment on the advisers or whether it has new meetings scheduled with the activist.

Persons: Gary McWilliams, refiner Phillips, Elliott, Phillips, Goldman Sachs, Lipton, Katz, Tudor Pickering Holt, Matthew Blair, Blair, David French, Chizu Organizations: Phillips, REUTERS, Elliott Investment Management, New, Wachtell, Rosen, Tudor Pickering Holt & Co, Chevron, Thomson Locations: Houston , Texas, U.S, New York, Houston, CPChem

☆ Phillips 66's refining operations come under activist radar
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +4 min

REFINERIES:WOOD RIVER, Roxana, Illinois, refining capacity: 356,000 barrels per day (bpd)Largest Phillips 66 refinery by operating capacity. LOS ANGELES: Carson and Wilmington, California, capacity: 139,000 bpdTwo sites linked by pipeline, producing California Air Resources Board-grade gasoline and fuel-grade petroleum coke. *SAN FRANCISCO: Santa Maria, Wilmington, California and Rodeo, Rodeo, California, capacity: 120,200 bpdPhillips 66's San Francisco operations consisted of two sites: Santa Maria refinery in Wilmington, California and Rodeo refinery in Rodeo, California. INTERNATIONAL REFINERIES:HUMBER, North Lincolnshire, United Kingdom, total throughput: 245,000 bpdProduces transportation fuels, petrochemical feedstocks, home heating oil and petroleum coke. MiRO, Karlsruhe, Germany, total throughput: 61,000 bpdProduces transportation fuels, petrochemical feedstocks, home heating oil, bitumen, and petroleum coke.

Persons: Bing Guan, refiner Phillips, Phillips, Santa, Santa Maria, Shariq Khan, Matthew Lewis Organizations: Phillips, Los, Los Angeles Refinery, REUTERS, Investment Management, Energy, Exports, California Air Resources, INTERNATIONAL, MiRO, . Energy, Thomson Locations: Los Angeles, Carson , California, U.S, Wood, Borger, Roxana , Illinois, Midcontinent, BORGER, Borger , Texas, West Texas, New Mexico , Colorado, SWEENY, Old Ocean , Texas, United States, America, LAKE CHARLES, Westlake , Louisiana, Europe, Linden , New Jersey, York, Bayway, East Coast . PONCA CITY, Ponca City , Oklahoma, ANGELES, Carson, Wilmington , California, California, California , Nevada, Arizona, FERNDALE, Ferndale , Washington, BILLINGS, Billings , Montana, Montana , Wyoming , Idaho , Utah, Colorado, Washington, Santa Maria, Rodeo , California, Francisco, HUMBER, North Lincolnshire, United Kingdom, Karlsruhe, Germany, Switzerland, France, Austria, San Francisco, Bengaluru

A gas pump selling E15, a gasoline with 15 percent of ethanol, is seen in Mason City, Iowa, United States, May 18, 2015. The decision underscores concerns within President Joe Biden's administration over fuel prices, as opinion polls show inflation and the economy as key vulnerabilities for his 2024 re-election bid. But the U.S. government restricts sales of E15 gasoline in summer months due to environmental concerns over smog. The ethanol industry for years has pushed to lift the restrictions on E15 sales nationwide, arguing the environmental impacts have been overstated. Oil industry-backed studies showed price increases, while ethanol industry-backed studies showed any price increases offset by utilizing lower-cost ethanol.

Persons: Jim, Joe Biden's, Phillips, Biden's, Ed Hirs, Hirs, Jarrett Renshaw, Stephanie Kelly, Will Dunham Organizations: Farm, NBC, Governors, Environmental, Agency, EPA, HF Sinclair Corp, White, University of Houston, Thomson Locations: Mason City , Iowa, United States, Illinois , Iowa , Kansas , Minnesota , Nebraska, North Dakota, South Dakota, Wisconsin, Ukraine, Nebraska, Iowa

☆ Here are Tuesday's biggest analyst calls: Tesla, SoFi, Pinterest, Roku, Boeing, Apple, Shopify, Chewy and more
▼ + stars: | 2023-10-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Baird downgrades ON Semiconductor to neutral from outperform Baird said it sees "pricing pressures" for the semiconductor maker. Morgan Stanley upgrades Chewy to overweight from equal weight Morgan Stanley said in its upgrade of the stock that share sell-off is overdone. " Morgan Stanley upgrades SoFi to equal weight from underweight Morgan Stanley said the risks to SoFi are more than priced in. Morgan Stanley initiates Celsius Holdings as equal weight Morgan Stanley said in its initiation of the stock that it sees a balanced risk/reward. Northcoast upgrades Boeing to buy from neutral Northcoast said in its upgrade of Boeing that it sees a "more promising long term earnings horizon."

Persons: Wells Fargo, Bernstein, Goldman Sachs, it's, Baird, Rowe Price, Tesla, Piper Sandler, Wells, Morgan Stanley, CHWY, Guggenheim, Tourmaline, AutoNation, Jefferies, underperform Jefferies, MoffettNathanson, D.A, Davidson, Northcoast, ABG, Wolfe, Phillips, PSX Organizations: Wells, MARA, Apple, Semiconductor, Citi, TROW, Deutsche Bank, Bank of America, of America, 4Q, Arista Networks, TAM, Lincoln Electric, Seaport, Guggenheim, JPMorgan, Susquehanna, WSM, D.A, Disney, Boeing, Boeing Company, Asbury Automotive Locations: Williams, Sonoma, CELH

☆ 3 things to watch in the stock market next week as bond yields hover at 2007 highs
▼ + stars: | 2023-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

The usual suspects were to blame — rising bond yields, geopolitical tensions, and oil prices — and will hold the keys to the market this coming week. Earnings are one of the three major themes on the marquee next week, with 10 Club companies reporting. Here are the companies: Danaher (DHR), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Veralto (VLTO), Honeywell (HON), Linde (LIN), Amazon (AMZN), Ford (F) and Stanley Black & Decker (SWK). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Jerome Powell, Jim Cramer, Jim, Morgan Stanley, Stanley Black, Decker, Danaher, Veralto, it's, Mark Zuckerberg, We're, Vimal Kapur, Linde, Jim Farley, Ford, FactSet, Powell, WTI, Baker Hughes, Edwards Lifesciences, Northrop, CARR, Davidson, Dr Pepper, Phillips, Jim Cramer's, Michael M Organizations: Dow Jones, Nasdaq, Economic, of New, Treasury, West Texas, Procter, Gamble, 10, Microsoft, Honeywell, Linde, LIN, Health Care, Technology, Communications Services, Google, Meta, Ford, Amazon, United Auto Workers, Atlanta, Wall Street, Hamas, Brent, Strategic Petroleum Reserve, Logitech, Verizon, General Electric, GE, RTX Corporation, Halliburton, HAL, General Motors, Dow Chemical, DOW, Xerox, Texas Instruments, F5 Networks, WM, Boeing, Fisher, Mobile, Hilton, General Dynamics, Norfolk Southern, Otis Worldwide, IBM, KLA, O'Reilly Automotive, Mattel, Whirlpool, Gross, Royal Caribbean Cruises, Hershey Company, United Parcel Service, Southwest Airlines, Altria, Northrop Grumman, Valero Energy Corp, Mastercard, Merck, Co, Myers Squibb, Newmont, Tractor Supply Company, Comcast, Seagate Technology, Boston, Hertz, Carrier, Hasbro, Harley, Intel, Grill, United States Steel, Boston Beer Company, Texas, University of Michigan, Exxon Mobil, Chevron, Charter Communications, Colgate, Palmolive, Newell Brands, Sanofi, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: of New York, U.S, Industrials, OpenAI, America, Venezuela, Cleveland, Norfolk, ORLY, Bristol, Brunswick, Oshkosh, New York City

KARACHI, Pakistan, Oct 5 (Reuters) - Pakistani ecommerce logistics startup Rider, backed by YCombinator, is looking into acquiring BlueEx (UNIV.PSX) the only listed Express Courier Logistics Company in Pakistan, it told Reuters on Thursday. "We are carving out and acquiring the e-commerce logistics business which currently operates under the brand name BlueEx. This is not an acquisition of Universal Network System Limited as a whole," said Salman Allana, founder and CEO of Rider. If the transaction goes through, this will be the first acquisition of a listed company by a startup, and the first major acquisition of a company listed on Pakistan's Growth Enterprise Market (GEM) board at the Pakistan Stock Exchange (PAKS.PSX). While Rider has not disclosed the transaction value, it claims the acquisition will make Rider the third largest player in the ecommerce logistics space.

Persons: Salman Allana, Rider, Allana, Ariba Shahid, Michael Perry Organizations: Express Courier Logistics Company, Reuters, Venture, Universal Network System, Pakistan Stock Exchange, GEM, YCombinator, Global Founders Capital, Flexport, i2i Ventures, Fatima, Ventures, Soma, Rebel Fund, Thomson Locations: KARACHI, Pakistan, Karachi

AIRLINES & AEROSPACE FIRMSPilots at several airlines including American Airlines (AAL.O), Delta Airlines (DAL.N), United Airlines Holdings (UAL.O), Spirit Airlines (SAVE.N) and Jetblue Airways (JBLU.O) negotiated new job contracts this year. Members of some unions like the Southwest Airlines Pilots Association have voted to authorize a strike if a new contract is not reached. MANUFACTURINGU.S. steel producer Cleveland-Cliffs (CLF.N) has reached a tentative agreement with the United Steelworkers union on a new three-year labor agreement for its Northshore mining operations. The Detroit Casino Council (DCC), which represents the workers, could call for strikes as soon as mid-October, when contracts expire. Labor unions secured new contract agreements at multistate operator-owned cannabis dispensaries in Illinois and in New Jersey in July.

Persons: Sergio Martinez, Mike Blake, Mack Trucks, isn't, Mrinalika Roy, Sriraj Organizations: REUTERS, U.S . Bureau of Labor Statistics, Reuters, Alliance, Television Producers, SAG, Hollywood, United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Chrysler, Volvo Group, United Parcel Service, FedEx, Pilots, AIRLINES & AEROSPACE, American Airlines, Delta Airlines, United Airlines Holdings, Spirit Airlines, Jetblue Airways, Southwest Airlines Pilots Association, United Steelworkers, U.S . Steel, Unions, Vegas, MGM, Detroit, MotorCity, Detroit Casino Council, Kaiser Permanente, Workers, Green Thumb Industries, Labor, Phillips, Thomson Locations: Los Angeles , California, U.S, Michigan , Ohio, Missouri, Wichita , Kansas, Cleveland, Detroit, Hollywood, Greektown, Los Angeles, New York City, Chicago, Illinois, New Jersey, Roxana , Illinois, Bengaluru

"It demonstrates the company's capabilities and readiness to refine different types and complexities of crude oil." Cnergyico conducted due diligence and consulted with external sanctions counsel to ensure the import of Russian oil did not violate sanctions, he said. Last year, Pakistan's total crude imports registered at 154,000 bpd. The government paid in Chinese yuan for its first import of discounted Russian crude, which went to state-owned Pakistan Refinery Ltd (PKRF.PSX). Cnergyico said it expects to make the Russian imports viable through the export of furnace oil to generate foreign exchange.

Persons: Alexander Manzyuk, Cnergyico, Ariba Shahid, William Mallard, Tom Hogue Organizations: REUTERS, Rights, Reuters, Pakistan Refinery Ltd, Bank, United Arab, Thomson Locations: Republic of Tatarstan, Russia, Rights KARACHI, Pakistan, Ukraine, Saudi Arabia, United Arab Emirates, Karachi

☆ 5 energy stocks with double-digit return potential as oil prices head toward $100, according to Goldman
▼ + stars: | 2023-09-21 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Chevron stock has slipped roughly 7% from the start of the year. CVX YTD mountain Chevron stock. "We see 16% total return to Chevron," Mehta said. CVE YTD mountain Cenovus stock. BKR YTD mountain Baker Hughes stock.

Persons: Goldman Sachs, Neil Mehta, Goldman, Mehta, refiner Phillips, Cenovus, Brent, Baker Hughes, Baker, — CNBC's Michael Bloom Organizations: Brent, West Texas, Chevron, Phillips, Natural Resources, stoke, Baker Locations: Canada, 2H2023

☆ From UPS to Detroit Three automakers, US labor unions flex muscle
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +4 min

AIRLINES & AEROSPACE FIRMSPilots at several airlines including American Airlines (AAL.O), Delta Airlines (DAL.N), United Airlines Holdings (UAL.O), Spirit Airlines (SAVE.N), Jetblue Airways (JBLU.O) negotiated new job contracts this year. AUTOMOTIVEUnited Auto Workers (UAW) union has been embroiled in a dispute over wages and pension plans with the Detroit Three automakers. U.S. Steel (X.N), which is reviewing multiple proposals ranging from partial acquisition to an entire buyout, is embroiled in a tussle with the United Steel Workers union. Labor unions secured new contract agreements at multistate operator-owned cannabis dispensaries in Illinois and in New Jersey in July. If workers do not vote to ratify the contract, the union will vote the following week on whether to strike.

Persons: Sergio Martinez, Mike Blake, Mrinalika Roy, Sriraj Kalluvila, Shounak Organizations: REUTERS, Bureau of Labor Statistics, Reuters, Hollywood, United Parcel Service, FedEx, Pilots, AIRLINES & AEROSPACE, American Airlines, Delta Airlines, United Airlines Holdings, Spirit Airlines, Jetblue Airways, Southwest Airlines Pilots Association, United Auto Workers, UAW, Detroit Three automakers, Cliffs Inc, United Steelworkers, U.S . Steel, United Steel Workers, Workers, Green Thumb Industries, Labor, Phillips, Thomson Locations: Los Angeles , California, U.S, California, Wichita , Kansas, Cleveland, Los Angeles, New York City, Chicago, Illinois, New Jersey, Roxana , Illinois, Bengaluru

☆ Factbox: Few suppliers of synthetic graphite for EV batteries
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

A sign directing towards electric vehicle charging points is seen in a car park in Manchester, Britain, September 8, 2023. REUTERS/Phil Noble/File Photo Acquire Licensing RightsSept 12 (Reuters) - Although synthetic graphite has been around for more than 100 years, few companies are supplying the material to makers of electric vehicle batteries and battery electrodes. Here’s a short list of public and private companies engaged in the development and production of synthetic graphite, regarded as higher purity and offering better performance, for EV batteries:Anovion (USA)Founded: 2022Partners: Forge Nano, American Battery FactoryOperations: USABTR New Energy Materials (China)(835185.BJE)Founded: 2000Investor: Syrah Resources (SYR.AX)Partner: CNGR (300919.SZ)Operations: China, IndonesiaKuntian New Energy Technology (China)Founded: 2018Investors: Sinopec (600028.SS) , SK China, A123 Systems, Eve Energy (300014.SZ) , BTR New Energy Materials (835185.BJE) , SvoltOperations: ChinaNovonix Group (Australia)(NVX.AX)Founded: 2012Investor: Phillips 66 (PSX.N)Partners: LG Energy Solution (373220.KS) , Kore PowerOperations: Australia, Canada, USAResonac Holdings (Japan)(4004.T)formerly Showa DenkoFounded: 1939Operations: JapanShanshan Technology (China)(SSHOLG.UL)Vianode (Norway)Founded: 2020Investors: Elkem (ELK.OL) , Norsk Hydro (NHY.OL)Operations: NorwaySources: Felixwire, PitchBookReporting by Paul Lienert in Detroit; Editing by Timothy GardnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Paul Lienert, Timothy Gardner Organizations: REUTERS, EV, American Battery Factory, BTR, Energy Materials, Syrah, Indonesia Kuntian, Energy Technology, SK China, Systems, Eve Energy, BTR New Energy Materials, Svolt, China Novonix Group, LG Energy, Power, USA Resonac Holdings, Japan Shanshan Technology, Norsk Hydro, Thomson Locations: Manchester, Britain, China, BJE, Indonesia, Australia, Canada, Japan, Vianode, Norway, Detroit

☆ Los Angeles refiners prepare for Hurricane Hilary
▼ + stars: | 2023-08-18 | by ( Erwin Seba | ) www.reuters.com time to read: +2 min

A general view of the Phillips 66 Company's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, at sunset in Carson, California, U.S., March 11, 2022. Phillips 66 (PSX.N) said operations at its 139,000-bpd Los Angeles refinery were unaffected by the storm. Local and state regulators did not report any changes in operations at Los Angeles refineries on Friday and West Coast refined market traders said they did not know of any cut backs in production. The U.S. National Hurricane Center said Hilary is forecast to be at tropical storm strength when it moves east of Los Angeles on Monday. Heavy rain, possible flash flooding and winds at 40 miles per hour (64 kph) or stronger are forecast for Los Angeles on Sunday and Monday.

Persons: Bing Guan, Hurricane Hilary, Hilary, Erwin Seba, Grant McCool Organizations: Phillips, Los, Los Angeles Refinery, Rights, Chevron, Valero, Marathon Petroleum, New York Mercantile Exchange, U.S, National Hurricane Center, Los Angeles, Sunday, U.S ., Gulf, Thomson Locations: Los Angeles, Carson , California, U.S, California, Local, Coast, Los, U.S . West Coast, Asia, Gulf Coast

☆ A former BlackRock stock chief shares 5 stocks and one area of the bond market he likes right now as growing recessionary pressures threaten to spoil the S&P 500's rally
▼ + stars: | 2023-08-16 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Bob Doll thinks a mild recession will hit the US economy sometime in the near-to-mid future. Outside of the stock market, Doll also thinks bonds are relatively attractive compared to last year. Within the bond market, he likes Treasurys most, with 10-year yields offering more than a 4% coupon. A 1.5% 10-year Treasury is a bad deal, and of course bonds have sold off hard," he said. Treasury bonds can be bought via a brokerage or through TreasuryDirect.

Persons: Bob Doll, Bob Doll isn't, Doll, Phillips, refiners Organizations: Conference, BlackRock, Valero, Aaa, Treasury Locations: HMOs, TreasuryDirect

☆ Here are Tuesday's biggest analyst calls: Disney, Nvidia, Ford, Walmart, JPMorgan, Palo Alto and more
▼ + stars: | 2023-08-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Daiwa reiterates Disney as buy Daiwa is standing by its buy rating on Disney after the company's earnings report last week. Deutsche Bank reiterates Palo Alto Networks as buy Deutsche Bank is bullish heading into earnings later this week. Barclays reiterates Walmart as overweight Barclays is bullish heading into earnings later this week. " Bank of America downgrades Phillips 66 and Marathon Petroleum to neutral from buy Bank of America downgraded several refiners and said the risk/reward is "no longer compelling." Bank of America initiates Turnstone Biologics as buy Bank of America said the biopharmaceutical company is well-positioned.

Persons: it's, Daiwa, KBW, Berkshire Hathaway, Morgan Stanley, Pharvaris, Wells Fargo, Wells, it's bullish, Hannon Armstrong, KeyBanc, PSTG, " Bank of America downgrades Phillips, DINO, Ford Organizations: UBS, Nvidia, Disney, Deutsche Bank, Networks, JPMorgan, Citigroup, Bank of America, ISI, Barclays, Walmart, " Bank of America, of America, Marathon Petroleum, U.S, MPC, Ford

Recovering profit margins may prompt complex refiners to maximise yields of transport fuels, causing excess naphtha output as a byproduct in a tepid petrochemical market and further depressing feedstock margins. Mandell expects margins to continue to perform well throughout the year heading into higher-demand crop planting season and into winter in the United States. "The healthy margins reflect the bull market for diesel combined with still strong gasoline cracks even if gasoline did weaken sharply on week. U.S. oil companies said during recent second quarter earnings presentations that strong global demand for fuels and low product inventories are driving robust profits. "Global capacity additions continue to progress slower than anticipated, and we believe that global demand growth will remain strong," Hennigan added.

Persons: Brian M, Mandell, Eugene Lindell, bullish HSFO, FGE's Lindell, Lindell, ENEOS, Phillips, Michael J, Hennigan, Mohi Narayan, Laura Sanicola, Ahmad Ghaddar, Jeslyn Lerh, Tony Munroe, Muralikumar Organizations: NEW, Phillips, Saudi, Reuters, Petronas, Hyundai, India's Reliance Industries, Oil, Marathon Petroleum, Marathon, Thomson Locations: NEW DELHI, WASHINGTON, Latin America, Asia, United States, Europe, Singapore, Malaysia, South Korea, U.S, New Delhi, Washington, London

Phillips declined to make an executive available for comment and both ADM and Phillips 66 declined to comment. TECH LINED UPAxens SA, which provides technology to convert oil and biomass to lower-carbon fuels, in May agreed to provide its ethanol-to-fuels conversion technology to Phillips, ADM or a joint venture. ADM already formed a joint venture in 2021 with top U.S. oil refiner Marathon Petroleum Corp (MPC.N) to churn out renewable diesel from soybeans. Top oilseed processor Bunge (BG.N) and Chevron (CVX.N) last year formed Bunge Chevron Ag Renewables to make renewable fuels from soybeans and canola. As part of one deal, Chevron invested $600 million in the joint venture, helping double processing capacity at two Bunge soybean crushing facilities.

Persons: Nathan Frandino, refiner Phillips, Phillips, Axens, Gevo, Stephanie Kelly, Karl Plume, Jarrett Renshaw, Erwin Seba, Marguerita Choy Organizations: Phillips, American West, REUTERS, Daniels, Midland, ADM, Renewable Fuels Association, TECH, Axens SA, Gevo Inc, Marathon Petroleum Corp, Bunge, Chevron, Bunge Chevron Ag Renewables, Thomson Locations: Rodeo , California, American, U.S, Peoria , Illinois, Columbus , Nebraska, Cedar Rapids , Iowa, Houston, , California, California, Paris, North Dakota, Bunge Chevron, New York, Chicago, Washington

A Pakistan International Airlines (PIA) passenger plane prepares to take off from the Benazir International airport in Islamabad, Pakistan, February 9, 2016. REUTERS/Faisal Mahmood/File PhotoISLAMABAD, Aug 7 (Reuters) - Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines (PIAa.PSX), the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister Ishaq Dar. The committee "after deliberation decided to include Pakistan International Airlines Co. Ltd in the list of active privatisation projects of the ongoing privatisation programme, following an amendment in the law by the Parliament," a finance ministry statement said. Pakistan hopes to resume PIA flights to Britain in the next three months after services were suspended following a fake pilot scandal.

Persons: Faisal Mahmood, Ishaq Dar, Asif Shahzad, Baranjot Kaur, David Goodman, Mark Potter, Alistair Bell Organizations: Pakistan International Airlines, PIA, Benazir, REUTERS, Finance, Pakistan International Airlines Co . Ltd, PIAInvestment, European Union's Aviation Safety Agency, International Monetary Fund, Pakistan, Baranjot, Thomson Locations: Islamabad, Pakistan, ISLAMABAD, , New York, Britain, Europe, Bengaluru

☆ Phillips 66 joins rival refiners with sharp profit drop on lower margins
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden, New Jersey, U.S., March 30, 2020. Phillips said realized margins fell to $15.32 per barrel in the second quarter, from $28.62 a year earlier. Despite the fall in margins, fuel demand remains resilient. Phillips 66's crude utilization rate was 93% in the second quarter, higher than 90% a year earlier, while total processed input was unchanged year-over-year at 1.9 million barrels per day (bpd). Phillips 66's second-quarter net income fell to $1.7 billion, or $3.72 per share, from $3.2 billion, or $6.53 per share, in the year-ago quarter.

Persons: Mike Segar, Phillips, Arunima Kumar, Sriraj Organizations: Bayway, REUTERS, Rivals Valero Energy Corp, Marathon Petroleum, Thomson Locations: Phillips, Linden , New Jersey, U.S, Ukraine, Houston, Bengaluru

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

[1/3] Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. REUTERS/Akhtar SoomroKARACHI, July 3 (Reuters) - Pakistan's benchmark share index scored its biggest single-day jump in 15 years on Monday, gaining 5.9% on the first trading session after the country secured a last-gasp funding deal from the International Monetary Fund (IMF). The KSE 100 index (.KSE) closed up 2,442.06 points at 43,894.7, marking its biggest percentage gain since June 24, 2008, when it rose 8.6%, as per Refinitiv data. "Today's gain in the benchmark KSE 100 Index will likely to be highest in the history of Pakistan Stock exchange," it said. Several automakers including Pakistan Suzuki Motor Co (PKSU.PSX) had announced prolonged plant closures in 2023, citing import restrictions.

Persons: Akhtar Soomro, Shehbaz Sharif, Muhammad Iqbal Jawaid, Arif Habib, HCAR, Asif Shahzad, Swati Bhat, Lincoln, David Holmes Organizations: Pakistan Stock Exchange, REUTERS, International Monetary Fund, IMF, Topline Securities, Pakistan Stock, Pakistan, U.S ., Pakistan Suzuki Motor, Honda, Pakistan Suzuki, Indus, Toyota, Auto, Arif, Arif Habib Ltd, Thomson Locations: Karachi, Pakistan, Akhtar Soomro KARACHI

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