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☆ U.S. company comments suggest upbeat demand despite gloomy forecasts
▼ + stars: | 2023-04-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The credit card company reported quarterly earnings that missed analysts' expectations, however, as it kept aside a large sum to cover potential defaults. That would mark the second straight quarterly fall for corporate earnings, a so-called "earnings recession" that last occurred when COVID-19 hit corporate results in 2020. Moreover, in aggregate, companies are reporting earnings 7.8% above expectations, compared with a 4.2% average for the prior four quarters. Baker Hughes Co. (BKR.O) said in a presentation this week that the energy outlook remained constructive even with elevated recession risks. Both Delta (DAL.N) and United (UAL.O) gave upbeat near-term outlooks on travel demand, with Delta a week ago saying it expects summer travel demand will result in higher-than-expected profit for the quarter through June despite other risks.

☆ Oilfield firm Baker Hughes beats profit estimate
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Baker Hughes (BKR) is seen in this image provided July 21, 2020. Baker Hughes/Handout via REUTERSApril 19 (Reuters) - Oilfield technology firm Baker Hughes Co (BKR.O) beat first-quarter profit estimates on Wednesday, boosted by higher demand for its services from oil and natural gas producers looking to cash in on a recovery in China and strong prices. The average North America rig count for the quarter stood at 948, 12% higher than the previous year, as per Baker Hughes data. Baker Hughes kicks off first-quarter earnings for the oilfield services industry. Industry leader SLB (SLB.N) is expected to report quarterly results on Friday and Halliburton Co (HAL.N) on Tuesday.

☆ Futures retreat as Treasury yields rise, Tesla slides
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +3 min

Netflix Inc (NFLX.O) slipped 1.6% after the video-streaming pioneer beat Wall Street earnings estimates for the first quarter but offered a downbeat forecast. ET (1800 GMT), and investors will scrutinize it for impact on the recent banking crisis on economic activity. ET, Dow e-minis were down 165 points, or 0.48%, S&P 500 e-minis were down 25.5 points, or 0.61%, and Nasdaq 100 e-minis were down 120.75 points, or 0.92%. Western Alliance Bancorp (WAL.N) rallied 15.5% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis. Shares of banks First Republic Bank (FRC.N), Zions Bancorporation (ZION.O) and Pacwest Bancorp (PACW.O) rose between 1.1% and 4.1% in premarket trade.

[1/2] The logo of Baker Hughes (BKR) is seen in this image provided July 21, 2020. Baker Hughes/Handout via REUTERSApril 19 (Reuters) - Oilfield firm Baker Hughes Co (BKR.O) beat first-quarter profit estimates on Wednesday, as stronger oil prices supported demand for its equipment and services. Shares of Baker Hughes were up 1.4% in pre-market trading at $29.90 each. Revenue from Baker's Oilfield Services & Equipment business rose 19% year-over-year, while sales in its Industrial & Energy Technology business grew by 18%. Baker Hughes kicks off first-quarter earnings for the oilfield services industry.

☆ Earnings from Club consumer, health and bank stocks will be our main focus in the week ahead
▼ + stars: | 2023-04-15 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Corporate earnings won't have to share the spotlight with major inflation data in the week ahead as they did during this past week's up-and-down market. From Morgan Stanley, we suspect Friday's bank earnings foreshadow a good release. This past week, we spoke about the importance of listening to what industry players aside from those you're invested in as a way to analyze the competitive landscape. Here are some of those other earnings reports and the economic numbers out in the week ahead. Club trades of the week We made just one trade this past week, in a market that was overbought , purchasing 25 shares of Palo Alto Networks (PANW).

Companies Baker Hughes Co FollowApril 10 (Reuters) - Oil prices were roughly unchanged on Monday as investors weighed the prospect of tighter supplies from OPEC+ producers from May against concerns about weakening global growth that may dampen fuel demand. The group known as OPEC+ will be cutting mostly sour crude supplies from Middle East producers led by Saudi Arabia. Following the announcement, the world's top oil exporter raised its May crude prices to term customers in Asia and the United States. Separately, investors are watching the progress of talks between Iraq and Kurdistan to restart northern oil exports which could bring more sour crude to the global market. Sharp rate hikes have boosted the greenback, making dollar-denominated commodities such as oil more expensive for investors holding other currencies.

☆ Oil steady as investors weigh tighter supply vs. growth outlook
▼ + stars: | 2023-04-10 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

Companies Baker Hughes Co FollowSINGAPORE, April 10 (Reuters) - Oil prices were roughly unchanged on Monday as investors weighed the prospect of tighter supplies from OPEC+ producers from May against concerns about weakening global growth that may dampen fuel demand. The group known as OPEC+ will be cutting mostly sour crude supplies from Middle East producers led by Saudi Arabia. Following the announcement, the world's top oil exporter raised its May crude prices to term customers in Asia and the United States. Separately, investors are watching the progress of talks between Iraq and Kurdistan to restart northern oil exports which could bring more sour crude to the global market. Sharp rate hikes have boosted the greenback, making dollar-denominated commodities such as oil more expensive for investors holding other currencies.

☆ Oil edges higher on prospect of tighter supplies
▼ + stars: | 2023-04-10 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

Companies Baker Hughes Co FollowSINGAPORE, April 10 (Reuters) - Oil prices nudged higher in early Asian trade on Monday, supported by the prospect of tighter supplies from OPEC+ producers from May, but concerns about the global economic outlook capped gains. The group known as OPEC+ will be cutting mostly sour crude supplies from Middle East producers. Following the announcement, top exporter Saudi Arabia raised its May crude prices to term customers in Asia and the United States. Separately, investors are watching the progress of talks between Iraq and Kurdistan to restart northern oil exports which could bring more sour crude to the global market. Sharp rate hikes have boosted the greenback, making dollar-denominated commodities such as oil more expensive for investors holding other currencies.

Big gas producers including Chesapeake Energy Corp (CHK.O) and Comstock Resources Inc (CRK.N) are reducing their drilling. "About a third of U.S. gas production is associated gas - produced from oil wells," said Jacques Rousseau, a managing director at research firm ClearView Energy Partners LLC. Gas from the Permian also has climbed to record highs every month this year. PRODUCTION REMAINS STICKYU.S. gas production remains on track to hit 100.67 billion cubic feet per day (bcfd) this year, up from last year's record 98.09 bcfd, according to the U.S. government. Despite low gas prices, U.S. drillers have 160 rigs seeking gas up 16% from a year ago, according to data from Baker Hughes Co (BKR.O).

March 31 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs, with the quarterly count dropping for the first time since 2020, energy services firm Baker Hughes Co (BKR.O) said in its closely followed report on Friday. U.S. oil rigs fell one to 592 this week, while gas rigs decreased two to 160. For the month, the total oil and gas rig count rose two rigs, the first monthly increase since November. For the quarter, the total oil and gas rig count fell by 24 rigs, the first quarterly decline since the third quarter of 2020. The drop in gas prices has already caused some exploration and production companies, including Chesapeake Energy Corp (CHK.O), Southwestern Energy Co (SWN.N) and Comstock Resources Inc (CRK.N), to announce plans to reduce production by cutting some gas rigs.

☆ Oil prices climb in relief rally as banking concerns ease
▼ + stars: | 2023-03-27 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, March 27 (Reuters) - Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe. The rise in oil prices was more a relief rally and part of a correction after a 16% fall in the prior two weeks, he added. Prices were also supported after President Vladimir Putin said he will station tactical nuclear weapons in Belarus, escalating geopolitical tensions in Europe over Ukraine. Russia's Deputy Prime Minister Alexander Novak said on Friday that Moscow was very close to achieving its target of cutting crude output by 500,000 barrels per day (bpd) to around 9.5 million bpd. Despite lowering output, Russia is expected to maintain crude oil exports by cutting refinery output in April, data from industry sources and Reuters calculations showed on Friday.

☆ Oil markets steady as investors weigh banking crisis, Russia
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: +3 min

Oil markets are closely watching the sentiment in financial market, while oil fundamentals remain sidelined, said Vandana Hari, founder of oil market analysis provider Vanda Insights. A stronger dollar makes dollar-denominated commodities more expensive for holders of other currencies and tends to weigh on demand for oil. Despite lowering output, Russia is expected to maintain crude oil exports by cutting refinery output in April, data from industry sources and Reuters calculations showed on Friday. Exports of Russian oil products have to date been more affected than crude exports by a recent European Union embargo, with tonnes of diesel stuck on ships awaiting buyers. Analysts said Russian crude inventories have been rising since September last year, and the country would likely want to avoid further stockbuilds during refinery maintenance season from March to June.

☆ Here are Wednesday's biggest analyst calls: Charles Schwab, Meta, Nike, Netflix, Truist, FedEx & more
▼ + stars: | 2023-03-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Oppenheimer reiterates Netflix as outperform Oppenheimer said investors should buy the dip in Netflix shares. Bank of America upgrades W.R. Berkley to buy from neutral Bank of America said buy the dip in shares of the insurance company. "A recent sell-off in financial and insurers more specifically gives an opportunity to upgrade shares of WRB." Deutsche Bank reiterates Nike as buy Deutsche said it's staying bullish on shares of Nike heading into earnings next week. Bank of America reiterates FedEx as buy Bank of America said it's standing by its buy rating on FedEx heading into earnings on Thursday.

☆ Crude prices rise slightly on China recovery, weaker dollar
▼ + stars: | 2023-03-13 | by ( Andrew Hayley | ) www.reuters.com time to read: +3 min

BEIJING, March 13 (Reuters) - Oil prices ticked up in Monday's Asian trade, reversing a weak start as a recovery in Chinese demand and a weaker dollar provided support to a market rattled by the prospect possible further U.S. interest rate increases. After initially slipping in early trading, Brent crude futures were up 25 cents, or 0.30%, to $83.03 per barrel by 0700 GMT. West Texas Intermediate crude futures (WTI) ticked up by 23 cents, or 0.30%, to $76.91 a barrel. A weaker dollar makes oil cheaper for holders of other currencies, lending support to oil prices. Comments on Sunday from Saudi Aramco CEO Amin Nasser on crude demand from China also provided some support.

☆ Oil prices tick up on China demand and weaker dollar
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

BEIJING, March 13 (Reuters) - Oil prices ticked up in Monday Asian late morning trade, reversing a weak start as a recovery in Chinese demand and a weaker dollar provided support to a market rattled by the prospect possible further U.S. interest rate increases. West Texas Intermediate crude futures (WTI) ticked up by 20 cents, or 0.26%, to $76.88 a barrel. "From an oil trader's perspective, the U.S. dollar should pull back as traders give up on a re-acceleration of Fed hikes; this, in turn, clears a path for more robust Chinese fundamentals to dominate commodity trading," Innes added. A weaker greenback makes oil cheaper for holders of other currencies, lending support to oil prices. Comments on Sunday from Saudi Aramco CEO Amin Nasser on crude demand from China also provided some support.

☆ Oil prices slip as concerns over rate hikes rattle investors
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 13 (Reuters) - Oil prices slipped in Monday Asian morning trade as concerns about possible further U.S. interest rate hikes continue to rattle investors, though a recovery in Chinese demand and a weaker dollar provided some support. Market sentiment was fragile as worries about further monetary tightening by the Fed have been exacerbated by high crude oil inventories in the U.S., analysts from ANZ Bank observed in a note on Monday morning. A weaker greenback , which makes oil cheaper for holders of other currencies, helped lend support to oil prices. The dollar index was down 0.2% in Asian morning trade on Monday. Comments on Sunday from Saudi Aramco CEO Amin Nasser on crude demand from China also provided some support.

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Generac, Coinbase, Meta, Roku, Roblox & more
▼ + stars: | 2023-02-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: Bernstein reiterates Tesla as underperform Bernstein said Tesla sharers remain overvalued. Loop reiterates Apple as buy Loop said it sees attractive iPhone revenue upside for Apple. Canaccord upgrades Generac to buy from hold Canaccord said it sees "storm clouds breaking" for shares of Generac. JPMorgan reiterates Roku as overweight JPMorgan said it's standing by shares of Roku after the company's earnings results on Wednesday. " Bernstein reiterates Meta as outperform Bernstein kept its outperform rating on the social media giant and says it likes the company's "clear cost takeout plan."

☆ Factbox: Bumper profits fuel surge in dividends, buybacks at oil firms
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +4 min

Feb 3 (Reuters) - Energy firms are using a chunk of their bumper quarterly profits from surging natural gas and fuel prices to reward shareholders with higher dividends and share buybacks. The top 25 North American oil and gas companies by market capital posted a combined profit of $70.04 billion for the quarter ended Sept. 30, 186.3% higher than a year earlier, according to Refinitiv data. However, the record profits have renewed calls for a windfall tax, especially as sky-rocketing prices have fueled inflation around the globe. Below are some of the companies that have announced higher dividends and repurchases in recent weeks:Valero Energy Corp (VLO.N)Dividend: Increased quarterly dividend by 4.1% to $1.02 per shareNet Income in latest quarter: More than tripled to $3.11 billionExxon Mobil Corp (XOM.N)Dividend: Q4 per-share dividend of 91 cents, up 3 centsNet Income in latest quarter: Jumped 43.7% to $12.75 billionChevron Corp (CVX.N)Dividend: Raised quarterly dividend by 9 cents to $1.51 per shareShare buyback: Approves a $75 billion buyback programNet Income in latest quarter: Jumped 25.6% to $6.35 billionConocoPhillips (COP.N)Dividend: Declares variable dividend of 60 cents per shareShare buyback: Raised existing share repurchase authorization by $20 billionNet Income in latest quarter: Rose 23% to $3.2 billionCHESAPEAKE ENERGY CORP (CHK.O)Dividend: Increased total quarterly dividend to $3.16/shr from $2.32/shrNet Income in latest quarter: Stood at $883 mln, compared with $345 mln year-ago lossBAKER HUGHES CO (BKR.O)Dividend: Increased quarterly dividend by 5.5% to 19 cents per shareShare buyback: Authorized an additional $2 blnNet Income in latest quarter: Fell 38.1% to $182 millionSLB (formerly Schlumberger) (SLB.N)Dividend: Increased quarterly cash dividend 43% to $0.25 per shareShare buyback: Resumed share repurchase programNet Income in latest quarter: Rose 77.2% to $1.07 billionMarathon Petroleum Corp (MPC.N)Share buyback: Approved an additional $5 billion in stock repurchasesNet Income in latest quarter: Rose 329.1% to $3.32 billionPhillips 66 (PSX.N)Share buyback: Plans to return up to $12 bln more to shareholders by end-2024 through dividends and buybacksNet Income in latest quarter: Jumped 1241% to $5.4 billionMarathon Oil Corp (MRO.N)Dividend: Expects to raise base dividend by an additional 11% after closing the purchase of EnsignNet Income in latest quarter: Climbed 344% to $817 millionEOG Resources Inc (EOG.N)Dividend: Raised regular dividend by 10%, $1.50/shr special dividendNet Income in latest quarter: Rose 160.6% to $2.85 billionAPA Corp (APA.O)Dividend: Doubled quarterly dividend to an annualized rate of $1.00/shrNet Income in latest quarter: Stood at $422 million, compared with a loss of $113 millionCOTERRA ENERGY INC (CTRA.N)Dividend: Increased dividend by 3 cents to 68 cents/shrNet Income in latest quarter: Surged 1768.75% to $1.2 billionPATTERSON-UTI (PTEN.O)Dividend: Doubled quarterly cash dividend to 8 cents/shrShare buyback: Increased share repurchase authorization to $300 millionNet Income in latest quarter: Rose 181% to $61.5 millionTEXAS PACIFIC LAND CORP (TPL.N)Share buyback: Approved purchase of up to $250 mln worth of sharesNet Income in latest quarter: Rose 55% to $129.8 mlnCANADIAN NATURAL RESOURCES LTD (CNQ.TO)Dividend: Raised quarterly dividend by 13% to 85 Canadian cents/shrNet Income in latest quarter: Rose 27.7% to C$2.81 blnCenovus Energy Inc (CVE.TO)Dividend: Announced a variable dividend of C$0.114Share buyback: Plans to renew repurchase programNet Income in latest quarter: Climbed 192% to C$1.61 blnIMPERIAL OIL (IMO.TO)Dividend: Raised quarterly dividend by 29% to 44 Canadian cents/shrShare buyback: Announced a C$1.5 bln substantial issuer bid to buy back sharesNet Income in latest quarter: Rose 123.6% to C$2.03 blnTOURMALINE OIL CORP (TOU.TO)Dividend: Announced a special dividend of C$2.25/shr; raised quarterly dividend by 11% to 25 Canadian cents/shrNet Income in latest quarter: Rose 481% to C$2.09 blnReporting by Sourasis Bose, Ankit Kumar and Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Goldman predicts clean hydrogen will be a $1 trillion market. Here's how to play it.
▼ + stars: | 2023-01-27 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

In the race to reduce global carbon emissions to zero, clean hydrogen is increasingly expected to be a winner. As the costs of renewable power falls, green hydrogen is becoming a better solution to decarbonization, Goldman said. How to play it Goldman said buy-rated First Solar is among the key players in the generation of green hydrogen. Experts say the tax credit makes nuclear hydrogen highly competitive with fossil fuel produced hydrogen, as companies can look to make clean hydrogen without losing any money. Goldman identified both Air Products & Chemicals and Linde as integrated clean hydrogen supply chain players.

☆ Oil prices settle lower on stronger supply outlook
▼ + stars: | 2023-01-27 | by ( ) www.cnbc.com time to read: +2 min

OPEC+ has recently hinted it could impose deeper output cuts to spur a recovery in crude prices. Oil prices settled lower on Friday, making their weekly finish flat to lower, as indications of strong Russian oil supply offset better-than-expected U.S. economic growth data, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. U.S. crude fell $1.33, or 1.6 %, to settle at $79.68, 2% lower on the week. "If Russian supply remains strong heading into next month, oil is probably going to continue to trend lower," said John Kilduff, partner at Again Capital LLC in New York. He added that profit taking ahead of the weekend may also have driven prices lower.

☆ Halliburton tops Wall St. quarterly profit estimates
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

Jan 24 (Reuters) - Halliburton Co (HAL.N) surpassed Wall Street profit estimates for the fourth quarter on Tuesday, wrapping up a mixed season for the world's top oilfield services providers as elevated oil prices through 2022 encouraged drilling activity and boosted demand for its drilling services and equipment. Brent crude averaged $88.62 a barrel during the fourth quarter, up about 11% from a year earlier, as sanctions on large oil producer Russia for its invasion of Ukraine have upended global supply routes. Market leader Schlumberger (SLB.N) beat Wall Street estimates for fourth-quarter profit. Baker Hughes (BKR.O) missed both quarterly profit and revenue estimates on Monday and said the global economy is expected to experience inflationary pressures and tightening monetary conditions. Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street extends rally, powered by tech bounce
▼ + stars: | 2023-01-23 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

All three major stock indexes extended Friday's gains, with the tech-heavy Nasdaq leading the pack, boosted by semiconductor shares (.SOX). Of the 11 major S&P 500 sectors, all but energy (.SPNY) ended green, with tech shares (.SPLRCT) enjoying the largest percentage gain, up 2.3% on the session. The fourth-quarter reporting season has shifted into overdrive, with 57 of the companies in the S&P 500 having posted results. Analysts now see S&P 500 fourth-quarter earnings, on aggregate, dropping 3% year-on-year, nearly twice as steep as the 1.6% annual drop seen at the beginning of the year, per Refinitiv. The S&P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 82 new highs and 19 new lows.

☆ Wall Street surges, powered by tech rebound
▼ + stars: | 2023-01-23 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"No one wants to be watching from the sideline with a bunch a cash as the market gets away from them." All 11 major sectors in the S&P 500 were higher, with tech (.SPLRCT) up the most, jumping 2.8%. Fourth-quarter reporting season has shifted into overdrive, with 57 of the companies in the S&P 500 having posted results. Of those, 63% have delivered better than expected earnings, according to Refinitiv. The S&P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 66 new highs and 14 new lows.

All of the 11 major S&P 500 sector indexes were up by early afternoon trading, with a 2.5% rise in tech stocks (.SPLRCT) making them the biggest gainers. "All those names and sectors (chipmakers) in general just got beat up much more than the market in general overall. So now in a lot of those names, there's value," said Jimmy Lee, chief executive officer of Wealth Consulting Group. Xylem Inc (XYL.N) dropped 8.74% on its acquisition of water treatment solutions firm Evoqua Water Technologies Corp (AQUA.N) in a $7.42 billion deal. Advancing issues outnumbered decliners by a 3.40-to-1 ratio on the NYSE and by a 1.90-to-1 ratio on the Nasdaq.

☆ Wall Street rises as chipmakers lead tech shares higher
▼ + stars: | 2023-01-23 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

Six of the 11 major S&P 500 sector indexes were up in early trading, with a 1.3% rise in tech stocks (.SPLRCT) making them the biggest gainers. "All those names and sectors (chipmakers) in general just got beat up much more than the market in general overall. Analysts now expect fourth-quarter earnings from S&P 500 companies to fall 2.9%, according to IBES Refinitiv data, compared with a 1.6% drop at the beginning of the year. Investors are also awaiting January manufacturing and fourth-quarter GDP data to assess the impact of the Fed's rate hikes on the economy. Advancing issues outnumbered decliners by a 2.05-to-1 ratio on the NYSE and by a 1.60-to-1 ratio on the Nasdaq.

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