Business


Never favoured demonetisation, suggested alternatives: Raghuram Rajan Never favoured demonetisation, suggested alternatives: Raghuram Rajan
- September 03, 2017

In his interview with Times of India, Rajan pointed out that at no point during his tenure, RBI was asked to make a decision on demonetisation although it was consulted on the issue. Raghuram Rajan returned to academia after his term as governor which ended on September 3 previous year. Rajan now teaches economics at University of Chicago. (more...)
Occidental Petroleum Corporation (OXY) Stock Rating Lowered by Zacks Investment Research Occidental Petroleum Corporation (OXY) Stock Rating Lowered by Zacks Investment Research
- September 03, 2017

Clear Harbor Asset Management LLC now owns 6,737 shares of the oil and gas producer's stock valued at $427,000 after buying an additional 1,500 shares in the last quarter. According to Zacks , "Shares of Occidental Petroleum have lost in the last 12 months, wider than the industry's loss over the same period". ORCL's profit will be $2.28B for 23.01 P/E if the $0.55 EPS becomes a reality. (more...)
Gas prices spiking in Tennessee; analysts point to Hurricane Harvey Gas prices spiking in Tennessee; analysts point to Hurricane Harvey
- September 03, 2017

And second, and most importantly is the pipeline that moves gasoline from the Gulf Coast refineries throughout the South is being shut down because of Hurricane Harvey . Additionally, DOE released 500,000 barrels of oil from the U.S. Strategic Petroleum Reserve - the nation's reserve of crude oil. But not all of it can be withdrawn. (more...)
Harvey's impact on local gas minimal Harvey's impact on local gas minimal
- September 03, 2017

At $2.40 per gallon, on Wednesday, August 30, 2017, AAA confirmed the national gas price average was six cents more expensive on the week, and one of the largest one-week increases recorded this summer. But much energy infrastructure remained off line, including the largest USA refinery, the 603,000 bpd facility in Port Arthur, Texas , owned by Motiva Enterprises LLC [MOTIV.UL]. (more...)
Zurcher Kantonalbank Zurich Cantonalbank Reduces Stake in Archer-Daniels-Midland Company (ADM)
- September 03, 2017

Nippon Life Insurance Co. cut its position in shares of Archer-Daniels-Midland Company (NYSE: ADM ) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). Rhumbline Advisers accumulated 0.12% or 1.03 million shares. (NASDAQ:QCOM). Grantham Mayo Van Otterloo And Limited Company holds 2.39% of its portfolio in QUALCOMM, Inc. (more...)
Local drivers seeing spike in gas prices from Hurricane Harvey Local drivers seeing spike in gas prices from Hurricane Harvey
- September 03, 2017

Several refineries were forced to temporarily shut down, pinching gas supplies for the rest of the country. One convenience store in Houston reportedly charged $20 for a gallon of gas, $8.50 for a bottle of water and $99 for a case of water, according to the Texas Attorney General's office. (more...)
Theresa May's vow to fight the next election changes nothing Theresa May's vow to fight the next election changes nothing
- September 03, 2017

But a handful of Tories did get behind the prime minister in public after she told reporters in Japan that she was "in this for the long term". But Boris Johnson, the foreign secretary, who is viewed as a potential candidate in any Tory leadership contest, said the prime minister had his "undivided backing". (more...)
North Korea is close to having the capability to launch long-range missiles North Korea is close to having the capability to launch long-range missiles
- September 03, 2017

A decision by Washington earlier this year to station the Gray Eagle attack drone, capable of carrying four Hellfire air-to-surface missiles, at the Kunsan Air Base near Seoul by 2018 fuelled speculation that the United States could target the North Korean leadership during a military escalation. (more...)
Trump taps emergency United States oil reserve after Harvey Trump taps emergency United States oil reserve after Harvey
- September 03, 2017

Thirteen Gulf Coast refineries have been shut down or are in the process of shutting, while several others are operating at reduced rates, according to the most recent information from S&P Global Platts. The port's shipping channel has reopened and refineries in the area are expected to resume production within a few days. "A friend of the family advised me to fill up yesterday because he thought gas prices would go up because of Hurricane Harvey ". (more...)
Oil markets roiled as Harvey hits USA petroleum industry Oil markets roiled as Harvey hits USA petroleum industry
- September 03, 2017

But that number should rise, since the Texas Gulf Coast is home to almost a quarter of the country's gasoline production. US West Texas Intermediate (WTI) crude futures were at United States dollars 46.35 per barrel at 0155 GMT, down 9 cents from their last close. (more...)
Harvey May Cut US Economic Growth as It Boosts Gasoline Prices Harvey May Cut US Economic Growth as It Boosts Gasoline Prices
- September 03, 2017

Oil futures edged up and gas futures extended their gains on Thursday as the disruption from Hurricane Harvey complicated the flow of US crude exports. Now tropical storm Harvey has ravaged Houston, home to several major us refineries, and other parts of Texas. While much of the region's refining infrastructure still remained offline from Harvey, which made landfall as a Category 4 hurricane last week, the restarts were a first step in alleviating concerns about US fuel supplies. (more...)
Motorists seeing sharply higher gas prices in New Jersey Motorists seeing sharply higher gas prices in New Jersey
- September 03, 2017

Motorists were lining up for gasoline in Dallas, where prices jumped from an average $2.37 per gallon Thursday to $2.52 per gallon by Friday, according to AAA . The average pump price in Buffalo is now up 18 cents per gallon from two months ago. The Department of Energy has also released 500,000 barrels of oil from the nation's reserve of crude oil. (more...)
Could Crude Oil Futures Rise Due to Short Covering? Could Crude Oil Futures Rise Due to Short Covering?
- September 03, 2017

Commodities strategists at Bank of America Merrill Lynchworry that it could happen again, with the global benchmark getting dragged down by the impact of Tropical Storm Harvey on USA crude prices. At the Multi Commodity Exchange, crude oil for delivery in September traded at Rs 29, or 0.95 per cent lower, at Rs 3,009 a barrel in 4,136 lots. OPEC producers including Russian Federation have pledged to hold back about 1.8 million barrels per day (bpd) of output between January this year and ... (more...)
Strong data boosts yields, dollar; stocks edge higher Strong data boosts yields, dollar; stocks edge higher
- September 03, 2017

Wall Street got a boost on Wednesday when data showed the US economy grew at an upwardly revised 3 percent annualised pace in the second quarter, courtesy of robust consumer spending and strong business investment. The dollar index, which measures the greenback against a basket of six major currencies, was 0.65 percent higher at 92.852. The ECB is set to hold a policy meeting next week. (more...)
Delphi Automotive plc Ordinary (DLPH) Reached a 52-Week High
- September 03, 2017

The shares were purchased at an average price of $91.35. It has underperformed by 20.00% the S&P500. The value of the company's investment in Delphi Automotive plc Ordinary went from $4,977,000 to $2,294,000 a change of $2,683,000 since the last quarter. (more...)
Retail US gasoline prices surge on Harvey supply disruptions Retail US gasoline prices surge on Harvey supply disruptions
- September 03, 2017

According to AAA , the average price of regular unleaded gas across the state has jumped 3 cents in the past week to $2.53 per gallon. As the storm moves toward the Texas-Louisiana border from its present location over the Gulf of Mexico, Motiva Enterprises LLC's Port Arthur facility, the largest in the US, remains open but is running at 60% capacity with supply issues, spokeswoman Angela Goodwin said. (more...)
Kinder Morgan, Inc. (KMI) Shares Sold by JRM Investment Counsel LLC
- September 03, 2017

The stock increased 5.45% or $0.011 on September 1, reaching $0.205. Geode Capital Management LLC now owns 18,346,909 shares of the pipeline company's stock worth $398,283,000 after buying an additional 1,309,520 shares during the last quarter. (more...)
Guidewire Software, Inc. (GWRE) Receives Average Recommendation of "Buy" from Analysts
- September 03, 2017

It has underperformed by 5.84% the S&P500.The move comes after 5 months negative chart setup for the $5.61 billion company. Courage Capital Management Llc decreased Yahoo Ord Shs (YHOO) stake by 31.94% reported in 2016Q4 SEC filing. Guidewire Software has set its Q4 guidance at $0.36-0.40 EPS. As per Friday, December 2, the company rating was downgraded by Piper Jaffray. The firm has "Hold" rating by Stifel Nicolaus given on Friday, June 2. (more...)
Some in Wichita worry about price gouging in wake of Harvey Some in Wichita worry about price gouging in wake of Harvey
- September 03, 2017

Some people even predicted that some gas stations would take advantage of the awful situation and gouge customers. The devastation from Harvey has impacted many. Prices locally range from $2.44 for unleaded to $2.89 for premium . Friday the local average for regular unleaded was $2.29, but some at least one area stations it cost $2.59 a gallon. (more...)
Jefferies Group Analysts Boost Earnings Estimates for Premier Oil PLC (PMOIY)
- September 03, 2017

It has underperformed by 16.70% the S&P500. Tullow Oil PLC (LON:TLW) was a big faller today after Jefferies International downgraded its rating for the mid-cap oil producer to "hold" from "buy" as part of a review of the exploration & production sector. (more...)
PM picked new faces to deliver on his new India vision PM picked new faces to deliver on his new India vision
- September 03, 2017

Former IAS officer Alphons Kannanthanam (64), who hails from Kerala, is another pick by Modi, a move seen as the BJP's efforts to expand its base in the southern state to take on the ruling Left Democratic Front led by the CPI (M). Like finance minister Arun Jaitley was holding the additional charge of the defence ministry, science and technology minister Dr Harsh Vardhan was looking after environment ministry and rural development minister Narendra Singh Tomar was also taking care of urban ... (more...)
PM picked new faces to deliver on his new India vision PM picked new faces to deliver on his new India vision
- September 03, 2017

Former IAS officer Alphons Kannanthanam (64), who hails from Kerala, is another pick by Modi, a move seen as the BJP's efforts to expand its base in the southern state to take on the ruling Left Democratic Front led by the CPI (M). Like finance minister Arun Jaitley was holding the additional charge of the defence ministry, science and technology minister Dr Harsh Vardhan was looking after environment ministry and rural development minister Narendra Singh Tomar was also taking care of urban ... (more...)
Hurricane Harvey Could Impact Gas Prices Hurricane Harvey Could Impact Gas Prices
- September 03, 2017

Average retail gasoline prices in Wyoming have fallen 2.0 cents per gallon in the past week, averaging $2.34/g yesterday, according to GasBuddy's daily survey of 494 gas outlets in Wyoming . At this time a year ago, the average price of gas was $2.11 per gallon. In an interview with the Texas Tribune Thursday, Ryan Sitton, commissioner of the Railroad Commission of Texas, which regulates gas and oil in the state, said 15 fuel refineries in the Gulf Coast area have been taken ... (more...)
The Kraft Heinz Company The Kraft Heinz Company
- September 03, 2017

Blue Ridge Capital L.L.C. owned 0.14% of The Kraft Heinz worth $151,199,000 at the end of the most recent reporting period. Fisher Asset Management boosted its stake in The Kraft Heinz by 0.3% in the Q1. The business's revenue was down 1.7% on a year-over-year basis. The difference between the expected and actual EPS was $0.05/share, which represents an Earnings surprise of 6.2%. (more...)
Brokers Issue New Targets On Transdigm Group Incorporated (NYSE:TDG)
- September 03, 2017

Bank of America Corp (NYSE:BAC) has risen 58.64% since August 31, 2016 and is uptrending. It has underperformed by 2.62% the S&P500. Oskie Capital Management Llc decreased Transdigm Group Inc (TDG) stake by 81.65% reported in 2016Q4 SEC filing. (more...)