Now that the cloud of uncertainty has been removed from the global oil markets, prices can start to move higher. This is good news for McDermott International (NYSE:MDR). The stock was already performing well due to the strong order backlog, wide geographical presence and healthy relations with customers. McDermott’s ability to provide services from design to execution has allowed it to perform better than almost all of its peers in the oilfield services sector. Now that the oil market is finally moving towards sustained recovery, investment in new projects should increase. This should make companies like McDermott International very happy.
There are some differentiating factors that give McDermott International an advantage over its peers. Most important of these factors is strong relations with national oil companies. Historically, it has been a challenge for foreign companies to have healthy relationships with national oil companies in Middle East. Not for McDermott International. In fact, deep relations with these companies has been the key driver behind growing backlog and healthy revenue even in the last two years. Saudi Aramco, the national oil company of Saudi Arabia, accounts for more than 25% of its total revenue. In normal circumstances, such high exposure to one customer will be taken as a negative and a potential threat. However, McDermott’s ability to maintain relationship with customers and extract more revenue from the same customer has allowed it to sail without any problem. It is the company’s capacity to offer full suite of services that has made it indispensable to its customers in the Middle East. Maintaining such a strong position in one of the most volatile regions in the world is a credit to the management’s ability.
Best Performing Stocks To Invest In 2019: Carnival Corporation(CCL)
- [By Chris Lange]
Carnival Corp. (NYSE: CCL) released its fiscal second-quarter financial results early on Monday. The company said that it had $0.68 in earnings per share (EPS) and $4.36 billion in revenue. That compared with consensus estimates of $0.60 in EPS on revenue of $4.32 billion. And in the same period of last year, Carnival said it had EPS of $0.52 and $3.94 billion in revenue.
- [By Paul Ausick]
Carnival Corp. (NYSE: CCL) dropped about 4.5% Tuesday to post a new 52-week low of $60.50. Shares closed at $63.34 on Monday and the stock’s 52-week high is $72.70. Analysts at Morgan Stanley issued a warning that cruise line stocks were headed for a slow fourth quarter this year.
- [By ]
Charles Russell, managing partner at Massif Capital (June 14) — Said to short shares of Norwegian Cruise Line (NCLH) given ample evidence suggesting global demand is unlikely to keep pace with cruise ship capacity between now and 2025. The company would be forced to raise ticket prices on price-sensitive consumers by more than 8% a year to keep pace with its current valuation, and "there is no precedent to suggest that is possible." Russell estimated that NCLH has intrinsic value of less than $26 per share, implying downside of at least 50%. Note that cruise line peer Carnival Corp. (CCL), which has exposure to China, reports earnings later this morning.
- [By Chris Lange]
Carnival Corp. (NYSE: CCL) fiscal first-quarter report is scheduled for Thursday. The consensus forecast is $0.43 in EPS on $4.11 billion in revenue. Shares closed at $66.91 apiece. The consensus price target is $76.94, and the 52-week range is $57.09 to $72.70.
- [By Money Morning Staff Reports]
This is how you could make an easy 100% in the weeks ahead.
Four Stocks to Watch Today: CCL, HOG, GE, AMZN
Harley Davidson (NYSE: HOG) has weighed in on U.S. trade policy. The company said over the weekend that European Union tariffs could fuel an uptick in prices by at least $2,200 per unit. However, the company said in a statement that it does not plan to raise prices as a result. Instead, the firm plans to shift its production intended for EU sales out of the United States.
General Electric (NYSE: GE) is on the verge of selling its industrial division to private equity giant Advent Capital for $3 billion. According to reports, Advent beat out Cummins in a bidding war for the lucrative industrial engine group.
Amazon.com Inc. (Nasdaq: AMZN) is ramping up its Prime grocery store sales. The company’s Whole Foods savings program has expanded nationwide. After a brief trial period in Florida, Prime members can now access deals in every state. It’s bad news for grocery rivals as Amazon continues to expand.
Look for an earnings report from Carnival Corp. (NYSE: CCL). Wall Street analysts project that the cruise line will report earnings per share (EPS) of $0.60 on top of $4.33 billion in revenue.
This Man Can Show You How to Make Money in ANY Market – Bull, Bear, or Sideways
This champion stock picker first gave his readers the chance at fortunes during a huge market crash – Black Monday, August 2011, when the United States’ credit rating was downgraded for the first time in history.
Best Performing Stocks To Invest In 2019: Sanderson Farms Inc.(SAFM)
- [By Stephan Byrd]
Federated Investors Inc. PA cut its position in Sanderson Farms, Inc. (NASDAQ:SAFM) by 71.5% in the first quarter, HoldingsChannel reports. The firm owned 20,286 shares of the company’s stock after selling 51,010 shares during the quarter. Federated Investors Inc. PA’s holdings in Sanderson Farms were worth $2,415,000 at the end of the most recent reporting period.
- [By Ethan Ryder]
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) have been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $111.75.
- [By Lisa Levin] Companies Reporting Before The Bell
Best Buy Co., Inc. (NYSE: BBY) is projected to report quarterly earnings at $0.74 per share on revenue of $8.73 billion.
McKesson Corporation (NYSE: MCK) is expected to report quarterly earnings at $3.56 per share on revenue of $51.25 billion.
Medtronic plc (NYSE: MDT) is estimated to report quarterly earnings at $1.39 per share on revenue of $8.00 billion.
Hormel Foods Corporation (NYSE: HRL) is projected to report quarterly earnings at $0.45 per share on revenue of $2.39 billion.
Brady Corporation (NYSE: BRC) is expected to report quarterly earnings at $0.49 per share on revenue of $291.47 million.
Sanderson Farms, Inc. (NASDAQ: SAFM) is projected to report quarterly earnings at $2.2 per share on revenue of $841.75 million.
The Toronto-Dominion Bank (NYSE: TD) is estimated to report quarterly earnings at $1.16 per share on revenue of $6.86 billion.
Royal Bank of Canada (NYSE: RY) is expected to report quarterly earnings at $1.61 per share on revenue of $8.05 billion.
58.com Inc. (NYSE: WUBA) is projected to report quarterly earnings at $0.21 per share on revenue of $372.49 million.
Luxoft Holding, Inc. (NYSE: LXFT) is estimated to report quarterly earnings at $0.59 per share on revenue of $228.53 million.
The Toro Company (NYSE: TTC) is expected to report quarterly earnings at $1.21 per share on revenue of $916.73 million.
StealthGas Inc. (NASDAQ: GASS) is projected to report quarterly earnings at $0.06 per share on revenue of $37.75 million.
Stage Stores, Inc. (NYSE: SSI) is estimated to report earnings for its first quarter.
Thermon Group Holdings, Inc. (NYSE: THR) is projected to report quarterly earnings at $0.2 per share on revenue of $96.24 million.
Tuniu Corporation (NASDAQ: TOUR) is estimated to report quarterly loss at $0.03 per share on revenue of $76.72 million.
- [By Lisa Levin]
Check out these big penny stock gainers and losers
Recro Pharma, Inc. (NASDAQ: REPH) fell 50.3 percent to $6.17 in pre-market trading after the company received a Complete Response Letter from the FDA. The FDA declined to approve the company’s New Drug Application for IV meloxicam.
Westell Technologies, Inc. (NASDAQ: WSTL) shares fell 16.5 percent to $2.89 in pre-market trading after the company announced Q4 results.
Melinta Therapeutics, Inc. (NASDAQ: MLNT) fell 16.5 percent to $5.20 in pre-market trading after reporting pricing of public offering of common stock.
Westmoreland Resource Partners, LP (NYSE: WMLP) fell 11 percent to $3.49 in pre-market trading after surging 194.03 percent on Wednesday.
Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) shares fell 11 percent to $13.45 in pre-market trading. Petrobras announced plans to lower the cost of diesel by 10 percent.
Sanderson Farms, Inc. (NASDAQ: SAFM) shares fell 9.4 percent to $97 in pre-market trading after the company reported weaker-than-expected results for its second quarter.
Zealand Pharma A/S (NASDAQ: ZEAL) fell 6.9 percent to $15.55 in pre-market trading after rising 2.71 percent on Wednesday.
L Brands, Inc. (NYSE: LB) shares fell 6.7 percent to $31.76 in pre-market trading after the company reported weaker-than-expected earnings for its first quarter. The company issued weak second quarter and FY18 earnings guidance.
ReTo Eco-Solutions, Inc. (NASDAQ: RETO) shares fell 5.9 percent to $4.78 in pre-market trading.
Qiwi plc (NASDAQ: QIWI) fell 5.9 percent to $17.52 in pre-market trading.
Eiger Biopharmaceuticals Inc (NASDAQ: EIGR) fell 5 percent to $13.25 in pre-market trading after reporting a proposed offering of common stock.
Best Buy Co Inc (NYSE: BBY) shares fell 4.3 percent to $72.66 in pre-market trading. Best Buy reported better-than-expected earnings for its first quarter.
NetApp Inc. (NASDAQ: NTAP) fell 4.1 percent to $64.
- [By Lisa Levin]
Tuesday morning, the consumer staples shares surged 0.17 percent. Meanwhile, top gainers in the sector included CV Sciences, Inc. (OTC: CVSI), up 6 percent, and Sanderson Farms, Inc. (NASDAQ: SAFM) up 5 percent.
Best Performing Stocks To Invest In 2019: iShares Morningstar Large-Cap Growth (JKE)
- [By Joseph Griffin]
iShares Morningstar Large Growth (NYSEARCA:JKE) declared a quarterly dividend on Tuesday, June 26th, Wall Street Journal reports. Investors of record on Wednesday, June 27th will be paid a dividend of 0.3796 per share on Monday, July 2nd. This represents a $1.52 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, June 26th. This is a boost from iShares Morningstar Large Growth’s previous quarterly dividend of $0.34.
Best Performing Stocks To Invest In 2019: EP Energy Corporation(EPE)
- [By Lisa Levin]
On Wednesday, the energy shares rose 2.39 percent. Meanwhile, top gainers in the sector included EP Energy Corporation (NYSE: EPE), up 18 percent, and Penn Virginia Corporation (NASDAQ: PVAC) up 23 percent.
- [By Lisa Levin]
Wednesday afternoon, the energy shares rose 2.37 percent. Meanwhile, top gainers in the sector included EP Energy Corporation (NYSE: EPE), up 24 percent, and Penn Virginia Corporation (NASDAQ: PVAC) up 24 percent.
- [By Lisa Levin]
On Wednesday, the energy shares climbed 1.48 percent. Meanwhile, top gainers in the sector included SeaDrill Limited (NYSE: SDRL), up 15 percent, and EP Energy Corporation (NYSE: EPE), up 15 percent.