Support is building within the OPEC to extend its oil production cuts beyond June.
Senior Gulf officials tell CNNMoney a proposal is in the works. It is said to have the support of a key OPEC committee that is responsible for monitoring countries, and ensuring they are complying with an agreement to reduce oil output.
“There is no formal proposal from Saudi Arabia but one is taking shape in the monitoring committee,” one official said. “There’s strong support in the monitoring committee.”
The options on the table are whether to extend the cuts by three months or six, the official said. Oil prices have been rising for a week on speculation about the cuts.
In December, OPEC and non-OPEC producers agreed to cut output by 1.8 million barrels per day for six months to help stabilize oil prices. The monitoring committee, led by Kuwait, which consists of both OPEC and non-OPEC members said last month it has been satisfied with the compliance levels.
Hot High Tech Stocks For 2018: USG Corporation(USG)
- [By Jon C. Ogg]
USG Corp. (NYSE: USG) was reiterated as Hold but the price target was raised to $35 from $29 (versus a $34.23 close) at Jefferies.
Thursday’s top analyst upgrades and downgradesincluded Biogen, Goldcorp, GoPro, Oracle, Sirius XM, Tyson Foods, Ciena and many more.
- [By The Ticker Tape]
Homebuilders like Lennar, PulteGroup, Inc. (NYSE: PHM), and D.R. Horton, Inc. (NYSE: DHI) could benefit from a strengthening housing recovery. If you’re bullish on housing, you might want to take a step back and think about other companies in that space. Home improvement stores like Home Depot Inc (NYSE: HD) and Lowe's Companies, Inc. (NYSE: LOW) could get a boost as well as companies that supply products for new homes like Whirlpool Corporation (NYSE: WHR) and USG Corporation(NYSE: USG).
Hot High Tech Stocks For 2018: Textainer Group Holdings Limited(TGH)
- [By Joseph Hogue]
There is one particular shipping company of which investors are being especially fearful, to the point of hating it. I'm talking about Textainer Group Holdings (NYSE: TGH), a container leasing company with 2.6 million 20-foot equivalent containers, the largest fleet among its peers.
Hot High Tech Stocks For 2018: MFRI Inc.(MFRI)
- [By Jim Robertson]
On Wednesday, our Under the Radar Moversnewsletter suggestedsmall cap piping systems stock MFRI, Inc (NASDAQ: MFRI) as a short-term long/bullish trade:
Hot High Tech Stocks For 2018: Isle of Capri Casinos Inc.(ISLE)
- [By Lee Jackson]
Isle of Capri Casinos Inc. (NASDAQ: ISLE) had the president of the company selling some stock. Arnold Block parted with 63,648 shares of the gaming company at $26.20 per share. The total for the sale cameto $2 million. He was joined by CEO Eric Hausler and the chief legal officer, Edmund Quatmann, who together sold 163,949 shares forbetween $26.02 and $26.26. Their trades totaled $4 million.The shares closed on Friday at $25.45, so well-timed trades indeed.The 52-week trading range is $13.01 to $26.89, and the consensus price objective is $23.
- [By Lisa Levin]
Isle of Capri Casinos (NASDAQ: ISLE) shares shot up 30 percent to $22.03. Eldorado Resorts, Inc. (NYSE: ERI) and Isle of Capri Casinos, Inc. struck a merger deal through which the former would buy the latter for $23 a share in cash or 1.638 shares.
- [By Lisa Levin]
Isle of Capri Casinos (NASDAQ: ISLE) reported better-than-expected earnings for its fourth quarter on Tuesday.
The company posted adjusted earnings of $0.62 per share on revenue of $264.9 million. However, analysts were expecting earnings of 0.54 per share on revenue of $266.8 million.
Hot High Tech Stocks For 2018: Ocean Power Technologies Inc.(OPTT)
- [By Lisa Levin]
Ocean Power Technologies Inc (NASDAQ: OPTT) shares shot up 44 percent to $2.64. On Friday, Ocean Power Technologies reported the deployment of its PB3 PowerBuoy in Japan.