Related MRO 8 Biggest Price Target Changes For Friday Benzinga's Top Upgrades, Downgrades For March 10, 2017 When Oil Comes To Life (Seeking Alpha)
Marathon Oil Corporation (NYSE: MRO) was upgraded from Neutral to Positive at Susquehanna on Friday after the oil giant sold off its Canadian subsidiary for $2.5 billion and bought 71,000 acres of oil fields in New Mexico for $1.1 billion.
Analyst Biju Perincheril maintains a $19 price target for Marathon shares.
The purchase of acreage in the Permian Basin follows Marathon’s 2016 acquisition of PayRock and is “another step in the right direction to address the depth of economic inventory at current commodity prices,” Perincheril said in a note.
Top 5 Canadian Stocks To Watch Right Now: Wells Fargo & Company(WFC)
- [By Diane Alter]
Stocks across the board were up following Mnuchin’s appointment and his ambitious pledges. Bank stocks did particularly well. While Goldman Sachs stock was up more than 3% this morning, JPMorgan Chase & Co. (NYSE: JPM) was up 1.2%, and Wells Fargo & Co. (NYSE: WFC) gained 1.1%.
- [By Paul Ausick]
Wells Fargo & Co. (NYSE: WFC) reported fiscal 2017 first-quarter results before markets opened Thursday. The banking giant posted diluted earnings per share (EPS) of $1.00 on revenue of $22 billion. In the same period a year ago, Wells Fargo reported EPS of $0.99 on revenue of $21.58 billion. Net income rose from $5.27 billion a year ago to $5.46 billion in the quarter. First-quarter results also compare to the consensus estimates for EPS of $0.97 on revenue of $22.31 billion.
- [By Chris Dier-Scalise]
Among the brands being sold were Alcoa Corporation (NYSE: AA) and Ford Motor Company(NYSE: F), which both paid out dividends in December. The financial and oil sectors also experienced a sell-off to finish 2016. Wells Fargo & Co (NYSE: WFC) and Citigroup Inc (NYSE: C) were net sold as each reached new year-to-date highs and investors unloaded ConocoPhillips (NYSE: COP) and Chevron Corporation (NYSE: CVX) as their prices normalized with the rise in the price of oil.
- [By WWW.MONEYSHOW.COM]
For the negative side of the banking story, let’s look at Wells Fargo (WFC). This is the company that has been embroiled in a scandal involving the fraudulent opening of some two million accounts as employees tried every trick in the book to make unrealistic sales quotas.
Top 5 Canadian Stocks To Watch Right Now: Valeant Pharmaceuticals International Inc(VRX)
- [By Stark Merrifield]
Bill Ackman: Fifty-year-old Ackmans career began in 1992 when he and fellow Harvard graduate David P. Berkowtiz founded the investment firm Gotham Partners. The firms high-profile bid for Rockefeller Center in New York caused investors to flock to the firm, growing it to $500 million in assets. Then in 2004, with $54 million in personal funding, Ackman started Pershing Square Capital Management. Through Pershing, Ackman bought significant shares in companies like Wendys Co. (Nasdaq: WEN), Target Corp. (NYSE: TGT), Chipotle Mexican Grill Inc. (NYSE: CMG), and Valeant Pharmaceuticals International Inc. (NYSE: VRX). Today, Ackman is worth $1.4 billion and is No. 256 on the Forbes 400.
- [By Paul Ausick]
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 2.7% Tuesday, to post a new 52-week low of $10.35 after closing at $10.64 on Monday. The stock’s 52-week high is $38.50. Volume was nearly equal to the daily average of around 18.6 million shares. The battered drug maker completed a $1.1 billion bond tender offer as investors couldn’t wait to cash out.
- [By Kumar Abhishek]
After a horrible 2016, 2017 had started on a good note for shareholders of specialty pharma company Valeant Pharmaceuticals Intl Inc(NYSE:VRX). With the rising optimism around the asset restructuring plan, VRX stock was up more than 10% in the first few days of the year. However, since then Valeant Pharma stock has lost its momentum. Valeant stock is down more than 25% YTD. Shares of the Laval, Qubecbased company were hit hard by the company’s disappointingguidance for 2017. Valeant stock is down by more than 35% since its latest earnings report on February 28th.
- [By Paul Ausick]
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 8.5% Tuesday, to post a new 52-week low of $11.36 after closing at $12.41 on Monday. The stock’s 52-week high is $70.43. Volume was about double the daily average of around 16.6 million shares. The company announced Monday that it had paid down about $1.1 billion in secured term loans and now seeks to refinance and amend its existing credit agreement, borrow more money under the agreement, and issue new secured debt. Investors can’t hit the exits fast enough.
- [By WWW.THESTREET.COM]
Originally published Nov. 17 at 3:41 p.m. EDT
The consideration of the contrary has been a theme all week. And here in ” Don’t Run With the Crowd: Embrace the Contrary.” Miami madness (of a real estate kind) Mark Grant is scared by our currency’s strength. Danielle on scenarios. Boockvar to subscriber Bad Golfer! JC Penney ( JCP) short puts–a 100% win. (Shorting options frequently ends differently!) Just say no to closed-end muni-bond funds. DRYS is all wet. Could iPhone manufacturing be coming back home? On inflation breakevens–a picture that speaks volumes. The market moved higher from the “get go”–in large measure it seems to be a response to the better economic data this morning. At 3 p.m. stocks were near the day’s highs. I shorted The Cisco Kid last night. Sticking with this short rental. I added to my ProShares UltraShort S&P500 ETF ( SDS) long (growing ever larger). My net short exposure–is now between small and medium-sized at the close. The U.S. dollar, as discussed above, continued to rip higher against the euro. I am concerned. Mark Grant is concerned. The market is not concerned. The price of crude oil (down $0.20) settled lower after yesterday’s robust gains. Gold fell $9 as it continues to break down–closing in on $1,200. Ag commodities: wheat up $0.07, corn up $0.04, soybeans up $0.05 and oats up $0.02. Lumber up $7 following the big housing number this morning. Bonds schmeissed … iShares Barclays 2
Top 5 Canadian Stocks To Watch Right Now: Silver Wheaton Corp(SLW)
- [By Rich Duprey]
Silver Wheaton (NYSE:SLW), of course, is a streamer like Sandstorm and Franco, but it is the largest in the precious-metals industry, and arguably the best-known, because its business model came to define what streaming is. Although it is known primarily for its silver contracts, Silver Wheaton also has sizable gold production that makes it worth your attention.
Top 5 Canadian Stocks To Watch Right Now: Talisman Energy Inc.(TLM)
- [By Jayson Derrick]
On the other hand, the analysts are Underweight on Eni SpA (ADR) (NYSE: E), Repsol Oil & Gas Canada Inc (USA) (NYSE: TLM) and OMV AG given their asset bases, which offer an inferior risk to reward profile and limited differentiation in cost reductions.
Top 5 Canadian Stocks To Watch Right Now: NEW GOLD INC.(NGD)
- [By Dan Caplinger]
The stock market lost ground on Monday, sending major market benchmarks lower by more than half a percentage point. The Dow lost its grip on the 20,000 mark in the wake of concerns about economic growth and new U.S. immigration policy, and some believe that the broader geopolitical climate could have a negative impact on global commerce that in turn could start affecting multinational corporations’ business prospects. In addition, bad news from some individual companies weighed on the markets, and Transocean (NYSE:RIG), Rite Aid (NYSE:RAD), and New Gold (NYSEMKT:NGD) were among the worst performers on the day. Below, we’ll look more closely at these stocks to tell you why they did so poorly.