Source: ThinkstockAugust 2, 2017: The S&P 500 closed relatively flat at 2,477.51. The DJIA closed up 0.2% at 22,016.04. Separately, the Nasdaq closed relatively flat at 6,362.65.
Wednesdays session saw the Dow hit a new all-time high almost solely on the back of Apple, which had a gain of more than 5% on the day. Although Apple did not make the biggest percentage gain in the S&P 500 it made perhaps the largest addition to its market cap in the index (roughly $40 billion) and now there is serious talk of the company reaching the $1 trillion mark. Analysts are calling for this stock to continue roaring higher as well. Separately, crude oil continued on its path towards the $50 price mark, but there were mixed reactions among oil & gas stocks. In terms of sector performance, Industrial goods were the only positive one out of the ten. The tech sector was largely negative on the day while the rest were relatively mixed.
Top 5 Oil Stocks To Own Right Now: Magellan Midstream Partners L.P.(MMP)
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Hetty Green Would Love This Trade
It’s in Magellan Midstream Partners, L.P. (NYSE: MMP).
Magellan Midstream Partners owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity and the ability to store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil.
- [By Lisa Levin] Gainers
McDermott International, Inc. (NYSE: MDR) rose 19 percent to $7.20 in pre-market trading. Subsea 7 S.A. confirmed a $7.00 per share proposal to acquire McDermott.
Clarus Corporation (NASDAQ: CLAR) rose 18.5 percent to $8.00 in pre-market trading.
Enbridge Inc. (NYSE: ENB) rose 9.3 percent to $34.09 in pre-market trading after falling 2.41 percent on Friday.
Lannett Company, Inc. (NYSE: LCI) rose 8.4 percent to $18 in pre-market trading. Lannett named Maureen M. Cavanaugh as senior vice president and chief commercial operations officer.
Navios Maritime Midstream Partners L.P. (NYSE: NAP) rose 7.1 percent to $4.55 in pre-market trading after gaining 11.26 percent on Friday.
Corcept Therapeutics Incorporated (NASDAQ: CORT) rose 6.9 percent to $18.80 in pre-market trading after falling 3.19 percent on Friday.
Helios and Matheson Analytics Inc. (NASDAQ: HMNY) rose 5.7 percent to $2.40 in pre-market trading after falling 10.98 percent on Friday.
Vectren Corporation (NYSE: VVC) shares rose 5.6 percent to $69.20 in pre-market trading. CenterPoint Energy, Inc. (NYSE: CNP) announced plans to acquire Vectren for $72 per share in cash
Genprex, Inc. (NASDAQ: GNPX) shares rose 5.2 percent to $4.50 in pre-market trading.
Atossa Genetics Inc. (NASDAQ: ATOS) rose 5.1 percent to $3.70 in pre-market trading after declining 19.35 percent on Friday.
Sangamo Therapeutics, Inc. (NASDAQ: SGMO) shares rose 5 percent to $20 in pre-market trading.
Magellan Midstream Partners, L.P. (NYSE: MMP) shares rose 5 percent to $68.41 in pre-market trading.
Halozyme Therapeutics, Inc. (NASDAQ: HALO) shares rose 4.9 percent to $19.78 in the pre-market trading session.
Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.
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Cramer and the AAP team are looking for opportunities to trim stocks into strength based out of discipline. That means trimming Magellan Midstream Partners (MMP) . Find out what they’re telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.
Top 5 Oil Stocks To Own Right Now: Transocean Inc.(RIG)
- [By Spencer Israel]
Oil companies were popular sells for the month, including ConocoPhillips (NYSE: COP), BP p.l.c. (NYSE: BP), and Transocean Ltd. (NYSE: RIG) all net sold. Investors also net sold Alcoa Corp. (NYSE: AA), Starbucks Corporation (NYSE: CMG). and Facebook Inc. (NASDAQ: FB) in the midst of CEO Mark Zuckerberg's testimony before Congress.
- [By Max Byerly]
ValuEngine upgraded shares of Transocean (NYSE:RIG) from a hold rating to a buy rating in a research note released on Wednesday morning.
Several other research firms have also recently issued reports on RIG. Bank of America increased their price objective on Transocean from $12.00 to $13.00 and gave the stock a neutral rating in a research report on Wednesday, April 18th. Citigroup increased their price objective on Transocean from $15.00 to $16.00 and gave the stock a buy rating in a research report on Monday, April 30th. Susquehanna Bancshares set a $11.00 price objective on Transocean and gave the stock a hold rating in a research report on Friday, January 12th. Cowen set a $11.00 price objective on Transocean and gave the stock a hold rating in a research report on Thursday, January 11th. Finally, Piper Jaffray set a $11.00 price objective on Transocean and gave the stock a hold rating in a research report on Wednesday, January 10th. Eight investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $11.79.
- [By Ethan Ryder]
D.B. Root & Company LLC acquired a new position in shares of Transocean (NYSE:RIG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,040 shares of the offshore drilling services provider’s stock, valued at approximately $297,000.
- [By Lisa Levin]
Check out these big penny stock gainers and losers
Aceto Corporation (NASDAQ: ACET) fell 41.9 percent to $4.30 in pre-market trading. ACETO board disclosed that it is taking proactive steps to address business and financial challenges. Canaccord Genuity downgraded Aceto from Buy to Sell.
Helios and Matheson Analytics Inc. (NASDAQ: HMNY) fell 25.3 percent to $2.86 in pre-market trading after reporting an ATM offering of $150 million.
Pier 1 Imports, Inc. (NYSE: PIR) fell 17.4 percent to $2.86 in pre-market trading after reporting a fourth quarter sales miss. Comps were down 7.5 percent in the quarter.
Sleep Number Corporation (NASDAQ: SNBR) fell 12.4 percent to $32.00 in pre-market trading following a first quarter earnings miss.
Paratek Pharmaceuticals, Inc. (NASDAQ: PRTK) fell 10.2 percent to $11.90 in pre-market trading on news of $125 million convertible debt offering.
Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK) shares fell 8 percent to $8.02 in pre-market trading after dropping 2.02 percent on Wednesday.
Exponent, Inc. (NASDAQ: EXPO) shares fell 5.6 percent to $80 in pre-market trading.
Lumentum Holdings Inc. (NASDAQ: LITE) shares fell 4.8 percent to $60.00 in pre-market trading after rising 1.78 percent on Wednesday.
vTv Therapeutics Inc. (NASDAQ: VTVT) fell 4.6 percent to $2.10 in pre-market trading after surging 84.87 percent on Wednesday.
Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) shares fell 4.5 percent to $40.07 in pre-market trading after the company reported Q1 results.
Align Technology, Inc.. (NASDAQ: ALGN) fell 3.5 percent to $267.40 in pre-market trading after rising 1.61 percent on Wednesday.
Transocean Ltd. (NYSE: RIG) shares fell 3.5 percent to $12 in pre-market trading after the company issued quarterly fleet status report.
GoPro, Inc. (NASDAQ: GPRO) fell 3.2 percent to $4.90 in pre-market trading.
Unilever PLC (NYSE: UL) fell 2.6 percent to $54.73 in pre-market
Top 5 Oil Stocks To Own Right Now: Range Resources Corporation(RRC)
- [By Paul Ausick]
Range Resources Corp. (NYSE: RRC) fell about 4.4% Tuesday to post a new 52-week low of $14.43 after closing at $15.09 on Monday. The 52-week high is $34.93. Volume of about 15 million was nearly double the daily average of around 7.7 million shares traded. The company had no specific news.
- [By Paul Ausick]
Range Resources Corp. (NYSE: RRC) fell about 3.6% Monday to post a new 52-week low of $14.77 after closing at $15.30 on Friday. The 52-week high is $35.64. Volume of about 9.4 million was about 20% higher than the daily average of around 7.7 million shares traded. The company had no specific news.
Top 5 Oil Stocks To Own Right Now: Halliburton Company(HAL)
- [By Paul Ausick]
Halliburton Co. (NYSE: HAL) reported first-quarter 2018 results before markets opened Monday. The oil and gas services company posted adjusted diluted earnings per share (EPS) of $0.41 on revenues of $5.74 billion. In the same period a year ago, the company reported EPS of $0.04 on revenues of $4.28 billion. First-quarter results also compare to consensus estimates for EPS of $0.41 per share and $5.75 billion in revenues.
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Selected examples: (AAL) , (CL) , (DRI) , (HAL) , (LUV) , (MCD) , (MMM) , (SBUX) . Darden and 3M are holdings in Jim Cramer’s Action Alerts PLUS.
What Trade War?
Notes Goldman: “Firms expressed optimism that trade conflict would be resolved. Commentary emphasized the support for a free trade environment. Company management did not expect the disputes would escalate and affect global economic growth.”
- [By WWW.GURUFOCUS.COM]
For the details of Packer & Co Ltd’s stock buys and sells, go to www.gurufocus.com/StockBuy.php?GuruName=Packer+%26+Co+Ltd
These are the top 5 holdings of Packer & Co LtdBall Corp (BLL) – 625,005 shares, 7.52% of the total portfolio. Hess Corp (HES) – 2,039,400 shares, 6.78% of the total portfolio. Anadarko Petroleum Corp (APC) – 1,432,600 shares, 6.35% of the total portfolio. Shares added by 14.37%Citigroup Inc (C) – 604,500 shares, 6.34% of the total portfolio. Shares reduced by 11.04%General Electric Co (GE) – 1,118,800 shares, 5.98% o
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That investment would likely benefit both Schlumberger and Baker Hughes, but more so their competitor Halliburton Co. (HAL) , which is the most levered to the North American market among the big three oil services providers.
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KBR (NYSE: KBR)
Though an under-the-radar name, KBR was the construction arm of oilfield services giant Halliburton (NYSE: HAL) before being spun off. With a consolidated market cap of $2.6 billion, KBR describes itself, per its website, as a “global provider of differentiated professional services and technologies within the Government Services and Hydrocarbon sectors.”
Top 5 Oil Stocks To Own Right Now: ConocoPhillips(COP)
- [By Matthew DiLallo]
ConocoPhillips’ (NYSE:COP) management team has worked tirelessly in recent years to transform the oil company into one that could thrive on lower prices. As a result, itcashed in during the first quarterwhen crude was well above its baseline plan. That strong showing sets the company up for continued success in the coming year — a key theme running through management’s comments on the accompanying conference call, which detailed recent achievements and how they frame what lies ahead.
- [By Matthew DiLallo]
ConocoPhillips (NYSE:COP) worked hard to turn its business around during the oil market downturn. We saw the first glimpse of its ability to thrive, now that prices are on the upswing, at the end of last year when the U.S. oil giant reported $545 million, or $0.45 per share, of adjusted earnings. That result marked a significant improvement from the loss it had posted in the previous year.
- [By Chris Lange]
The number of ConocoPhillips (NYSE: COP) shares short fell to 21.01 million from the previous level of 24.44 million. Shares were trading at $69.15, within a 52-week range of $42.27 to $70.15.