August 2018 – Page 121

Pioneer Natural Resources boosts 2018 spending on higher costs, drilling activity

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Pioneer Natural Resources will boost its 2018 capital spending budget by roughly $450 million to address rising costs and to increase its drilling and well-completion activities, the company said on Wednesday. Pipeline constraints that are pushing down the price of Permian Basin crude could hamper the increase in service costs as companies opt to delay completing some wells, Dove added. Rival independent oil producer EOG Resources last week said it expected service inflation to rise by five to 10 percent next year. …read more […]

China to slap additional tariffs on $16 billion of U.S. goods

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China is slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world’s largest economies escalated their trade dispute.

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Impact of trade tariffs on European companies

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Some European companies are rethinking their strategies to cushion the impact of trade tensions between the world’s two biggest economies, the United States and China.

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Wall St. slips as energy shares drag

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U.S. stocks were slightly lower on Wednesday as a drop in crude oil prices pressured energy shares, offsetting gains in technology and bank stocks.

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Elon Musk's Tesla tweet brings the 'Reed Hastings rule' into play

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The question of whether Elon Musk broke any rules with his Tesla tweet might hinge on a little-understood 2013 SEC rule. …read more […]

CVS Health beats profit estimates, defends PBM business

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CVS Health Corp beat analysts’ estimates for quarterly profit on Wednesday and the drugstore operator defended its pharmacy benefits management business in the face of the Trump administration’s move to clamp down on escalating drug costs.

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Indian regulator clears Walmart’s $16 billion acquisition of Flipkart

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India’s antitrust regulator on Wednesday approved U.S. retail giant Walmart Inc’s $16 billion acquisition of Indian ecommerce firm Flipkart, beefing up the competition for rival Amazon.com Inc in the fast growing market.

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OPKO Stock Had a Great Q2 and the Future Looks Even Better

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With shares nearly double where they were in May, OPKO Health, Inc. (NASDAQ:OPK) needed a strong second-quarter earnings report to justify the gains in OPKO stock. What, then, is the company worth after OPKO reported earnings and revenue that beat consensus estimates? …read more […]

Thomson Reuters on offense as Blackstone deal nears

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Thomson Reuters Corp said it was thinking about acquisition opportunities after reporting quarterly earnings that were ahead of expectations on Wednesday and reaffirming its 2018 forecast.

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Boeing sees more narrowbody delivery delays in third quarter

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Boeing Co . the world’s largest planemaker, said on Wednesday it expects delivery delays of its hot-selling narrowbody aircraft to continue deeper into the year as it grapples with delays of fuselages and engines from suppliers.

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Wall St. flat as trade tensions mute earnings optimism

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U.S. stocks were flat on Wednesday after China retaliated to Trump administration’s latest tariffs, escalating trade tensions and muting strong corporate earnings.

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Tesla board evaluating CEO Musk’s idea to take company private

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Tesla Inc said on Wednesday its board is evaluating Chief Executive Elon Musk’s idea of taking the company private after he brought the matter up for discussion last week.

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Rouble slides towards two-year low on U.S. sanctions ‘bill from hell’

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The rouble slid towards its lowest level in nearly two years on Wednesday and investors sold off bonds and stocks after the Kommersant daily published what it said was the full text of a draft U.S. law detailing possible penalties against Russia.

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China retaliates with new tariffs on US cars, oil

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China is responding to President Trump’s latest trade moves with new tariffs on $16B worth of cars, oil. Yahoo Finance’s Alexis Christoforous, Dion Rabouin and Rick Newman dig into the implications. …read more […]

Glencore looks to buybacks, not dealmaking

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Glencore said it would favour share buybacks over deal-making after it reported a 23 percent rise in first-half core earnings on Wednesday, just below analyst forecasts.

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