Business

Commodities Face Uncertainty Amid Oil Availability, Strengthening Dollar, Trade Disputes, Desjardins Says

Commodities Face Uncertainty Amid Oil Availability, Strengthening Dollar, Trade Disputes, Desjardins Says

Commodity prices are in a bit of a tug of war right now amid uncertainty about oil availability, a strengthening dollar and ongoing trade disputes between the US and several countries, all of which need to be watched closely for signs of price direction, Desjardins analysts said in a note to clients on Thursday. West Texas Intermediate oil futures are […]

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street pre-market Wednesday is steady, with US stock-index futures pointing to an opening bell largely unchanged from Tuesday’s close. European bourses are trading mildly higher, and Asian exchanges closed choppily on trade concerns. China reported a near-record $28.9 billion trade surplus in July with the US. The US will impose a 25% tariff on another $16 billion worth of […]

Glencore Trains Focus on Shareholder Returns After Operating Earnings Surge

Glencore Trains Focus on Shareholder Returns After Operating Earnings Surge

Glencore (GLEN.L), one of the biggest mining and commodities trading firms in the world, reported early Wednesday that adjusted operating earnings surged to a record in the first half, while noting that its near-term focus will be on deleveraging and shareholder returns/buybacks funded through cash generation. Group revenue climbed to $108.55 billion in the six months that ended June 30, […]

Goldman Reiterates Positive Outlook on Suncor, Canada Pacific, Phillips 66 Amid Widening Western Canadian Crude Differentials

Goldman Reiterates Positive Outlook on Suncor, Canada Pacific, Phillips 66 Amid Widening Western Canadian Crude Differentials

Goldman reiterates its supportive outlook on Suncor Energy (SU), Canada Pacific (CP), Phillips 66 (PSX) and Marathon Petroleum (MRO) as these companies will benefit from widening Western Canadian heavy crude oil differentials. Western Canadian heavy crude oil differentials have re-widened from a period of seasonally tighter spreads in the second quarter amid a faster-than-anticipated production ramp, planned refining downtime and […]

Cardinal Health’s Price Target From RBC Cut to $56 From $61

Cardinal Health’s Price Target From RBC Cut to $56 From $61

Cardinal Health (CAH) received a price-target reduction from RBC Capital Markets after the health-care services and products company reported fiscal Q4 results above analysts’ expectations Monday but the midpoint of its guidance range for fiscal 2019 adjusted earnings per share missed analysts’ mean estimate. The new price target from RBC is $56 per share, down from $61. The stock closed […]

Bemis to Be Acquired by Australian Rival Amcor in $6.8 Billion Deal

Bemis to Be Acquired by Australian Rival Amcor in $6.8 Billion Deal

Bemis Company (BMS) is poised to be taken over by Australian rival Amcor in an all-stock deal valued at $6.8 billion that will see Amcor list shares on the New York Stock Exchange. Shareholders of Neenah, Wisconsin-based Bemis will own 29% of the combined consumer packaging firm and Amcor investors will take 71%, the companies said in a statement on […]

Linde Considers Additional US Asset Sales to Salvage $47 Bln Praxair Deal

Linde Considers Additional US Asset Sales to Salvage $47 Bln Praxair Deal

Linde AG is considering the sale of additional US assets, which will mark a near exit from industrial gas operations in the country and an 11th hour attempt to salvage its $47 billion merger with Praxair (PX), Bloomberg reported Monday, citing sources familiar with the matter. The decision to sell the onsite and specialty gas businesses has not yet been […]

Kosmos Energy Enters Gulf of Mexico With Acquisition of Deep Gulf Energy

Kosmos Energy Enters Gulf of Mexico With Acquisition of Deep Gulf Energy

Kosmos Energy (KOS) said Monday it will acquire Deep Gulf Energy, a deepwater firm operating in the Gulf of Mexico, for $1.225 billion. The company said the acquisition will add to its deepwater Atlantic Margin portfolio and will be immediately accretive. The deal will enhance the scale of the company and is expected to generate “significant” free cash flow that […]

Indra K. Nooyi (PRNewsfoto/PepsiCo, Inc.)

PepsiCo CEO Nooyi to Step Down Effective Oct. 3

Indra Nooyi will step down as chief executive of PepsiCo (PEP) on Oct. 3 and will be replaced by Ramon Laguarta, the company said on Monday. Nooyi will step down on Oct. 3 after 24 years with Pepsi, including the past 12 as chief executive. She will retain her role as chairman until early 2019 to ensure a “smooth and […]