Oil has been on a rollercoaster ride, making and stealing fortunes for and from speculators. Since mid-June, oil has plunged approximately 60%, which has been due to oversupply and slowing global economic growth, the latter of which leads to reduced demand. Earlier this year Feb. 11 to be exact oil hit a low of $26.05/barrel. Some economists and analysts feel as though the $30/barrel level can be breached once again, but not Tom Petrie.
Its possible that you have never heard of Tom Petrie, but he is the chairman of Petrie Partners, which is a boutique investment banking firm offering financial advisory services specifically to the oil and gas industry. Petrie is also the former vice chairman of Bank of America Merrill Lynch. His background proves that his opinions should be considered. (For more, see: What Determines Oil Prices?)
One of his opinions is that oil overshot to the downside, and that part of the recovery has simply been a process of getting back to a more normal adjusted price. If you want to know what Petrie thinks about the future for oil, it depends on the time frame. He doesnt rule out the possibility for the price of oil to range between the $40s and low $50s by the end of this year and into early next year. What you might find more interesting is that he expects the new normal for oil to be between $60/barrel and $80/barrel by 2018. His call is based on the assumption of a decline in oil production in North America, China and other non-OPEC nations over the next year, not to mention the elimination of current inventory.
nyse penny stocks: SeaWorld Entertainment, Inc.(SEAS)
- [By Rick Munarriz]
It’s time to see if SeaWorld Entertainment (NYSE:SEAS) can earn a treat by performing a fancy trick above water. The struggling theme park operator has a media event slated for Thursday morning at its flagship SeaWorld Orlando park. Speculation centers around the unveiling of a new sea-rescue-themed attraction, but some brand bashers hope that SeaWorld will be taking additional steps to wean itself from live marine-life entertainment.
- [By Benzinga News Desk]
In the parched terrain just south of the United States border, the prices of food and other necessities follow the dollar, whose value has been climbing: Link
ECONOMIC DATA Industrial Production (MoM) for Feb 0.00% vs 0.20% consensus estimate; Manufacturing Outputs (MoM) for Feb 0.50% vs 0.40% consensus estimate. The University of Michigan's consumer sentiment index for March is schedule for release at 10:00 a.m. ET. The index of leading economic indicators for February will be released at 10:00 a.m. ET. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET. ANALYST RATINGS Wunderlich upgraded Adobe Systems (NASDAQ: ADBE) from Hold to Buy FBR Capital upgraded L Brands (NYSE: LB) from Market Perform to Outperform Morgan Stanley upgraded Dean Foods (NYSE: DF) from Neutral to Overweight Baird downgraded Patheon (NYSE: PTHN) from Outperform to Neutral Citigroup downgraded SeaWorld Entertainment Inc (NYSE: SEAS) from Neutral to Sell Goldman Sachs downgraded Macerich (NYSE: MAC) from Neutral to Sell
This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here or email email@example.com.
- [By Ben Levisohn]
SeaWorld Entertainment (SEAS) has dropped 2.2% to $18.47 after getting cut to Sell from Neutral at Citigroup.
Valeant Pharmaceuticals International (VRX) has jumped 4.3% to $11.68 after activist investor ValueAct bought three million shares of the beaten-down specialty pharmaceutical company.
- [By Jon C. Ogg]
SeaWorld Entertainment Inc. (NYSE: SEAS) was downgraded to Sell from Neutral and the price target was cut to $15 from $19 (versus an $18.88 close) at Citigroup.
- [By WWW.THESTREET.COM]
SeaWorld Entertainment (SEAS) is probably the most famous example of a company that’s suffered from animal cruelty allegations. Shares of the theme park operator, backed by Blackstone (BX) , have never recovered from the release of the 2013 documentary Blackfish, which argued that orca captivity is inhumane and dangerous to the human trainers of the orcas. SeaWorld announced in March that it would phase out its orca captivity, breeding and live shows. The company’s remaining whales, most of which were born in captivity, will live out their lives at the parks. The news sent SeaWorld shares soaring 9%, but continued attendance drops forced the company to slash its dividend and invest $175 million in new attractions.
- [By Peter Graham]
The Q4 2016 earnings report for troubled small capSeaWorld Entertainment Inc (NYSE: SEAS) is scheduled for before the market opens onTuesday (February 28th) as the company still grapples with thefallout generated from the highly critical documentary Blackfish. On Tuesday, SeaWorld Entertainment reportedthat preliminary total 2016 revenues were expected to be $1.344 billion and total attendance was approximately 22.0 million guests for the year. The CEO commented:
nyse penny stocks: 1-800 FLOWERS.COM Inc.(FLWS)
- [By Wayne Duggan]
U.S. retailers performed poorly during the Christmas holiday season, but companies in the Valentine’s Day business are hoping that Americans will spend generously in the name of love this year. These names include flower delivery company 1-800-Flowers.Com Inc (NASDAQ: FLWS), L Brands Inc (NYSE: LB) (owner of both Victoria’s Secret and Bath & Body Works), Church & Dwight Co., Inc. (NYSE: CHD) (owner of Trojan brand condoms), candy giant Hershey Co (NYSE: HSY) and luxury jeweler Tiffany & Co. (NYSE: TIF).
- [By Danny Vena]
Online florist 1-800-FLOWERS.COM(NASDAQ:FLWS) launched its chatbot to help customers place an order or connect them with a human customer service representative. The response from its consumers has been uniformly positive. It found the majority of its customers were comfortable with its bot, especially millennials.
nyse penny stocks: Sage Therapeutics, Inc.(SAGE)
- [By WWW.THESTREET.COM]
The market remains resistant (Rs over Ss and Ns). Brokerages, banks and insurance companies continue their league-leading strength. The Russell 2000 Index is up for the 15th consecutive day. Retail extends yesterday’s strength. Nordstrom (JWN) , Macy’s (M) , Best Buy (BBY) , Target (TGT) , Walmart (WMT) , Foot Locker (FL) and JCPenney (JCP) are strong. First day down for Amazon (AMZN) . Agricultural commodities are lackluster, but soybeans are up another up $0.05 today, up substantially for three days in a row. Speculative biotech (Sage (SAGE) , FibroGen (FGEN) , Acadia Pharmaceuticals (ACAD) and Aerie Pharmaceuticals (AERI) ) stronger after recent weakness. Ag equipment up big time after the Deere (DE) beat.
- [By WWW.THESTREET.COM]
Position: Long GLD small, bonds, SDS; short TLT small, SPY small .
nyse penny stocks: Golfsmith International Holdings Inc.(GOLF)
- [By Jim Robertson]
On Tuesday, our Under the Radar Moversnewsletter suggestedshorting small cap golf equipment stockAcushnet Holdings Corp (NYSE: GOLF):
Acushnet Holdings has been on our watchlist for a while too, but it’s only been in the past few days we’ve seen the cracks start to appear.
nyse penny stocks: SM Energy Company(SM)
- [By Lisa Levin]
Energy sector was the top gainer in the US market on Monday. Top gainers in the sector included Helix Energy Solutions Group Inc (NYSE: HLX), SM Energy Co (NYSE: SM), and Ecopetrol SA (ADR) (NYSE: EC).
- [By Andrew Efimoff]
WTI crude oil plunged 3.11 percent on Friday to $48.99 a barrel. Below are the biggest energy losers for the day:
California Resources Corporation (NYSE: CRC): -19.22% Dynamic Materials (NASDAQ: BOOM): -12.39% Clayton Williams Energy (NYSE: CWEI): -11.45% Dynergy (NYSE: DYN): -11.91% EP Energy Corporation (NYSE: EPE): -11.20% Mexco Energy (NYSE: MXC) -10.90% Whiting Petroleum (NYSE: WLL) -10.79% Southwestern Energy Company (NYSE: SWN) -10.79% SM Energy Company (NYSE: SM) -10.38% Real Goods Solar (NASDAQ: RGSE) -10.34%
Posted-In: Commodities After-Hours Center Markets Movers
- [By Lisa Levin]
Energy sector was the top gainer in the US market on Friday. Top gainers in the sector included Superior Energy Services, Inc. (NYSE: SPN), Panhandle Oil and Gas Inc. (NYSE: PHX), and SM Energy Co (NYSE: SM).