US crude oil active futures contracts were at $47.85 per barrel on Tuesday, June 28, 2016—6.6% below its 2016 high of $51.23 on June 8, 2016.
On June 27, 2016, the S&P Consumer Staples Index slightly outperformed the S&P 500 and the S&P Consumer Discretionary Index. The indexes had respective returns of -0.24%, -1.8%, and -1.9%.
In April, the Case-Shiller Index rose by 1% month-over-month. It’s up by 5.4% YoY. Prices are still about 10% below the peak set in the summer of 2006.
Wall Street analysts’ consensus estimate for Newfield Exploration’s (NFX) revenue was ~$341 million. NFX’s 1Q16 revenue was ~5% higher than its 1Q15 revenue of ~$349 million.
After sliding since Friday, June 24, due to Britain’s vote to leave the European Union, crude oil prices started to recover from the Brexit-created lows.
According to Apple’s guidance for the June quarter, the company’s revenues could decline by 13% to 17% year-over-year.
Brexit’s impact on the integrated energy sector stocks was widespread. Among the integrated energy stocks, Chevron (CVX) was the least impacted.
Post-Brexit forecasts resulted in downward pressure on the British pound, which has impacted biotechnology companies.
On June 24, 2016, the S&P Consumer Staples slightly outperformed the S&P 500 and the S&P Consumer Discretionary as a whole.
At the recent Wells Fargo Convergence & Connectivity Symposium, AT&T’s president of technology operations said, “rest assured, we’re doing anything anybody else is doing in 5G.”
Iron ore prices and iron ore miners tumbled following the Brexit vote, but they rebounded in the days following the referendum.
August West Texas Intermediate crude oil futures contracts fell by ~2.8% and settled at $46.33 per barrel on Monday, June 27, 2016. Prices fell for the second day due to the aftermath of the Brexit vote on June 24.
On June 24, 2016, Dish Network’s (DISH) stock closed at $50.59. It has fallen by 12% year-to-date. In this series, we’ll look at the factors that could impact Dish Network’s stock price, including the company’s wireless spectrum strategy.
United Continental (UAL) is expected to announce its 2Q16 earnings on July 21, 2016. According to Bloomberg consensus, 70.6% of analysts have given the stock a “buy” recommendation.
According to the Bloomberg consensus, 93.3% of the analysts tracking Delta Air Lines (DAL) have a buy recommendation on the stock.
The European Medicines Agency’s CHMP (Committee for Medicinal Products for Human Use) prepares opinions on the quality, safety, and efficacy of medicines.
For the week ended June 24, 2016, the S&P 500 rose slightly by 0.85% compared to the previous week. The overall week was mixed for fertilizer producers.
At the end of the fourth week of June 2016, the S&P Consumer Staples slightly outperformed the S&P 500 and the S&P Consumer Discretionary as a whole.
As of June 27, 2016, Enable Midstream Partners (ENBL) had the highest implied volatility among all the midstream companies.
As of June 21, PPG’s consensus 12-month target price was $125, which represents a potential return of ~15% from its closing price of $108.06 on June 21.