WTI (West Texas Intermediate) crude oil futures contracts for June delivery slumped by 3.27% and closed at $58.94 per barrel on Thursday, May 7, 2015.
NYMEX-traded June natural gas futures declined by 1.51%—led by a massive increase in inventory data. Gas prices fell for the third day in a row.
In the latest Fannie Mae National Housing Survey, 49% of the respondents said the economy is on the wrong track—a 1% increase from last month and a 8% decrease over the past year.
Bank of America (BAC) announced the results of several matters that it considered during its 2015 annual meeting on May 6.
On May 6, 33 out of 41 utilities stocks under our coverage dropped. A sell-off across equities, a stronger dollar, and rising oil prices pulled the broader market and the utilities sector down.
In the iGATE-Capgemini merger, the companies will have to file under the Antitrust Act. Arbitrageurs will review each 10-K to see if the parties are named as competitors.
COMEX-traded gold futures for June delivery fell marginally by 0.24% and closed at $1,190.30 per ounce on Wednesday, May 6, 2015. Gold prices were down.
Investor sentiment in the US was dampened by the weak April jobs report that was released May 6. The non-farm private payroll gained 169,000 jobs against median expectations of 200,000.
In 1Q15, EOG Resources’ net operating revenues decreased 43% to ~$2.32 billion from $4.08 billion in 1Q14. A sharp energy price decline is the primary reason for decreasing revenues.
In 4Q14, around 112 hedge funds created a new position in Priceline Group—including Eton Park. Its other top new positions were CDK Global, EQT, and KLX.
Humana posted its 1Q15 earnings on April 29, 2015. With a posted diluted EPS of $2.47, the company missed Wall Street estimates of $2.54.
Vale (VALE) reported its 1Q15 results on April 30. Overall production was a slight miss on market expectations, mainly due to weather-related seasonality and events.
General Dynamics (GD) reported strong improvement in all its key metrics in 1Q15. EPS of $2.14 beat estimates of $1.94 by 10.3%. It also beat 1Q14 EPS by 25.14%.
Twitter’s management changes came after its disastrous 1Q15 earnings. Twitter missed its own revenue growth estimate for 1Q15 and even lowered its outlook.
The EIA (US Energy Information Administration) announced a decrease of 3.9 million barrels in crude inventories for the week ended May 1.
The West Coast port labor issues, lower oil prices, and challenges linked with a stronger currency are some factors contributing to the slower growth pace.
It was indeed a case of market paradox as bond yields (IEF) rose last week—even as weak economic data flooded in. Economic data from the US is still mixed.
Natural gas futures for June delivery dropped marginally by 0.14%—led by the consensus of an increasing stockpile. Prices dropped for the second day.
NYMEX-traded June WTI crude oil futures increased by 0.88% and settled at $60.93 per barrel on May 6, 2015. Crude oil prices increased.
On top of its significant purchase of Bank of America stock, Passport Capital made notable investments in Williams Companies (WMB) and Zillow (Z).