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COST-Stock-2-1
Costco Tops Fiscal 1Q18 Estimates

Costco Wholesale (COST) reported stronger-than-expected fiscal 1Q18 results, surpassing analysts’ expectations for both sales and EPS (earnings per share).

Asian
Pre-Market Report: Global Markets Are Weak on December 15

After a pullback on Thursday, the Shanghai Composite Index opened lower on December 15 and fell to five-week low price levels.

sp-500-1
US Markets Had a Mixed Performance on December 14

The S&P 500 started this week on a stronger note. Despite a strong start, the market lost momentum as the week progressed and fell on Thursday.

KSS-Price-1
Can Kohl’s Stock Pick Up Some Momentum?

Kohl’s (KSS) stock price has risen 1.8% on a YTD (year-to-date) basis as of December 12.

RECENT RESEARCH

2013.01.23 WTI-MidlandDifferential
Basis differentials: Are your energy stocks earning less than you think?

Basis differentials can affect what prices oil companies receive for their production and are worth monitoring.

15 Year Old Vessel Price 2013-03-08
Panamax and Supramax purchase prices continue decline

Purchase prices for ships are often good indicators of financial health in the shipping industry. When shipping demand is growing more than the supply of ships, shipping companies will place…

China Met Coal Import and Shipping 2013-04-18
China's coking coal imports have interestingly moved opposite to shipping rates

China’s metallurgical coal imports make up ~15% to 25% of global metallurgical coal import volume. Rising imports are often a positive for the shipping industry, as it means more distribution…

Germany factory order
Germany's December factory orders may not be that bad

Germany is Europe’s largest economy and has helped cover China’s steel production increase for the past five years. Therefore, rising factory orders in Germany is positive for China because the…

Falling tanker orderbook level supports bearish fundamentals

The crude oil tankers orderbook is one of the most important measures that affects the performance of tanker investments. In a supply driven market, when there is excess supply and…

2013.01.25 - Crude Inventories
Higher than expected build in crude inventories is bearish indicator for crude prices and stocks

On January 24, the US Department of Energy (DOE) reported a build in crude oil inventories of 2,813 thousand (or 2.8 million) barrels.

2013.01.23 - Natural Gas LT v2
Natural gas prices continue rally, positive for some upstream energy names

Natural gas spot prices closed at $3.55/MMBtu (millions of British thermal units) on 1/23/13, up $0.12 from the prior week.

China PMI Data
China's October activity may point to shipping upside

China’s Purchasing Managers’ Index (PMI) is an important outlook indicator for dry bulk shipping companies. The index has been closely followed by investors lately in order to assess China’s ability to sustain…

2013.02.07 - Saudi Oil Production
Saudi Arabia production remains near lows, supports oil prices and stocks

Saudi Arabia produced ~9.1 million barrels a day of oil in January, the lowest figure since May 2011, which is providing some support to crude oil prices.

2013.02.07 - China Export Growth
Strong China export figure a positive for oil prices and stocks

Strong economic data from China provides support to crude oil prices.

2013.02.07 - WTI Midland
Wide WTI-Midland spreads hit Permian producers

Increases in Permian oil production have caused Midland crude to trade at a discount to WTI, hurting some Permian producers.

2013.02.07 - Natural Gas Inventories
Another nat gas inventory draw below expectations, bearish for energy stocks

For the week ended February 7, natural gas inventories fell 118 bcf compared to consensus estimates of a 127 bcf withdrawal.

Brazil IGP Jan
Brazil's high inflation may trigger rates increase and market drop

The persistently high inflation in Brazil is likely to negatively affect its stock market. Inflation is a key metric for economies governed by an inflation-targeting monetary policy, such as Brazil…

Baltic Dry Index
Further downside risk remains for dry bulk index, down from 1,100

The Baltic Dry Index (BDI) is one of the metrics investors use as a leading indicator for global economic and trade outlook. A rising BDI is generally a positive for…

Higher scrapping rate reveals stress among tankers

The number of tankers being scrapped is directly related to capacity. While often overlooked, it can be a useful indicator in reviewing supply side fundamentals, especially in a supply driven…

2013.01.26 - Nat Gas Inventories
Natural gas inventory draw slightly below estimates, bearish indicator for nat gas stocks/ETFs

Every week, the Energy Information Administration (EIA) releases data on how much natural gas is stored in various facilities across the US. These figures, also called “natural gas inventories,” can…

2013.01.28 - Frac Spread Graph
NGL fractionation spreads up last week, positive for select MLP names

Last week saw most natural gas liquids (NGL) prices move upward, a positive for some master limited partnerships (MLPs) involved in natural gas processing and fractionation such as MarkWest Energy…

China PMI
China's manufacturing activity has significant impact on shipping

China is often called the factory of the world, as the country is the world’s largest manufacturing center. Naturally, it is also the largest importer of raw materials from countries…

Iron Ore Inventory
Port inventory might have damped shipping stocks

Iron ore inventory levels of Chinese ports can impact purchasing decisions. Iron ore represents the largest category of product shipment within the dry bulk shipping industry, and most of the…

Global manufacturing PMI
JP Morgan's global manufacturing activity index jumps

Global manufacturing activity is a leading measure for the shipping industry. This is because economic activity is highly correlated with global trade, and manufacturing activity has historically been more sensitive…

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