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Market Updates: Goldman Sachs (NYSE: GS), Philip Morris (NYSE: PM), Citigroup (NYSE: C), Exxon Mobil (NYSE: XOM), XTO Energy (NYSE: XTO)
Goldman Sachs (NYSE: GS) upgraded Philip Morris (NYSE: PM) to “conviction” buy from buy this morning, stating earnings growth is under-appreciated by the market and that volumes should return to growth by mid-2010, assisted by a recovery in emerging markets. Goldman also announced that there is the potential for continued margin improvement as the company stands to benefit from a healthy pricing environment and cost savings. "We believe cigarette pricing continues to have notable headroom for growth in many of the company’s core growth markets as relative cigarette pricing remains low." –MarketWatch
Citigroup (NYSE: C) came to a deal…
14Dec2009 | Jutia Group | 2 comments | ContinuedOil Companies Eye Iraq’s Multibillion Barrel Prize: Exxon Mobil (NYSE: XOM), Royal Dutch Shell (NYSE: RDS.A)
As multinational military forces have left Iraq, international petroleum companies have eagerly descended – seduced by the long-term potential of vast oil reserves off-limits to foreigners for decades. Yet lingering violence, legal questions and political uncertainty make doing business in this country a gamble.
In the first international oil auction held last June, widely seen as a failure, the Iraqi government awarded a firm contract to only a consortium of British Petroleum and the China National Petroleum Co. to further develop the Rumaila field over 20 years. Iraq recently forged an initial agreement with a group comprising Exxon Mobil…
9Dec2009 | OilPrice.com | 0 comments | ContinuedMarket Update: Bank of America (NYSE: BAC), Citigroup (NYSE: C), Exxon Mobil (NYSE: XOM), Yahoo (NASDAQ: YHOO)
It does not say much for the future of plans to rebuild Bank of America (NYSE: BAC) that major candidates for the CEO position question the board’s strategy for running the firm. Many of the bank’s board members were brought in by the government, so the Treasury Department’s thinking about turning the company around is being indirectly questioned as well. The Wall Street Journal has discovered that two of the top candidates to run the bank believe that the firm should be broken into pieces. The paper reports, "The CEO candidates who have questioned the size and scope of the…
2Dec2009 | Jutia Group | 0 comments | ContinuedMarket Updates: Bank of America (NYSE: BAC), Exxon Mobil (NYSE: XOM), Sirius XM Radio Inc. (NASDAQ: SIRI), Boeing Co. (NYSE: BA),
U.S. stock-index futures advanced today, indicating the Standard & Poor’s 500 Index (SP500) will extend its 13- month high, before a report that may show U.S. housing starts rose in October. Bank of America (NYSE: BAC) added 1.5 percent as Paulson & Co. bet the stock will almost double by the end of 2011. Exxon Mobil (NYSE: XOM), the biggest oil company, and Freeport-McMoRan Copper & Gold Inc. were lifted in pre-market trading in New York with crude and metals prices. -Bloomberg
Boeing Co. (NYSE: BA) landed its first major deal of the Dubai Airshow yesterday but was…
18Nov2009 | Jutia Group | 0 comments | ContinuedStock Market Updates: Citigroup Inc. (NYSE: C), Exxon Mobil (NYSE: XOM), Colgate-Palmolive (NYSE: CL), Procter & Gamble (NYSE: PG)
Citigroup (NYSE: C) will assist Vietnam Oil & Gas Group, also known as PetroVietnam, source a $550 million loan for the Nhon Trach II power plant in the south of the country.. “We have authorized Citigroup to help get money from some local and international banks and Citigroup itself will also give us some funding,” Le Tu Hieu, plant management board chair., said. The loan will be for 12 years accompanied by a grace period of zero interest in the first two-and-a-half years. It is remains unknown how much of the loan Citigroup would provide. Vietnam needs more power plants…
29Oct2009 | Jutia Group | 0 comments | Continued
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