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Money Rotation From Commodities To Tech
Wednesday, April 13, 2011 - 11:20am | 237As the markets bounce today, the technology sector seems to be the strongest. Stocks like Apple Inc. (NASDAQ: AAPL), International Business Machines Corp. (NYSE: IBM) and Google Inc. (NASDAQ: GOOG) are all higher, while oil stocks like Exxon Mobil Corporation (NYSE: XOM) continue to fall. It...
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How: Calling The Oil Bounce Today
Wednesday, April 13, 2011 - 11:07am | 331Oil bounced today after dropping sharply the last two days. After topping out around $113.00 per barrel last Friday, oil collapsed into the $105.00 range. This drop over the last two days scared many speculators into selling oil. News hit the market that Goldman Sachs Group, Inc. (NYSE: GS) had...
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BP Deal May Be Dropped By Rosneft Because Of Swap Expiry -Bloomberg (BP)
Wednesday, April 13, 2011 - 10:01am | 39Bloomberg reported that Russia's largest oil producer, Rosneft, could potentially drop Arctic exploration plans with British Petroleum (NYSE: BP) after an agreement on a share swap expires tomorrow, said Otkritie Securities.
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Options Brief: Murphy Oil Corporation (MUR)
Wednesday, April 13, 2011 - 9:55am | 85Shares of Murphy Oil Corporation (NYSE: MUR) are higher on the session by 1.45%, trading at $74.12. Overall call volume is now running at 2.20x the daily average, with 52% of all calls traded being purchases on the offer. 3,329 contracts have traded on the session so far. Murphy Oil Corporation...
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Proposed DEP Waiver Rule Blows Major Hole in State Environmental Protection
Wednesday, April 13, 2011 - 9:27am | 122Leaders from environmental and labor groups across the state came together today calling on the Christie administration to withdraw a waiver rule proposed by the NJ Department of Environmental Protection (DEP).
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Pre-market News and Views
Wednesday, April 13, 2011 - 8:27am | 500What a turnaround the market is making this morning! The S&P 500 e-mini futures are trading higher by 9.50 points to 1317.75 per contract. This move higher in the futures before the opening bell at the New York Stock Exchange is almost recapturing all of yesterday's sharp decline. Could this...
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Oppenheimer Raises PT on Murphy Oil Corporation to $90 (MUR)
Wednesday, April 13, 2011 - 6:53am | 151Oppenheimer is out with its report today on Murphy Oil Corporation (NYSE: MUR), raising its PT from $82 to $90. In a note to clients, Oppenheimer writes, "We reiterate our Outperform rating on MUR shares as we believe their upside potential is greater than the downside risk from a sharp decline in...
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BP Considering Drastic Measures To Save Rosneft Pact
Tuesday, April 12, 2011 - 8:38pm | 335How desperate is BP (NYSE: BP) to save its $16 billion share swap with Russia's OAO Rosneft, that country's largest oil producer? Apparently VERY desperate, so desperate in fact that Europe's second-largest oil company is mulling pulling out of its joint venture with Russian oligarchs, TNK-BP. BP...
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Benzinga's Top ETF Decliners, April 12th (ERX, SOXL, UCO, DAG)
Tuesday, April 12, 2011 - 6:03pm | 173Direxion Daily Energy Bull 3X Shares(ETF) (NYSE: ERX) dropped 8.94% on Tuesday, as ConocoPhillips (NYSE: COP) fell 3.69%. In the space, Chevron Corporation (NYSE: CVX) traded 3.34% lower and it closed at $104.18. Direxion Daily Semiconductor Bull 3X Shares (NYSE: SOXL) lost 6.13%, and closed at $...
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Benzinga's Top ETF Gainers, April 12th (ERY, DTO, SOXS, CZI)
Tuesday, April 12, 2011 - 5:48pm | 195Direxion Daily Energy Bear 3X Shares(ETF) (NYSE: ERY) led the gainers among the ETFs on Tuesday, with an increase of 9.08%. In the space, ConocoPhillips (NYSE: COP) fell 3.69%, and Chevron Corporation (NYSE: CVX) dropped 3.34%. Powershares DB Crude Oil Double Short ETN (NYSE: DTO) jumped 6.53% as...
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Oil Finds Support At Master Level
Tuesday, April 12, 2011 - 1:08pm | 284As oil fell sharply, the markets followed. Demand destruction fears, a Goldman Sachs bearish call and a disaster in Japan surely to rock their economy for years were all culprits. Speculators fled with arms flailing in the air, trying not to get clipped on the way. As oil retreated to the $105...
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Alert: Commodity Selling Shakes Markets
Tuesday, April 12, 2011 - 10:54am | 372The markets are seeing a steep decline today as broad based commodity dumping surges. The SPDR S&P 500 ETF (NYSE: SPY) is trading at $131.16, -1.30 (-0.98%). Oil is leading the decline for a second straight day as spot crude has fallen from $113 a barrel two days ago to its current level at $...
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Options Brief: Murphy Oil Corporation (MUR)
Tuesday, April 12, 2011 - 10:24am | 85Shares of Murphy Oil Corporation (NYSE: MUR) are lower on the session by 3.29%, trading at $72.63. Overall put volume is now running at 6.95x the daily average, with 34% of all puts traded being purchases on the offer. 5,682 contracts have traded on the session so far. Murphy Oil Corporation is...
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Will the BP-Rosneft Deal Get Called Off?
Tuesday, April 12, 2011 - 8:44am | 208British Petroleum (NYSE: BP) thought it was closing in on an $16 billion deal with Russia's Rosneft. It may want to rethink those plans following the resignation of Igor Sechin as Rosneft chairman. Sechin, who also serves as Deputy Prime Minister, resigned as Rosneft's chairman after Russian...
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JP Morgan On CVX 1Q11 Interim Update
Tuesday, April 12, 2011 - 8:33am | 107JP Morgan has issued a report following the 1Q11 interim update on Chevron (NYSE: CVX). According to the report, “On Monday after market close, N-rated Chevron (CVX) released its 1Q11 interim update, highlighting key operating and market factors likely to impact 1Q11 reported results. In our view...