DB Crude Oil Double Short ETN (DTO) - NYSEARCA
  • Oct. 16, 2014, 10:58 AM
    • Baker Hughes (BHI -10.2%) CEO Martin Craighead says during this morning's earnings conference call that oil prices below $75/bbl for a few months may cause energy companies to pull back spending on exploration and production.
    • But BHI customers don’t believe oil prices will stay low, the CEO says, adding that “the returns are still quite attractive... right now, it’s full steam ahead.”
    • Craighead says BHI is on pace to deliver solid results in Q4, deepwater projects are moving forward, and customers spending should remain stable.
    • T. Boone Pickens, among others, have said $80 U.S. oil for a quarter would cause E&P companies to reassess; West Texas crude fell below $80 this morning for the first time since June 2012, and now trades at ~$81.
    • Schlumberger (SLB -0.6%), the no. 1 supplier of oilfield services, is scheduled to release quarterly results after today's close.
    • Earlier: Baker Hughes misses estimates on weaker Gulf of Mexico drilling activity.
    • ETFs: USO, OIL, UCO, OIH, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | Oct. 16, 2014, 10:58 AM | 1 Comment
DTO Description
The DB Crude Oil Double Short ETN provides -2x the daily return of an index that tracks the performance of futures contracts on crude oil.
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