Vanguard Energy ETF(VDE)- NYSEARCA
  • Dec. 4, 2015, 3:25 PM
    • U.S. crude oil settled 2.7% lower at $39.97 and Brent fell 1.9% to $43 after OPEC decided to roll over its policy of maintaining crude production in order to retain market share - a not unexpected outcome but one that offers no relief in sight for the oil industry's pain.
    • "OPEC not cutting is going to put more pressure on oil prices," and the pressure on companies’ spending will feed through into their investment in increasing their production, says Jefferies equity analyst Jason Gammel. “It’s not as though they’ll shut down existing production, but over time their output will decrease."
    • Don’t expect prices to stabilize until low prices force curtailments of pumping in the U.S., which will not happen until the end of next year, Goldman Sachs analyst Damien Courvalin.
    • Energy stocks (-0.7%) are the only S&P industry sector to decline, as the rest of the market has rebounded from yesterday's drop; some of the big oils - XOM +0.3%, CVX +0.6% - have inched higher, and refiners are mostly higher, but it's another down day for most: DVN -1.2%, CLR -5.9%, MRO -2.3%, HES -1%, COP -0.8%, EOG -0.7%, APC -2.4%, ETE -9.3%, ETP -3.5%, EPD -2.4%, WMB -6.9%.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXI, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Dec. 4, 2015, 3:25 PM | 150 Comments
  • Dec. 4, 2015, 9:12 AM
    | Dec. 4, 2015, 9:12 AM | 9 Comments
  • Dec. 3, 2015, 6:22 PM
    • In a precedent-setting verdict, a federal jury today convicted former Massey Energy CEO Don Blankenship of conspiring to violate federal safety laws in connection with a 2010 coal mine explosion that killed 29 miners.
    • Relatives of those killed and prosecutors praised the decision, even though the jury acquitted Blankenship of making false statements and of securities fraud.
    • Blankenship is believed to be the first top executive of a major U.S. corporation to be convicted of workplace safety-related charges brought after a deadly industrial accident.
    • Blankenship faces a maximum $250K fine and up to a year in prison; sentencing is set for March 23.
    • ETFs: XLE, VDE, ERX, OIH, KOL, ERY, DIG, DUG, BGR, IYE, FENY, FIF, PXJ, RYE, FXN, DDG
    | Dec. 3, 2015, 6:22 PM | 1 Comment
  • Dec. 2, 2015, 3:21 PM
    | Dec. 2, 2015, 3:21 PM | 84 Comments
  • Dec. 2, 2015, 10:57 AM
    • New York Attorney General Schneiderman is calling on U.S. regulators to impose new safety rules requiring energy companies to treat crude oil using a process that removes volatile gases before the fuel can be loaded onto trains.
    • The gases have been linked to fiery explosions after railroad accidents, including the deadly 2013 crash in Quebec.
    • Yesterday, Schneiderman petitioned the U.S. Pipeline and Hazardous Materials Safety Administration to set a cap on the vapor pressure of crude transported by train.
    • Energy companies say vapor pressure is not the best predictor of whether a train’s cargo is likely to explode, and that regulators should focus on keeping trains from running off the rails.
    • ETFs: XLE, VDE, ERX, OIH, XOP, ERY, DIG, DUG, BGR, IYE, IEO, FENY, PXE, FIF, PXJ, NDP, RYE, FXN, DDG
    | Dec. 2, 2015, 10:57 AM | 5 Comments
  • Dec. 1, 2015, 6:55 PM
    • The world's oil companies have canceled or delayed final investment decisions on ~150 projects that could wipe out 19M bbl/day from the world’s hydrocarbons and stay underground for several years longer than expected amid lower crude oil prices, according to a new report from Tudor Pickering Holt.
    • Canada and Norway top the investment bank’s list of deferred projects by country, while surprisingly few deepwater projects have been deferred in the Gulf of Mexico and Brazil.
    • The biggest oil companies account for a third of the 150 projects Tudor Pickering says have been delayed or canceled, a scale that “suggests that companies will have real growth issues toward the end of the decade,” and some will have to buy smaller rivals to make up for it.
    • BP and Chevron (NYSE:CVX) have deferred the largest number of projects, while Exxon (NYSE:XOM) could delay the most oil barrels (~2.5M bbl/day of production capacity from 25 projects); Royal Dutch Shell (RDS.A, RDS.B) is deferring 1.7M bbl/day, but its deal to buy BG Group and its deepwater fields off Brazil has alleviated many of the growth issues it might otherwise face.
    • ETFs: XLE, VDE, ERX, OIH, XOP, ERY, DIG, DUG, BGR, IYE, IEO, IXC, FENY, PXE, IPW, PXJ, FIF, NDP, RYE, FXN, GNAT, SZC, DDG, FILL
    | Dec. 1, 2015, 6:55 PM | 51 Comments
  • Dec. 1, 2015, 4:04 AM
    • World leaders are urging a breakthrough in the UN climate conference in Paris, calling for a "decisive turn in the fight against global warming."
    • While some are voicing concerns regarding the form of a potential agreement, others are arguing that the quality of the deal reached is more important than whether its legally enforceable.
    • As the summit continues into a second day, the capitals of the world's two most populous nations, China and India, were blanketed in hazardous smog, with Beijing on an "orange" pollution alert, the second-highest level.
    • Previously: World leaders gather for UN climate conference (Nov. 29 2015)
    • ETFs: XLE, ERX, VDE, KOL, OIH, ERY, DIG, DUG, IYE, FENY, PXJ, RYE, FXN, DDG
    | Dec. 1, 2015, 4:04 AM | 10 Comments
  • Nov. 29, 2015, 10:01 AM
    • Leaders from nearly 150 countries are gathering in Paris this weekend to discuss a possible new global agreement on climate change.
    • The conference, known as COP21, starts on Monday and will try to craft a long-term deal to reduce greenhouse gas emissions.
    • One key problem is what form an agreement will take. The U.S. for instance will not sign up to a legally binding "treaty" as there would be little hope of getting it through a hostile Congress.
    • ETFs: XLE, ERX, VDE, KOL, OIH, ERY, DIG, DUG, IYE, FENY, PXJ, RYE, FXN, DDG
    | Nov. 29, 2015, 10:01 AM | 87 Comments
  • Nov. 17, 2015, 7:12 PM
    • Marc Lasry, chief executive of distressed investing specialist Avenue Capital, says investing in energy debt offers a "once-in-a-lifetime opportunity," after plunges in oil and other commodity prices left many companies overleveraged.
    • Lasry told the Reuters Global Investment Outlook Summit today that the amount of distressed debt in energy has grown to $250B-$300B from $100B at the start of 2015, which offers opportunities for patient investors not bent on making a quick buck.
    • The oil slump will hurt exploration and production companies, Lasry says, but prices "will always come back. The question is, does it take six months or does it take three years?"
    • ETFs: XLE, VDE, ERX, OIH, XOP, ERY, DIG, DUG, BGR, IYE, IEO, FENY, PXE, FIF, PXJ, NDP, RYE, FXN, DDG
    | Nov. 17, 2015, 7:12 PM | 18 Comments
  • Nov. 16, 2015, 11:17 AM
    • Bullish on consumer discretionary names (NYSEARCA:XLY) since the financial crisis, Thomas Lee downgrades the sector to Neutral while upgrading the beaten-down energy group (NYSEARCA:XLE) to Overweight.
    • At issue for consumer stocks is strengthening labor markets leading to higher wages, and thus driving margin compression. October's strong jobs report confirms what Lee has been hearing anecdotally - it's harder to find qualified applicants.
    • Rotating money into energy, Lee sees reflation, potential dollar declines, and accelerating U.S. investment spending. Lee takes note of the round-trip of energy vs. consumer discretionary. Starting the energy/consumer discretionary ratio at 1 in about 2004, it rose to above 4 prior to the global financial crisis, and has fallen all the way back to 1 today (chart here).
    • ETFs: XLE, VDE, ERX, XLY, OIH, ERY, DIG, XRT, VCR, DUG, BGR, IYE, FENY, RTH, RETL, FIF, PXJ, RYE, FXD, FDIS, FXN, RCD, PMR, DDG
    | Nov. 16, 2015, 11:17 AM | 4 Comments
  • Oct. 27, 2015, 11:34 AM
    | Oct. 27, 2015, 11:34 AM | 40 Comments
  • Oct. 26, 2015, 2:18 PM
    • Natural gas futures are down ~8% as supplies rise toward record levels amid expectations of a warm start to the winter, sending shares of energy companies with heavy exposure to natural gas sharply lower; CHK -8.7%, SM -7.7%, RRC -7.4%.
    • Adding to the volatility is the expiration of the November futures contract Wednesday, which recently was trading at $2.06/MMBtu, a level last seen in 2012.
    • "This could be a blow off bottom," says Again Capital's John Kilduff, who says the price is hit by expectations that a record amount of natural gas will soon be in storage; weekly data show gas storage at 3.81T cf vs. a record 3.93T cf in November 2012.
    • Weather forecasts released last night called for “significant warm trends” across much of the U.S. in the next two weeks, according to MDA Weather Services.
    • Crude oil prices also are lower, as lingering concerns over a global supply glut and weakening demand send prices toward their lowest settlement in six weeks.; WTI -1.5% at $43.95/bbl, Brent -0.8% at $47.61.
    • ETFs: UNG, USO, OIL, XLE, UGAZ, UCO, DGAZ, UWTI, VDE, ERX, OIH, SCO, BNO, BOIL, GAZ, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, KOLD, BGR, USL, IYE, UNL, DNO, FENY, FIF, PXJ, OLO, SZO, RYE, DCNG, FXN, OLEM, DDG
    | Oct. 26, 2015, 2:18 PM | 44 Comments
  • Oct. 23, 2015, 6:45 PM
    • Two dozen states file a lawsuit against Pres. Obama’s carbon emission regulations, the administration's signature climate change rule for power plants, challenging the EPA’s authority to enforce the rules issued in August.
    • The challengers are expected to focus on whether the EPA exceeded its powers by pushing utilities to shift to cleaner forms of energy instead of just focusing on pollution controls at fossil fuel-fired power plants.
    • Senior EPA officials say they are confident the agency's Clean Power Plan is legally sound, but the EPA is relying upon a seldom-used section of the Clean Air Act as its authority for the rules, which leaves an opening for legal scrutiny.
    • Most of the states involved in the legal challenge are reliant on fossil fuels, and all but two of the 24 are led by Republican governors.
    • The EPA rule seeks a 32% cut in the power sector’s carbon emissions by 2030 vs. 2005 levels.
    • ETFs: XLE, XLU, VDE, ERX, OIH, UTG, IDU, VPU, ERY, DIG, DUG, BGR, IYE, GUT, BUI, FENY, PXJ, FIF, RYE, FUTY, RYU, UPW, FXN, FXU, DDG, PUI, SDP, PSCU, TONS, FUGAX
    | Oct. 23, 2015, 6:45 PM | 40 Comments
  • Oct. 23, 2015, 9:37 AM
    | Oct. 23, 2015, 9:37 AM | 27 Comments
  • Oct. 19, 2015, 4:56 PM
    • Lenders so far have reduced only $450M from the borrowing bases of some two dozen public oil companies, ~2% of the capital available under their reloadable credit facilities, Jefferies says.
    • Analysts had expected banks to cut borrowing bases by an average 15% across the sector this fall during their semiannual review of the reserve-based loans they made when crude prices were much higher.
    • SandRidge Energy (NYSE:SD) became the latest to ace its bank review, saying today its lenders did not reduce its $500M borrowing base.
    • Jefferies believes one reason banks have been flexible is that financial regulators have pushed lenders to shore up extra funds to protect against oil company losses.
    • But Jefferies says the banks’ spring 2016 reassessment period “could be much tougher" if oil stays cheap, in part because domestic oil producers have hedged little of next year’s production; the firm expects the 24 producers it tracks to have 2.9x debt to pre-tax earnings by year-end vs. 1.9x at the same time last year.
    • ETFs: XLE, VDE, ERX, OIH, XOP, ERY, DIG, DUG, BGR, XES, IYE, IEO, IEZ, FENY, PXE, PXJ, FIF, NDP, RYE, FXN, DDG
    | Oct. 19, 2015, 4:56 PM | 17 Comments
  • Oct. 9, 2015, 2:26 PM
    • The House passes legislation that would lift the 40-year-old ban on oil exports, giving the oil industry one of its top congressional priorities.
    • But the real test is in the narrowly divided Senate, where stand-alone export legislation is far less likely to advance; in the 261-159 House vote, only 26 Democrats joined 235 Republicans to support the measure, held down by the Obama administration's opposition.
    • More than a dozen oil companies - including Continental Resources (NYSE:CLR), ConocoPhillips (NYSE:COP), Encana (NYSE:ECA), Hess (NYSE:HES), Marathon Oil (NYSE:MRO) and Apache (NYSE:APA) - have been pressing the issue with Congress, arguing that allowing oil exports would eliminate market distortions, create jobs and stimulate more U.S. petroleum production; it also would help companies fetch a higher price on the global oil market.
    • "An extra dollar or two for the price of our product today is very important because our margins are incredibly squeezed,” says ECA's Doug Suttles.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, DIG, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Oct. 9, 2015, 2:26 PM | 101 Comments
VDE Description
Vanguard Energy ETF seeks to track the performance of a benchmark index that measures the investment return of energy stocks.
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Country: United States
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