Market Currents

• Thursday, October 22, 2009

• 09:57 AM Occidental Petroleum (OXY): Q3 EPS of $1.14 beats by $0.06. Revenue of $4.1B (-41.9%) in-line. Shares -1.5%. (PR) Comment!
• 00:05 AM Notable pre-market earnings: AUO, BDK, BG, BMY, CBE, CELG, CHKP, CIT, CNX, DAL, DHR, DO, DOW, EMC, ERIC, ESV, ETR, FITB, GR, HBAN, HOT, HSY, JBLU, JNS, KMB, LCC, LH, LM, MCD, MJN, MMM, MRK, NCR, NIHD, NUE, NVS, NYT, ORI, OXY, PDS, PLD, PM, PNC, POT, R, RAI, RGC, RS, RTN, RX, SGP, STI, SY, T, TASR, TIN, TMO, TRA, TRV, UNP, UPS, XRX, ZMH Comment!

• Thursday, October 15, 2009

• 16:48 PM What was the difference between energy-trading unit Phibro and Andrew Hall again? Citigroup's (C) conference call revealed that Phibro's contribution this quarter and last was $90M-100M: equal to or less than Hall's compensation. Citi's unloading the unit on Occidental Petroleum (OXY). 1 Comment

• Friday, October 9, 2009

• 09:16 AM Occidental Petroleum (OXY) is buying Citigroup's (C) Phibro oil & gas trading unit for $250M, approximately the net asset value of the unit. Phibro's management agreed to make a "significant investment in Phibro"; bonuses will be deferred. (PR) OXY -0.1% premarket. C -0.7%. 1 Comment

• Thursday, July 23, 2009

• 09:07 AM Occidental Petroleum (OXY): Q2 EPS of $0.84 beats by $0.04. Revenue of $3.7B (-48%) vs. $3.8B. Shares +0.7% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ALXN, BG, BLL, BMY, CBE, CELG, CLS, CME, DHR, DO, ECA, EMC, ESI, ESV, F, FITB, FLIR, GR, HBAN, HOT, HSY, IGT, JBLU, KMB, LCC, LLL, MMM, NCR, NEM, NIHD, NOC, NUE, NYT, OMC, ORI, OXY, PLD, PM, PNC, POT, R, RAI, RS, RTN, RX, SIAL, SPNC, T, TIN, TMO, TRA, UNP, UPS, WYE, XRX, ZMH Comment!

• Thursday, April 23, 2009

• 07:48 AM Occidental Petroleum (OXY): Q1 EPS of $0.50 beats by $0.13. Revenue of $3.07B (-49%) vs. $3.18B. Production was up almost 8% in Q1. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ABC, ALXN, AN, AVT, BDK, BG, BLL, CBE, CIT, CLS, CME, CNX, COP, CP, DHR, DO, EMC, ESI, ESV, EXC, FITB, GMT, GR, HSY, IGT, IVZ, JNS, LCC, LLL, MAR, MI, NCR, NCX, NIHD, NOV, NUE, OMTR, OXY, PENN, PM, PNC, POT, RCL, RS, RSH, RTN, RX, SCG, SEIC, SIAL, STI, SU, SVU, TCB, TMO, UNP, UPS, ZMH 1 Comment

• Friday, April 3, 2009

• 14:56 PM Not surprisingly, CEO pay declined in 2008 - a modest 3.4% to a median of... $7.65M. Top five earners: Sanjay Jha (MOT) $104M. Ray Irani (OXY) $49,9M. Robert Iger (DIS) $49.7M. Vikram Pandit (C) $38.2M. Lousi Camilleri (PM) $36.4M. 2 Comments

• Thursday, February 19, 2009

• 09:28 AM Time to go overweight on energy, Bernstein says, suggesting investors focus on high beta stocks. "With the outlook for the energy space now being as grim as it can be... we believe there is limited downside to the beta energy names," firm says, upping CHK, TLM and RIG while downgrading XOM and OXY. Comment!

• Thursday, January 29, 2009

• 07:50 AM Occidental Petroleum (OXY): Q4 EPS of $1.18 beats by $0.23. Revenue of $4.02B (-27.1%) vs. $4.5B. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: AEP, AMB, AN, AZN, BC, BDK, BLL, CAL, CELG, CL, CNX, D, EK, EQT, ERIC, F, FCS, FO, GNTX, HOT, HP, IP, ITW, JBLU, LCC, LEA, LLL, LLY, MMM, MO, MPW, NWL, OSK, OXY, PCZ, RCL, RDS.A, RTN, SEIC, SII, SNE, TKR, TROW, TXT, XEL, YRCW, ZMH Comment!

• Tuesday, October 28, 2008

• 07:42 AM Occidental Petroleum (OXY): Q3 EPS of $2.78 beats by $0.07. Revenue of $7.1B (+45.8%) vs. $6.5B. [PR] Comment!
• 00:05 AM Notable earnings before Tuesday's open: AMED, ASH, BP, BYD, CHKP, CVG, EL, ELNK, ETR, FMER, HMA, IPG, KSU, MAS, MHP, OXY, RCL, SAP, SCHN, SEPR, SII, TIN, UA, USG, VLO, VSH, WDR, WHR, X Comment!

• Thursday, September 25, 2008

• 09:38 AM Occidental Petroleum (OXY) will spend $1.25B to buy the 50% stake it doesn't already own in two oil-and-gas fields from Plains Exploration & Production (PXP). OXY +0.4%, PXP +1.0%. Comment!

• Friday, September 19, 2008

• 10:29 AM A recent drop in energy prices is setting the stage for a wave of oil-industry consolidation. Majors (RDS.A, BP, XOM) and large conservative energy producers (DVN, OXY) are expected to be buyers. Comment!