24 days ago
Oil prices have been on a wild ride this year, and most investors **** ume the story is simple: Less crude moving through the Strait of Hormuz means higher prices at the pump.
Exxon Mobil's leadership says that take misses the real problem.
Speaking at the Barclays 40th Annual Energy Power Conference on Sept. 9, Chief Financial Officer Neil Hansen told **** ysts the bigger threat to the energy system isn't crude supply, but refining.
The distinction matters for anyone holding Exxon Mobil (XOM) stock or watching gas prices climb, as it changes how long the pain might last and which part of the business could benefit.
Hansen explained that when a shock like the Middle East conflict unfolds, markets usually respond in a similar pattern.
#hansen #energy
Exxon Mobil's leadership says that take misses the real problem.
Speaking at the Barclays 40th Annual Energy Power Conference on Sept. 9, Chief Financial Officer Neil Hansen told **** ysts the bigger threat to the energy system isn't crude supply, but refining.
The distinction matters for anyone holding Exxon Mobil (XOM) stock or watching gas prices climb, as it changes how long the pain might last and which part of the business could benefit.
Hansen explained that when a shock like the Middle East conflict unfolds, markets usually respond in a similar pattern.
#hansen #energy
26 days ago
October WTI crude oil (CLV26) closed up +4.44 (+4.38%) on Tuesday, and October RBOB gasoline (RBV26) closed up +0.1481 (+4.46%).
Crude oil and gasoline prices rallied sharply for a second day on Tuesday, with crude posting a 3.75-month high and gasoline posting a 3-week high. Supply risks are underpinning crude oil prices as energy exports from the Middle East remain limited, tightening global supplies.
Goldman Sachs Expects Fed Chair Kevin Warsh to Raise Rates This Week — But Not Because of Oil Prices.
Crude Prices Soar as Global Oil Supplies Continue to Tighten
Middle East Supply Constraints Lift Crude Oil Prices
#supply
Crude oil and gasoline prices rallied sharply for a second day on Tuesday, with crude posting a 3.75-month high and gasoline posting a 3-week high. Supply risks are underpinning crude oil prices as energy exports from the Middle East remain limited, tightening global supplies.
Goldman Sachs Expects Fed Chair Kevin Warsh to Raise Rates This Week — But Not Because of Oil Prices.
Crude Prices Soar as Global Oil Supplies Continue to Tighten
Middle East Supply Constraints Lift Crude Oil Prices
#supply
1 month ago
Stellantis N.V. (NYSE:STLA)'s long-idled Belvidere ******* embly Plant in Illinois has been a case study for how a plant reopening can be pushed further into the future. The plant has been dormant since February 2023, when Stellantis N.V. (NYSE:STLA) ended the Jeep Cherokee production and laid off over 1,300 employees. A 2027 production target for Belvidere has now shifted, with Stellantis targeting pilot production of the next-generation Cherokee in the first half of 2028 and retail production in the second half of 2029, even as Stellantis portrays the news as a larger investment rather than a delay.
Stellantis N.V. (NYSE:STLA) announced an increase in its Belvidere investment to more than $800 million, up from a previous commitment of $600 million or more, and confirmed that the plant will produce the next-generation Jeep Cherokee on its new STLA One platform, the first vehicle built in the US on that modular design, which the company claims will improve manufacturing efficiency and reduce costs.
However, according to UAW Local 1268 president Matt Frantzen, citing internal records and talks with company executives, the updated schedule pushes pilot production into the first half of 2028, while retail production is not targeted to begin until the second half of 2029, roughly two years later than Stellantis' previous 2027 initial-production target.
The Belvidere news is a grave situation developing north of the border. Unifor, the Canadian union that represents Detroit Three autoworkers, stated that Stellantis N.V. (NYSE:STLA) has signed an MOU with Canadian armored-vehicle maker Roshel outlining a potential sale of its Brampton, Ontario ******* embly plant, which has been idle since 2023. According to union president Lana Payne, Stellantis N.V. (NYSE:STLA) has yet to provide the official year's notice required by the collective agreement. Payne described it as a "lose-lose scenario," claiming Stellantis' 2023 commitment to keep Brampton staffed had been broken.
The two stories are directly related. Brampton had been scheduled to build the Jeep Compass, with retooling beginning in early 2024 before Stellantis N.V. (NYSE:STLA) paused it in 2025 and then, that October, moved Compass manufacturing to the US completely, the same reassignment that sent the model to Belvidere.
#stellantis #NYSE
Stellantis N.V. (NYSE:STLA) announced an increase in its Belvidere investment to more than $800 million, up from a previous commitment of $600 million or more, and confirmed that the plant will produce the next-generation Jeep Cherokee on its new STLA One platform, the first vehicle built in the US on that modular design, which the company claims will improve manufacturing efficiency and reduce costs.
However, according to UAW Local 1268 president Matt Frantzen, citing internal records and talks with company executives, the updated schedule pushes pilot production into the first half of 2028, while retail production is not targeted to begin until the second half of 2029, roughly two years later than Stellantis' previous 2027 initial-production target.
The Belvidere news is a grave situation developing north of the border. Unifor, the Canadian union that represents Detroit Three autoworkers, stated that Stellantis N.V. (NYSE:STLA) has signed an MOU with Canadian armored-vehicle maker Roshel outlining a potential sale of its Brampton, Ontario ******* embly plant, which has been idle since 2023. According to union president Lana Payne, Stellantis N.V. (NYSE:STLA) has yet to provide the official year's notice required by the collective agreement. Payne described it as a "lose-lose scenario," claiming Stellantis' 2023 commitment to keep Brampton staffed had been broken.
The two stories are directly related. Brampton had been scheduled to build the Jeep Compass, with retooling beginning in early 2024 before Stellantis N.V. (NYSE:STLA) paused it in 2025 and then, that October, moved Compass manufacturing to the US completely, the same reassignment that sent the model to Belvidere.
#stellantis #NYSE
1 month ago
Billionaire David Tepper used the second quarter to make a striking trade within the AI hardware chain. Appaloosa Management cut its Micron Technology, Inc. (NASDAQ:MU) share count by 41.4%, while increasing Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) for a sixth consecutive quarter. The filing does not disclose Tepper's rationale. The positions instead contrast a cyclical HBM supplier with a diversified advanced foundry serving nearly every major chip designer. That makes the comparison about earnings durability as much as exposure to total AI demand.
Charles Knowles / Shutterstock.com
Micron Technology, Inc. (NASDAQ:MU) has a powerful rebuttal. It reported record fiscal third-quarter results as high-bandwidth memory became critical to AI accelerators. HBM requires more capacity and technical sophistication than conventional memory, potentially supporting stronger pricing and margins. If supply remains disciplined while demand expands, Micron's cycle may be structurally better than the old commodity pattern. The bear case is its planned capital spending of more than $25 billion and the possibility that today's shortages invite too much future supply.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) offers a broader toll-road thesis. Its second-quarter gross margin reached 67.7%, and the ongoing 2-nanometer ramp can deepen its lead in advanced manufacturing. It benefits whether customers favor Nvidia, AMD, custom accelerators, or other designs. However, that dominance brings enormous fabrication costs, customer concentration, geopolitical exposure, and the difficulty of maintaining exceptional margins while new capacity comes online.
The two holdings do not necessarily predict weaker AI demand. They simply provide two different ways to monetize it. Micron has greater operating leverage if HBM prices stay tight, but Taiwan Semiconductor has more diversified exposure across the entire computing stack. The first offers a sharper cyclical upside; the second offers a more durable platform with risks investors cannot ignore. That tradeoff explains why reducing one position need not invalidate its thesis.
#quarter #semiconductor
Charles Knowles / Shutterstock.com
Micron Technology, Inc. (NASDAQ:MU) has a powerful rebuttal. It reported record fiscal third-quarter results as high-bandwidth memory became critical to AI accelerators. HBM requires more capacity and technical sophistication than conventional memory, potentially supporting stronger pricing and margins. If supply remains disciplined while demand expands, Micron's cycle may be structurally better than the old commodity pattern. The bear case is its planned capital spending of more than $25 billion and the possibility that today's shortages invite too much future supply.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) offers a broader toll-road thesis. Its second-quarter gross margin reached 67.7%, and the ongoing 2-nanometer ramp can deepen its lead in advanced manufacturing. It benefits whether customers favor Nvidia, AMD, custom accelerators, or other designs. However, that dominance brings enormous fabrication costs, customer concentration, geopolitical exposure, and the difficulty of maintaining exceptional margins while new capacity comes online.
The two holdings do not necessarily predict weaker AI demand. They simply provide two different ways to monetize it. Micron has greater operating leverage if HBM prices stay tight, but Taiwan Semiconductor has more diversified exposure across the entire computing stack. The first offers a sharper cyclical upside; the second offers a more durable platform with risks investors cannot ignore. That tradeoff explains why reducing one position need not invalidate its thesis.
#quarter #semiconductor
1 month ago
Sept 2 (Reuters) - Utility PG&E said on Wednesday it will defer about $2 billion in 2027 spending, leaving a capital plan of about $11.4 billion, as it launches a strategic review amid wildfire liability concerns.
The review comes as PG&E faces renewed uncertainty over liability costs after a Senate bill amendment did little to reduce utilities' exposure to expenses related to the fires or address the long-term solvency of California's fund for it.
The company had previously planned to spend $13.4 billion in 2027.
"California's wildfire liability framework continues to create financing risks that drive higher costs, affect customer affordability, and limit investment in the energy system," CEO Patti Poppe said.
"Something has to change so that we can better serve our customers."
#sept #senate
The review comes as PG&E faces renewed uncertainty over liability costs after a Senate bill amendment did little to reduce utilities' exposure to expenses related to the fires or address the long-term solvency of California's fund for it.
The company had previously planned to spend $13.4 billion in 2027.
"California's wildfire liability framework continues to create financing risks that drive higher costs, affect customer affordability, and limit investment in the energy system," CEO Patti Poppe said.
"Something has to change so that we can better serve our customers."
#sept #senate
1 month ago
CINF and TROW both raised regular dividends through the 2008 crisis and 2020 pandemic, with TROW now yielding 4.57%.
RLI's regular yield is just 1%, but recurring special dividends pushed its trailing twelve-month total payout to $4.68 per share.
Act now: the ***** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and T. Rowe Price didn't make the cut. Grab the names FREE today.
Financial stocks get stress-tested harder than any other sector during recessions, so an income streak that survived both the Global Financial Crisis and the pandemic shock is a genuine credential. These four names did more than survive: verified dividend records show each one paid a higher regular dividend in 2008 than in 2007, and again in 2020 than in 2019. Cincinnati Financial's quarterly payout went from $0.56 in 2019 to $0.60 throughout 2020, and today the same company pays $0.94 per quarter. That is the shape of a dividend income stream you can actually plan around.
Cincinnati Financial (NASDAQ:CINF) yields 2.1% at a recent price of $171.08, with an annualized forward dividend of $3.76 after the board lifted the quarterly rate to $0.94.
#price
RLI's regular yield is just 1%, but recurring special dividends pushed its trailing twelve-month total payout to $4.68 per share.
Act now: the ***** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and T. Rowe Price didn't make the cut. Grab the names FREE today.
Financial stocks get stress-tested harder than any other sector during recessions, so an income streak that survived both the Global Financial Crisis and the pandemic shock is a genuine credential. These four names did more than survive: verified dividend records show each one paid a higher regular dividend in 2008 than in 2007, and again in 2020 than in 2019. Cincinnati Financial's quarterly payout went from $0.56 in 2019 to $0.60 throughout 2020, and today the same company pays $0.94 per quarter. That is the shape of a dividend income stream you can actually plan around.
Cincinnati Financial (NASDAQ:CINF) yields 2.1% at a recent price of $171.08, with an annualized forward dividend of $3.76 after the board lifted the quarterly rate to $0.94.
#price
1 month ago
HP Inc. (NYSE:HPQ) delivered an unusual combination in its fiscal third quarter: Personal Systems revenue rose 18% year over year to $11.8 billion even though unit shipments fell 16%. The divergence drew scrutiny after the company reported record third-quarter revenue and raised its fiscal 2026 outlook.
Mechanically, the reported changes imply that Personal Systems revenue per unit increased about 40%. However, that is not a clean measure of like-for-like PC pricing. The segment includes services and other attached offerings, while the quarter's mix shifted toward commercial, premium, and AI-enabled machines. HP Inc. (NYSE:HPQ) did not disclose a precise bridge.
The mix shift has substance. AI PCs accounted for 46% of Personal Systems shipment mix, while HP Inc. (NYSE:HPQ) gained 2.6 percentage points of share sequentially in premium categories and 1.8 points sequentially in workstations. Commercial products, which generally carry higher configurations than consumer PCs, generated more than 70% of segment revenue. Revenue rose 22% in commercial Personal Systems and 10% in consumer Personal Systems.
The company is also selling more around the device. Management said peripherals, collaboration products and services such as its Workforce Experience Platform contributed one-third of Personal Systems gross profit. These offerings help explain why segment revenue can rise faster than hardware units without relying entirely on price increases.
Cash generation strengthened the bull case. HP Inc. (NYSE:HPQ) produced $1.7 billion of operating cash flow and $1.6 billion of company-defined free cash flow, after adjustments for lease-related investment and capital spending. The company raised its fiscal-year free-cash-flow outlook to $3.0 billion to $3.2 billion.
#personal #systems #cash
Mechanically, the reported changes imply that Personal Systems revenue per unit increased about 40%. However, that is not a clean measure of like-for-like PC pricing. The segment includes services and other attached offerings, while the quarter's mix shifted toward commercial, premium, and AI-enabled machines. HP Inc. (NYSE:HPQ) did not disclose a precise bridge.
The mix shift has substance. AI PCs accounted for 46% of Personal Systems shipment mix, while HP Inc. (NYSE:HPQ) gained 2.6 percentage points of share sequentially in premium categories and 1.8 points sequentially in workstations. Commercial products, which generally carry higher configurations than consumer PCs, generated more than 70% of segment revenue. Revenue rose 22% in commercial Personal Systems and 10% in consumer Personal Systems.
The company is also selling more around the device. Management said peripherals, collaboration products and services such as its Workforce Experience Platform contributed one-third of Personal Systems gross profit. These offerings help explain why segment revenue can rise faster than hardware units without relying entirely on price increases.
Cash generation strengthened the bull case. HP Inc. (NYSE:HPQ) produced $1.7 billion of operating cash flow and $1.6 billion of company-defined free cash flow, after adjustments for lease-related investment and capital spending. The company raised its fiscal-year free-cash-flow outlook to $3.0 billion to $3.2 billion.
#personal #systems #cash
2 months ago
BitGo Holdings (NYSE: $BTGO) has acquired NYDIG's institutional trading business, adding derivatives, financing and structured products to a platform already built around custody, settlement and digital ****** et infrastructure.
The transaction brings about 30 NYDIG employees to BitGo along with roughly 250 institutional client relationships, according to Reuters.
NYDIG's trading unit serves ****** et managers, hedge funds, corporates, family offices and other sophisticated investors across financing, derivatives and capital markets products. Folding that business into BitGo gives the crypto custodian a wider institutional offering that can connect trading and risk management with its regulated custody and settlement stack.
More From Cryptoprowl:
Bernstein Forecasts Bitcoin Will Reach $150,000 By Mid-2027
#institutional #products #custody #settlement
The transaction brings about 30 NYDIG employees to BitGo along with roughly 250 institutional client relationships, according to Reuters.
NYDIG's trading unit serves ****** et managers, hedge funds, corporates, family offices and other sophisticated investors across financing, derivatives and capital markets products. Folding that business into BitGo gives the crypto custodian a wider institutional offering that can connect trading and risk management with its regulated custody and settlement stack.
More From Cryptoprowl:
Bernstein Forecasts Bitcoin Will Reach $150,000 By Mid-2027
#institutional #products #custody #settlement
2 months ago
Former Warren Buffett watchers are now following CEO Greg Abel's moves as he leads Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) into a new era. So far, the playbook hasn't changed too much, although Abel is definitely making his own stamp on the company.
Buffett himself initiated the holding company's relatively new position in Google parent company Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), and he attributed the recent aggressive confidence in that position, indicated by a large addition of the stock in the second quarter, to his own influence.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Beyond expanding its stake through public shares, it also bought $10 billion worth of the stock in a private placement. Let's look more closely at this recent purchase.
Buffett was notable for his lack of interest in technology stocks when he was CEO of Berkshire Hathaway. He avoided stocks like Amazon and Alphabet for years, telling investors that he stayed away from categories that he didn't really understand.
#alphabet
Buffett himself initiated the holding company's relatively new position in Google parent company Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), and he attributed the recent aggressive confidence in that position, indicated by a large addition of the stock in the second quarter, to his own influence.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Beyond expanding its stake through public shares, it also bought $10 billion worth of the stock in a private placement. Let's look more closely at this recent purchase.
Buffett was notable for his lack of interest in technology stocks when he was CEO of Berkshire Hathaway. He avoided stocks like Amazon and Alphabet for years, telling investors that he stayed away from categories that he didn't really understand.
#alphabet
2 months ago
Tesco Ireland has signed a three-year, €45m ($52.5m) agreement with Freshways to supply sandwiches, wraps, salads and pasta dishes for its meal deal range.
The deal builds on a supplier relationship between the two companies spanning more than two decades.
Headquartered in Finglas, Dublin, Freshways provides more than 40 product lines to the meal deal range under its Crust & Co brand, covering sandwiches, wraps, salads and pasta dishes.
Tesco Ireland fresh category director John Brennan said: "Freshways has been a trusted and valued supplier to Tesco Ireland for many years, consistently delivering high-quality products that our customers love. Their commitment to innovation, quality, and service has helped us build the strongest meal deal offerings in the market."
The contract comes after Freshways put €8m into its Finglas production site, adding "high-care" manufacturing **** e, increasing storage capacity and upgrading refrigeration systems.
#ireland #deal #finglas #pasta
The deal builds on a supplier relationship between the two companies spanning more than two decades.
Headquartered in Finglas, Dublin, Freshways provides more than 40 product lines to the meal deal range under its Crust & Co brand, covering sandwiches, wraps, salads and pasta dishes.
Tesco Ireland fresh category director John Brennan said: "Freshways has been a trusted and valued supplier to Tesco Ireland for many years, consistently delivering high-quality products that our customers love. Their commitment to innovation, quality, and service has helped us build the strongest meal deal offerings in the market."
The contract comes after Freshways put €8m into its Finglas production site, adding "high-care" manufacturing **** e, increasing storage capacity and upgrading refrigeration systems.
#ireland #deal #finglas #pasta
