Recent Articles
Crude Oil Stocks Point Fingers Over Gulf Spill (RIG, BP, SII, SLB, WFT, HAL)
The CEO of Transocean Ltd. (NYSE: RIG), Steven Newman, will be testifying in front of the US Senate Committee on Energy and Natural Resources later this morning. But don't think RIG is the only stock in the hot seat. Newman names a number of other crude oil companies as responsible parties: Transocean was the offshore drilling contractor for BP plc (NYSE: BP); the mud sub-contractor was a joint venture between Smith International, Inc. (NYSE: SII) and Schlumberger Ltd. (NYSE: SLB) which are in the process of merging; the casing sub-contractor was Weatherford International, Ltd. (NYSE: WFT); and the cementing sub-contractor was Halliburton Co. (NYSE: HAL).
Leaking Oil Well in the Gulf Shuts Down New Drilling (BP, RDS-A, RIG)
The leaking well owned by BP plc (NYSE: BP) has now led to a cessation of new permits for drilling offshore the US, including Alaska. Royal Dutch Shell plc (NYSE: RDS-A) has permits in the works to begin drilling exploration wells at its offshore leases in the Chukchi and Beaufort Seas. The federal government had already postponed a planned lease sale offshore of Virginia.
Net Neutrality Gets a Boost from FCC (CMCSA, TWC, CVC, T, VZ, GOOG, AMZN, EBAY)
Exactly a month ago, a federal court ruled that the US Federal Communications Commission does not have the authority to regulate broadband Internet service providers. The ruling came in a lawsuit against the FCC brought by Comcast Corp. (NYSE: CMCSA) in response to an FCC order that Comcast disclose how it managed its network and develop a publicly available plan for new, non-discriminatory practices. Comcast's successful challenge was based on a reading of the FCC's mandate that excluded broadband from the commission's purview because it was not a "telecommunications service." Other broadband and cable providers such as Time Warner Cable Inc. (NYSE: TWC), Cablevision Systems Corp. (NYSE: CVC), AT&T Inc. (NYSE: T), and Verizon Communications Inc. (NYSE: VZ) are also covered by the court's ruling.
Wells Fargo Initiates Coverage on Solar Stocks (WFC, TSL, SOL, SOLF, YGE, CSIQ, STP, TAN)
Wells Fargo Securities, a division of Well Fargo Corp. (NYSE: WFC) has apparently decided that the solar power industry is here to stay. The company has initiated coverage on six Chinese solar makers with no less than a 'Market Perform' rating on any. Three companies, Trina Solar Ltd. (NYSE: TSL), ReneSola Ltd. (NYSE: SOL), and Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF) were all started at 'Outperform'. Canadian Solar Inc. (NASDAQ: CSIQ), SunTech Power Holdings Co. Ltd. (NYSE: STP), and Yingli Green Energy Holding Co. (NYSE: YGE) were started at 'Market Perform'.
Foster Wheeler Earnings Bode Well for Construction Stocks Fluor, McDermott (FWLT, FLR, MDR)
Engineering and construction firm Foster Wheeler AG (FWLT) is the first of the world's three largest publicly traded construction firm to report earnings. Competitors Fluor Corp. (FLR) and McDermott International, Inc. (MDR) are scheduled to report next week.
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