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Investors are closely watching the action in oil services names after the US government issued its first deepwater drilling permit since the BP catastrophe.
We’re likely to see the moratorium lifted on more of the 16 wells in the Gulf of Mexico (operated by 13 different companies) that have been under the moratorium since last year. But this is not necessarily a shift in the Obama administration’s offshore drilling policy.
The U.S. has approved its first deepwater drilling permit after the BP spill. This first permit went to Noble Energy, which is an exploration and production company. This will be a benefit to many deepwater drillers.
Yet even after the intensity of Tuesday’s move, NYMEX crude still ranks among the worst ways to play energy so far in 2011. Including the spike, crude is up a mere 2.4 percent year to date, after spending most of the last seven weeks in negative territory.
The "Mad Money" host explains why these takeovers are happening and what it suggests about the market.
Stocks finished higher Tuesday with the Dow up for a seventh-consecutive session, after investors shrugged off a handful of mixed earnings reports and China's latest interest rate hike.
Stocks climbed Tuesday, putting the Dow on track for its seventh-consecutive gain, after investors shrugged off China's interest rate hike for the second time in just over a month and a handful of disappointing earnings reports.
Stocks rose Tuesday, led by financials, after investors shrugged off China's interest rate hike for the second time in just over a month and a handful of disappointing earnings reports.
Stock index futures pointed to a weaker open Tuesday after China's central bank raised key rates for the second time in just over a month and as a handful of earnings reports disappointed.
The "Mad Money" host explains why stocks are undervalued right now.
Stocks ended higher Monday with the Dow and S&P 500 hitting their highest levels since June 2008 amid a flurry of M&A activity and several positive earnings news.
Billionaire investor Carl Icahn invested in the energy sector in the second quarter even while pursuing more high-profile targets like Motorola and Lions Gate Entertainment, according to a regulatory filing Monday.
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, arguing that drilling had to be restarted after the company halted operations in response to delayed payments from the country's state oil company.
Over the past several weeks Goldman has been leading the S&P by about a couple hours. But on Thursday they decoupled. How will they reconcile on Friday?
Considerable confusion surrounding the president's new order on Gulf of Mexico drilling, most of it not good for the deepwater drillers: 1) a 6-month moratorium on permitting for new offshore oil and gas wells 2) the halting of all deepwater wells. The second part was a surprise to everyone. The issue: how does this affect earnings of deepwater drillers?
In the wake of the terrible oil spill in the Gulf of Mexico, Joe Terranova is hearing some big changes lie ahead in the oil services sector.
Offshore drillers are again under pressure on concerns that there may be a partial shutdown in drilling activity in the Gulf of Mexico: Hercules, Diamond Offshore, Noble and ENSCO are again weak today, as are smaller exploration and production firms with a primary presence there. But attention has moved this morning to those who might be involved in the cleanup.
What follows is a look at stocks in the S&P 500 displaying unusual volume in today's trading session.
The S&P 500 is down today, and true to the trend of the past few months, oil is following. Read on to see what's behind this pattern.