Lower crude prices are forcing layoffs in the oil patch, but the numbers are small compared to overall job growth.» Read More
The retrenchment at Civeo Corp, which provides temporary housing for oilfield workers and miners, is the most-severe symptom of pain inflicted on the oil service industry by the slide in crude prices, and may presage similar steps by peers. Analysts and investors say Civeo's problem is that it has spread itself geographically too thin, with not enough cash to...
WILLISTON, N.D., Dec 29- Civeo Corp, which provides temporary housing for oilfield workers and miners, slashed its workforce on Monday and said revenue could fall by a third as slumping crude prices force oil producers to cut costs. The warning adds jitters to the already-wary global oil market and highlights weakness in Australia's coal industry, one of Civeo's...
*Gilead falls as Express Scripts picks AbbVie treatment. *Dow boosted by gains at Intel, IBM. The S&P energy index fell 1.2 percent as the day's weakest sector; Chevron Corp lost 1 percent to $111.76 while Halliburton Co was off 2.2 percent at $39.61.
*Gilead falls as Express Scripts picks AbbVie treatment. *Dow boosted by gains at Intel, IBM. The S&P energy index fell 1.6 percent as the day's weakest sector; Chevron Corp lost 1.3 percent to $111.44 while Halliburton Co was off 1.9 percent at $39.70.
NEW YORK, Dec 18- Investors have wrung their hands over the last several weeks over the effect of lower oil prices on the broader S&P 500, but the relationship between the two is actually starting to break down. "The proof is that oil turned down and the market said,' Oh, that was yesterday's news, today we're moving ahead,"' said Quincy Krosby, market strategist at...
LONDON, Dec 19- Large oil companies flush with cash are expected to seize on the recent collapse in oil prices to begin a shopping spree for smaller rivals, focusing on oil producers and explorers in Africa, Asia and the United States. Those include British oil and gas company BG Group, which produces oil and gas in regions including Brazil, East Africa and Australia.
Trying to pick a bottom in energy stocks: is this the time to go long?
Oil stocks bounced, in their best day in three years, but oil industry analysts say the equities may be premature in celebrating a bottom in oil prices.
*Oil price slump could herald return of mega-mergers. LONDON, Dec 10- Plunging oil prices look set to trigger another wave of industry consolidation after a decade when mega-deals were scarce, but investors want to see mergers that can squeeze out cost savings and only after a lavish dividend is paid. "Anyone who doesn't think consolidation is going to happen must...
Sometimes the worst performers in this year's market can be next year's gems, two pros told CNBC Tuesday.
Small investors loaded up on shares of energy stocks last month amid an epic decline of 40 percent in the price of oil from a recent high in July.
Some of the names on the move ahead of the open.
Are you ready skeedaddy???!!! It's time for the Lightning Round. Cramer makes the call on viewer favorites.
The same thing that happened to the housing market is now happening to the energy market, says Marc Chandler of Brown Brothers Harriman.
Take a look at some of Wednesday's midday movers:
The end of the year can lead investors to seek stock market bargains, but many don't understand how a contrarian really thinks, or trades.
Rumor-chasing traders are betting on serious short-term gains for BP.
CNBC.com Investing Editor John Melloy breaks down the data and reasoning behind which stocks could see a bounce if oil prices continue to rebound.
Recent history shows that when oil has rallied more than 10 percent over a 30-trading-day period, oilfield service companies have benefited.
Oil producer and driller stocks are falling after oil's dip, but other energy companies are also seeing their stocks drop.