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  • LONDON, May 2- Oil prices edged back from 2016 highs on Monday as rising production in the Middle East outweighed a decline in U.S. output and a sliding dollar. Iraq's April exports from southern fields increased, as did seaborne exports from Russia, the biggest exporter outside OPEC. Brent was trading at $47.20 per barrel at 1130 GMT, down 17 cents from its last...

  • DALLAS _ The Howard Hughes Corp. on Monday reported first-quarter net income of $143.8 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Dallas- based company said it had net income of $2.69. This story was generated by Automated Insights using data from Zacks Investment Research.

  • THE WOODLANDS, Texas _ Sterling Construction Co. on Monday reported a loss of $7.3 million in its first quarter. Sterling Construction expects full-year earnings in the range of 25 cents to 40 cents per share, with revenue in the range of $700 million to $735 million. Sterling Construction shares have dropped 14 percent since the beginning of the year.

  • DALLAS _ A.H. Belo Corp. on Monday reported a first-quarter loss of $632,000, after reporting a profit in the same period a year earlier. The Dallas- based company said it had a loss of 3 cents per share. Keywords: A.H. Belo, Earnings Report.

  • KINGWOOD, Texas _ Insperity Inc. on Monday reported first-quarter profit of $32.7 million. Insperity expects full-year earnings in the range of $3.46 to $3.58 per share. Insperity shares have climbed roughly 10 percent since the beginning of the year.

  • The Republican Study Committee, which counts over two-thirds of House of Representatives Republicans as its members, called recently for "the complete elimination of the IRS." Calls to abolish the IRS have not been well thought through, said Republican Representative Charles Boustany in an interview. "Before we start making blanket statements about...

  • Houston- based Diamond Offshore reported a 39.3 percent fall in contract drilling expenses to $212.8 million. Land rig contractor Helmerich and Payne Inc said on Monday its net income fell to $21.2 million, or 19 cents per share, in the second quarter ended March 31, from $153.5 million, or $1.41 per share, a year earlier. Houston- based Diamond Offshore reported a...

  • HOUSTON _ Diamond Offshore Drilling Inc. on Monday reported first-quarter net income of $87.4 million, after reporting a loss in the same period a year earlier. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share. Diamond Offshore Drilling shares have increased 15 percent since the beginning of the...

  • HOUSTON _ Midcoast Energy Partners LP on Monday reported a loss of $19.8 million in its first quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 39 cents per share. Midcoast Energy shares have decreased 18 percent since the beginning of the year.

  • May 2- Rig contractor Diamond Offshore Drilling Inc reported a first-quarter profit, compared with a loss a year earlier, as its ongoing cost-cutting measures pay off. Houston- based Diamond Offshore reported a net profit of $87.4 million, or 64 cents per share, in the quarter ended March 31, compared with a loss of $255.7 million, or $1.86 cents per share, a year...

  • NICKERSON, Neb.— Half-ton pickup trucks crowd the curb outside the One Horse Saloon, a neon Coors Light sign in the window and rib-eye steaks on the menu, but otherwise Nickerson, Nebraska, is nearly silent on a spring evening, with only rumbling freight trains interrupting bird songs. "Maybe it's just an issue of the times in which we live in which so many people want...

  • May 2- Magnum Hunter Resources Corp and its founder Gary Evans are emblematic for the U.S. shale revolution: it started small, borrowed heavily to snap up land and rivals and then crumbled under the weight of debt when prices crashed. With little chance of seeing hundreds of millions of dollars in debt repaid, creditors including Goldman Sachs, Highbridge Capital...

  • NEW YORK, May 2- An energy market rout has ravaged fortunes from Texas to North Dakota and hit thousands of small investors, but some tycoons are still coining it in thanks to a piece of financial engineering that has tilted the playing field in their favor. U.S. pipeline billionaire Kelcy Warren, for example, has pocketed over $300 million in cash payouts from his...

  • The contract governing Halliburton's cash-and-stock acquisition of Baker Hughes, which was valued at $34.6 billion when it was announced in November 2014, and is now worth about $28 billion, expired on Saturday without an agreement by the companies to extend it, the person added. The Houston- based company will continue to focus on keeping its profit margins...

  • AUSTIN, Texas— Apple has created more than 2,000 new jobs in Austin since 2012 and is on track to meet the area hiring goals it promised in exchange for millions of dollars in public incentives, according to documents filed with the city. The technology giant is set to receive $35 million in tax incentives over the next several years from the city of Austin, Travis...

  • COPENHAGEN, Denmark— Emergency crews pulled the wrecked fuselage of an Airbus EC-225 helicopter out of the sea Saturday off western Norway after a crash that killed all 13 people on board. As aviation experts looked for answers about Friday's crash, a somber-looking Prime Minister Erna Solberg, Norwegian Crown Prince Haakon and Crown Princess Mette-Marit...

  • LOS ANGELES— Virtual reality, oddly enough, isn't immune to the problems that arise in practical reality. Just ask would-be fans of the Oculus Rift headset, many— possibly most— of whom are still waiting for their $600 gadgets more than four weeks after they started shipping. Christian Cantrell, a software engineer and science-fiction author in Sterling, Virginia,...

  • Exxon Mobil posted its smallest quarterly profit in more than 16 years Friday, while Chevron lost $725 million, its worst showing since 2002, and raised the number of jobs it expects to cut this year from 7,000 to 8,000. Other oil companies are expected to report weak earnings in the next few days. Oil prices have tumbled from their 2014 highs of over $100 a barrel,...

  • Houston oilfield services company Baker Hughes Inc. said Friday 332 rigs sought oil and 87 explored for natural gas. Kansas, Louisiana, Texas and West Virginia were down two apiece. Alaska, Arkansas, California, North Dakota, Ohio, Pennsylvania, Utah and Wyoming were all unchanged.

  • Pennsylvania environmental regulators want to determine whether a series of minor earthquakes in the state this week were caused by nearby fracking operations by an oil and gas company. Five tiny temblors, all too weak to be felt by humans, took place in a 22- hour span in Lawrence County, about 50 miles north of Pittsburgh and three-quarters of a mile from a...