An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread more
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U.S. Secretary of Energy Rick Perry spoke to CNBC's "Squawk on the Street" on Monday following a series of drone attacks on Saudi Arabia's oil facilities caused the largest...Oilread more
Perry says it's too soon to say whether the U.S. will need to use its emergency crude reserves to offset the surge in oil prices.Oilread more
An extended Saudi oil outage could push Brent crude prices north of $75 per barrel, Goldman Sachs warned clients.Marketsread more
As investors worry about oil supply, airline and cruise ship stocks are getting hit, while some energy stocks are shooting upward.Marketsread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to analyst Ming-Chi Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Supreme Court Justice Kavanaugh from when he was a Yale University student, noting that "the...Politicsread more
Shares of First Solar plunged on Friday after the seller of solar power systems reported a surprise loss for the second quarter as revenues badly missed expectations.
The stock price fell by about $5 per share, or more than 9 percent, dropping below $49.
First Solar posted a loss of 46 cents a share for the quarter, compared with estimates for a profit of 2 cents in a Thomson Reuters survey of analysts.
Sales for the quarter totaled $308 million, well below Wall Street's expectation for sales of $503 million and less than half what First Solar drummed up in the year-ago period.
First Solar pinned the revenue whiff on lower-than-anticipated sales of its solar power systems and modules. Some of those sales have been pushed off to the second half of the year, the company said.
The company also narrowed its sales guidance for 2018. It now sees revenues of $2.5 billion to $2.6 billion, compared with an earlier forecast for $2.45 billion to $2.65 billion.
Analysts also pointed to a decline in First Solar's gross margin. Due to the cost of producing its new Series 6 solar module, the company knocked down its full-year estimate for gross margins to 20.5-21.5 percent from an earlier projection of 21.5-22.5 percent.
"The main culprit, however, was gross margin: at (2.6)%, it was – remarkably (and not in a good way) – the first quarter in negative territory since First Solar's IPO all the way back in 2006," Raymond James analyst Pavel Molchanov wrote in a research report.
"To be sure, it had been disclosed in April that Series 6 startup complications would weigh on the near-term picture – though not to this extent."