The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
J.P. Morgan analyst Stephen Tusa is sticking to his guns when it comes to General Electric, despite getting "questions and pushback" from his skepticism of GE's announcement at the Paris Air Show last week.
Tusa said Monday most of his peers deemed the aviation conference to be a win for GE. The company's aviation unit booked a record number of orders, with GE Aviation CEO David Joyce telling CNBC it brought in a "conservative" $35 billion in new business. The unit is considered the company's crown jewel, largely because it is a profitable standout in comparison to the other struggling businesses in the GE conglomerate.
"While maybe not made clear enough through the smoke screen of the big order headlines and data points gleaned over 3 days," Tusa said the overall picture for GE "was on net more negative than even we were thinking when it comes to the Aviation debate."
The most bearish analyst on GE, Tusa gained a following for his early warnings that the company's stock was worth much less than others believed. His $5 price target is the lowest on Wall Street, predicting the stock will be more than cut in half from its current price.
"There is ample evidence to support a stand alone fair value for GE Aviation that is below even what we had been thinking before," Tusa said.
While Tusa cited his peers valuing GE Aviation at as much as $100 billion, he believes the unit is worth much less – $30 billion to $40 billion.
J.P. Morgan has an underweight rating on GE's stock. The company's shares were up fractionally on Monday and more than 44% this year.