NEW YORK-- Shares of several oil refining companies fell Wednesday after Chevron Corp. said its third-quarter results will be substantially lower than its second-quarter earnings.
*Raymond James Raises HollyFrontier Corp target price to $44 from $42. *Raymond James Raises Valero Energy target price to $36 from $32. *Raymond James Raises Western Refining target price to $32 from $31 For a summary of rating and price target changes on U.S. companies:.
Goldman Sachs analysts are favoring four oil-patch stocks, giving them potential six-month price increases of as much as 95 percent. This comes at a time when oil prices, a great determinant of energy companies' earnings and share-price performances, have been highly volatile.
Oil prices continued to march higher Tuesday, nearing $100 per barrel. But Stephen Schork, editor of The Schork Report, told the “Fast Money” team the sharp gains make no reasonable or logical sense.
Two analysts told CNBC Thursday the best way to winterize a stock portfolio is to buy shares of coal or oil companies rather than buying the commodities directly.
Midwest refiners may be in the sweet spot for profits.
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Western Refining first started heating up late last year, and the activity returned ahead of a big conference today.
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Stocks closed lower, although considerably off the lows of the day, as investors assessed how the massive quake in Japan was likely to affect stocks and the global economy. GE and Verizon fell, while Caterpillar rose.
Stocks pared losses in the final hour of trading Monday as investors remained shaken in the aftermath of Japan's massive earthquake and tsunami. GE and Verizon fell, while Caterpillar rose.
Stocks slumped as investors assessed how the devastating earthquake and tsunami in Japan would affect U.S. companies and the global economy. GE sank, while Pfizer gained.
Various companies in the food chains of autos and semiconductors are also down. Polypore International, for example, which makes membranes for lead-acid and lithium batteries, is down 5 percent. As there were damage to many plants, a few semiconductor names outside Japan are trading up.
Both the Dow and S&P closed in positive territory on Wednesday, despite higher oil. Is the market turning bullish?
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If there's one question floating around the Street it's this. Is the market at an inflection point?
Again, the wild action in the oil landed in the spotlight with potential weakness in energy among the rally’s biggest threats.
See what's happening, who's talking and what will be making headlines on Friday's Squawk on the Street.