CNBC Utilities Page Wires

  • April 24- U.S. electric pickup truck startup Rivian Automotive LLC said on Wednesday that Ford Motor Co invested $500 million in the company, which is seen as one of the major rivals to Tesla Inc.. Investors led by Amazon.com Inc put $700 million into Rivian in February. Ford and Rivian will jointly develop a battery electric vehicle using Rivian's platform,...

  • LONDON, April 24- Hedge funds are betting heavily on higher gasoline prices this summer, anticipating that refiners will struggle to produce enough gasoline to replenish depleted stocks while ramping up diesel output for the shipping industry. Funds' net bullish position in gasoline has more than doubled to 115 million barrels from 47 million at the end of...

  • April 24- Caterpillar Inc beat analysts' estimates for first-quarter profit on higher sales of its construction and mining equipment in its biggest market North America. Sales in North America rose 7 percent, driven by a 13 percent rise in sales of construction equipment. The company said it now expects 2019 profit of $12.06 per share to $13.06 per share,...

  • April 24- Boeing Co missed sharply-lowered Wall Street estimates for revenue and cashflow in the first quarter and suspended its 2019 outlook, as the world's largest planemaker continued to suffer from the grounding of its 737 MAX jets. First-quarter operating cash flow declined to $2.79 billion, from $3.14 billion, missing the Wall Street's average...

  • *GRAPHIC: Australia coal exports vs price: https://tmsnrt.rs/2DwssEf. LAUNCESTON, Australia, April 24- A change in South Korea's energy policy should have absolutely no bearing on the current Australian election campaign, but it should, as it's a stark warning to politicians who still see a rosy future for coal mines and exports. Australia is the world's largest...

  • April 24- AT&T Inc missed Wall Street estimates for quarterly revenue on Wednesday, hit by lower-than-expected sales in its WarnerMedia unit as well as its wireless business, where it has cut prices to attract customers. WarnerMedia, which includes Turner and premium TV channel HBO, reported revenue of $8.38 billion in the quarter, falling short of analysts'...

  • *Gold to find support at $1,264, resistance at $1,284. Spot gold was up 0.1 percent at $1,273.22 an ounce by 1146 GMT after hitting its lowest since the end of last year at $1,265.90 in the previous session. The dollar rally we saw on Tuesday did not continue today and that's why gold looks constructive this morning, "said ABN AMRO analyst Georgette Boele.

  • The company said it now expects 2019 profit of $12.06 per share to $13.06 per share, compared with $11.75 to $12.75 per share forecast earlier.

  • LONDON, April 24- World shares pared back losses on Wednesday as positive earnings in Europe from Credit Suisse and investor support for SAP helped soothe worries that China has put broader stimulus on hold. "The big picture is the tussle between Asia, which has pulled back, and America, where the markets made new highs, so Europe is probably going to be a bit torn...

  • April 24- Boeing Co reported a 21 percent fall in first-quarter profit on Wednesday and suspended its 2019 outlook as the world's largest planemaker worked to get its 737 MAX jets back in the air after two deadly accidents. The company said it would be issuing a new forecast in the future when it has more clarity around the issues surrounding the 737 MAX.

  • April 24- General Dynamics Corp on Wednesday posted a 7 percent fall in quarterly profit, hit by higher costs as the U.S. aerospace and defense company ramps up production of next-generation Gulfstream jets. Net earnings for the company fell to $745 million, or $2.56 per share, in the quarter ended March 31, from $799 million, or $2.65 per share, a year earlier.

  • *Cyprus gets 9 bln euros demand for 5- and 30- yr debt. LONDON, April 24- Cyprus's first 30- year bond sale was overloaded with orders on Wednesday, with high demand for such long maturities showing just how much Europe's bond market is adjusting to expectations of persistently low interest rates and central bank stimulus. The demand for 30- year debt from a country...

  • April 24- Domino's Pizza Inc missed Wall Street estimates for quarterly same-store sales growth in the United States on Wednesday, hurt by growing competition from food delivery startups and rival pizzerias. "We remain focused on improving international comps," Chief Executive Officer Ritch Allison said in a statement. Net income rose to $92.7 million, or...

  • OSLO, April 24- Norway was a net importer of electricity in the first quarter of 2019, reversing a trend of net exports seen in the last five years, as hydropower output fell and high prices attracted wind power supplies from neighbors, regulator NVE said on Wednesday. Sweden and Denmark generated 11.0 TWh, with Norway and Finland generating the rest.

  • April 24- Occidental Petroleum Corp:. *OCCIDENTAL PETROLEUM SAYS PROPOSES TO ACQUIRE ANADARKO FOR AN EQUITY PURCHASE PRICE OF $38 BILLION. *OCCIDENTAL PETROLEUM- IN FINANCING THE OFFER FOR ANADARKO, CO HAS ABOUT $10 BILLION- $15 BILLION OF PLANNED ASSET SALES IN NEXT 1224 MONTHS Source text for Eikon: Further company coverage:.

  • OCCIDENTAL PETROLEUM SAYS PROPOSES TO ACQUIRE ANADARKO FOR AN EQUITY PURCHASE PRICE OF $38 BLN.

  • April 24- Canadian yoga-pants specialists Lululemon Athletica Inc on Wednesday forecast annual revenue growth in the low teens for the next five years. Lululemon also plans to quadruple its revenue from international markets in the five years by focusing on expanding across China, the Asia Pacific and Europe, Middle East and Africa regions.

  • LONDON, April 24- British online fashion firm Boohoo reported a better-than-expected jump in profit on Wednesday, bucking a tough market for clothing retailers helped by its PrettyYoungThing and Nasty Gal brands. Shares in Boohoo, which recently hired John Lyttle from Primark to be its chief executive, rose 5 percent to a six-month high of 229 pence, valuing the...

  • Iran sanctions buoyed prices this week. LONDON, April 24- Oil prices slipped below six-month highs on Wednesday after signs that cushioned a rally based on fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran. U.S. crude stocks rose by 6.9 million barrels last week, more than expected, data from the industry group American...

  • A British security source said earlier on Wednesday that Britain would allow China's Huawei access to non-core parts of the 5 G network, but block it from all core parts of the system. Rob Joyce, a senior official from the U.S. National Security Agency, said the Five Eyes group- made up of the United States, Britain, Canada, New Zealand and Australia- would not use...