Tuesday, October 29, 2019

Notes From All Over, Part 1 -- October 29, 2019

Surges in value? Belgian Malinois
The breed is used as a working dog for tasks including detection of odors such as explosives, accelerants (for arson investigation), and narcotics; tracking humans for suspect apprehension in police work; and search and rescue missions. The U.S. Secret Service uses Belgian Malinois to guard the grounds of the White House.
Permit stats, the Permian vs North Dakota:

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The Market

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Free oil? Link here.
The U.S. has forfeited some $18 billion tied to oil and gas production in the Gulf of Mexico since 2000 because of a decades-old law that gave energy companies a break on paying royalties when drilling in deep waters, federal investigators concluded Thursday.
The foregone revenue will keep climbing, as energy companies continue to harvest oil and gas royalty-free from dozens of affected tracts in the Gulf, long after lawmakers realized sloppy legislative writing prevented the government from making the price breaks temporary.
Quiet: not much chatter over at twitter regarding oil. Lots of Saudi Arabia IPO talk but that's about it.

Internet: huge energy demand. If the article mentioned the high energy demand for bitcoin mining, I missed it.

Futures, Dow:
  •  down 36 points
    • momentum stock: INCY
  • companies reporting earning today: 258, of interest --
    • COP: 75 cents, before market open -- up 1.1% pre-market trading; report here:
      • earnings: $3.1 billion vs $1.9 billion same quarter last year
      • $2.74/share vs $1.59/share same quarter last year
      • adjusted earnings: 82 cents vs 75 cents forecast; $1.36/share adjust same quarter last year
      • repurchased $0.75 billion; paid $0.34 billion in dividends; a return of 41% to shareholders
      • 3Q19 production grew 7 percent overall (excludes Libya)
      • increased production from the Lower 48 Big 3 unconventionals by 21 percent y/y 
      • a reminder that COP recently raised its dividend significantly 
    • INCY: 65 cents 
    • Pfizer: 62 cents
    • GM: $1.31
    • AMD: after market close, 18 cents
    • Sprint: a loss of two cents
    • Kellogg: 91 cents
    • Yum China: 55 cents
    • Concho Resources: 69 cents
    • OKE: 74 cents after market close 
    • Nabors (NBR): a loss of 22 cents after market close
Other market news:
  • "everyone" expects the "Fed" to cut rates by 25 basis points
    • if this doesn't happen, Katie, bar the door
Later, 7:02 a.m.: whenever I see the Dow down, I immediately check Boeing :
  • BA: flat in pre-market trading; down about 67 cents/share
  • AAPL: flat; down about 0.17% (down 43 cents/share)
  • EPD: flat; down about 0.19% (down 5 cents/share) 
  • PCG: up almost 7% in pre-market trading; gains 26 cents on a $4.05/share stock
  • AMZN: back to where it was (in round numbers); all that talk about Jeff Bezos losing $8 billion -- what a bunch of crap

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