A pretty slow day, so far. Only three companies announced increased dividends/distributions.
MRO Analyst Day:
Marathon Oil increases remaining share repurchase authorization to $2.5 bln; set to accelerate U.S. resource play activity and market North Sea assets: Co, at its Analyst Day in New York today, is providing investors with a comprehensive report on the co's global operations, including a review of strategic plans to achieve profitable growth and competitive returns for shareholders. The co's plans include:
- Accelerating Eagle Ford and Bakken rig activity 20% each; 100% rig activity increase planned for Oklahoma Woodford
- 28-rig program underpinned by 2.4 bln barrels of oil equivalent (boe) of 2P unconventional resource, doubled since 2011, and over 4,500 net well locations
- Greater than 60% of 2014 $5.9 bln capital, investment and exploration budget allocated to resource plays
- Projects 2014 resource play production growth rate greater than 30% relative to 2013; forecasts overall production growth rate of ~ 4%, excluding Alaska, Angola and Libya
- For the period 2012-2017, projects resource play production compound annual growth rate (CAGR) greater than 25%; forecasts total production CAGR of 5-7% for the same period
The Wall Street Journal
Wow, MasterCard announces a 10-for-1 stock split, announces a $3.5 billion buyback, and almost doubles its dividend. MasterCard is up almost $30 (4%) in pre-market trading.
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Other
The AP is reporting a 5-year high in job openings. Add this data point to the previous list of data points suggesting the economy is turning the corner, to coin a phrase.
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