DEARBORN, Michigan, Sept. 24, 2019 – Ford Motor Company (NYSE:F) and Ford Motor Credit Company will release their 2019 third quarter financial results at 4:05 p.m. ET on Wednesday, October 23.
- 7:10 a.m. CT, today: F just turned green, up one penny; earnings not yet available; but Dow moves from negative 100 to negative 40; is the market excited about F?
- 6:50 a.m. CT, today: F down 5 cents in pre-market trading; earnings appear not to be out yet; overall market down in pre-market trading so five cents off for F not concerning;
First things first: Washington Nationals take first game, 5 - 4.
First things first: that lop-sided win Sunday night by the Dallas Cowboys over an important rival put a smile on Jerry Jones' face.
UNP: huge day for the shares yesterday. Transcript here. UNP up 2.2% yesterday; up $3.70, traded over $170/share in first time for quite some time. Remains well below its 52-week high of $180.
US market: the market is down in pre-market trading -- some say it is due to fact that CAT disappointed: revenue declined by 6% in 3Q19; slashed 4Q19 earnings guidance by 10%.
Awkward grammar: in another first, US now exports crude oil to more destinations than it imports from. Link here. This was a big, big story yesterday at some sites. Does number of destinations to/from really matter, or is it the overall number more important. I don't know. I suppose if one thinks about it for a moment, I guess it's a big deal. The bigger story is that US crude oil exports are smashing records as seen by the graphic at that link. Interestingly enough, US imports remain stubbornly flat -- yes, recently a significant drop -- but still quite choppy. I guess between 2009 and 2019, it appears US imports dropped from 9 million bopd to 7 million bopd; while over same period, exports increased from zero bopd to 2 million bopd. Well, imagine that.
737 MAX: Boeing fires Kevine McAllister, head of unit that makes the 737 MAX. Link here.
Cash crunch or just smart move? We mentioned this in passing yesterday -- Saudi Arabia sells $2.5 billion in bonds. First international debt sale since the attack in September, 2019. Orders peaked at $14 billion (huge demand). Usury laws?
Chevron/Permian/boom: CEO not worried about boom/bust cycle in the Permian -- looks for boom/boom cycle. Behind a paywall at the first link, but full story, no paywall, at Rigzone.
Chevron/Venezuela: granted 3-month waiver to continue operating in Venezuela. CVX up $1.19 yesterday but will be under pressure today with a) overall market down; b) another US crude oil build; and, c) WTI down a bit.
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China/natural gas shortage: tea leaves suggest China could be in store for a tough winter, natural gas shortages.
