Started Off Slowly -- Then Ended With A Bang -- For Amazon -- April 27, 2023

Locator: 44486B.  

See California story below regarding diesel locomotives. The California board approved the measure. It now requires approval by US EPA. See story here.

Market Close

Amazon: link here.

After the close:

• AMZN: at the close, up 4.6%; up $4.84; trading at $109.82. After hours, after the release: up another 8.2%; up $9.02; trading at $119.00. [119-105/105 = 13% jump.]
  

• INTC: at the close, up 2.8%; up $0.81; trading at $29.86. After hours, after the release: down 1.5%; down $0.44; trading at $29.42.

• AMZN: link here.

• INTC: link here. One word investors don't like to see -- "staggering."

Link here.

***********************
Rambling

After the close:

• AMZN: link here.
• INTC: link here. One word investors don't like to see -- "staggering."

Market talk.

• I'm only watching two companies today: AAPL and PXD.
• A reader sent me a note regarding the city of Los Angeles voting on whether to impose strict new conditions on diesel locomotives (think UNP and BRK-BNSF).

Story here.

My not-ready-for-prime reply:

For an investor, another open book test.

"We" have a huge GE locomotive manufacturing site north of Ft Worth, located where the center of the population for DFW is projected to be in 2050.

Huge, huge news for GE, Ft Worth, if Los Angeles votes to impose restrictions.

BRK-BNSF and UNP will simply cycle new locomotive purchases with new guidelines in mind. I think it’s a non-story in the big scheme of things. 

On another note, PXD is certainly interesting. Biggest producer in the Permian. XOM ready to pounce?

*****************************
Musical Interlude 

Posting again: it's that good.

Updates

Later, 2:12 p.m. CT:

Later, 12:55 p.m. CT: for the archives. Link here.

Later, 12:51 p.m. CT: for the archives. Let's see if folks can connect the dots.

Later, 12:31 p.m. CT:

Original Post

Wow! Starting off to be a very boring day; something tells me that's not going to last. LOL. 

When things are this slow, I may have to introduce a new feature. 

CNBC: above the fold.

GM: raised guidance, but stock fell. 

I don't think young journalists get it -- for the big spenders -- those seniors getting social security for the first time and going out and buying a new GM luxury sedan -- "electric" is "woke." Not gonna sell.

Next time you are out and about, look who is driving a GM luxury sedan. Spoiler alert: it's not a soccer mom.

The real reason GM stock is not moving? There's no hurry. It will be years before we see 20% EV penetration. With GM stock, there's no MOJO, no FOMO, no YOLO. If one is going to spend $65,000 on an EV, one might as well look at what Porsche has to offer.

GDP:

• at 1.1% for 1Q23, it's way better than -2.5%! LOl.
• GDPNow had this exactly right -- two days ago, GDPNow: 1.1%.

INTC: reports today.

Spanish phrase of the day: pastel de bodas.What a great etymology.

• bodas: wedding
• casada: married

Brewer of the Day: Melvin Brewing, Alpine, WY.

• local: Sunspanked, Lazy Dog, Glade Parks, DFW, TX
• I was treated so nicely there (Lazy Dog) yesterday, I may go back today. Seriously, LOL.
• one wonders if marketing heavy hors d'oeuvres as part of "beer club" package makes more sense than upgrade from 16 oz to 22 oz? Just throwing that out there? Sort of like free popcorn, peanuts, one used to see at bars; now, not so much.
  

*******************************
Back to the Bakken

Active rigs: 42. 

Peter Zeihan newsletter.

WTI: $74.30.

Natural gas: $2.309.

Friday, April 28, 2023: 49 for the month; 49 for the quarter, 304 for the year
38524, conf, Oasis, Lindvig Beck Federal 5201 41-2 5B,
38524, conf, Oasis, Rynn Lee Federal 5201 41-2 6B,
38438, conf, Hess, EN-Farhart-156-93-0409H-8,

Thursday, April 27, 2023: 46 for the month; 46 for the quarter, 301 for the year
37291, conf, CLR, Irgens Rexall 9-19HSL1,
37290, conf, CLR, Irgens Rexall 8-19H,

RBN Energy: TC Energy's Gilllis accessto help shape Louisiana's LNG market, part 4.

The U.S. won’t add new LNG export capacity this year for the first time since it became an exporter in 2016. But that lull is not going to last long. At least five facilities are under construction and due for completion in the next few years, several other expansions were recently sanctioned, and there are more final investment decisions (FIDs) on the way. With export development expected to accelerate in the coming years, the race to debottleneck feedgas pipeline routes is on. More natural gas pipeline capacity will be needed, particularly for moving gas supply to the Louisiana coast, where the bulk of new liquefaction will be sited. In today’s RBN blog, we resume our series on the pipeline expansions targeting LNG export demand, this time highlighting TC Energy’s Gillis Access Project and how it fits into the Louisiana LNG market picture.