Micron: of course, everyone is following this -- Micron's quarterly earnings. Huge beat. MU is surging after hours.
Guidance is quite incredible. Across the board, Micron's actual numbers broke the "bull case" estimates. Right now, MU is up 10% after hours. And analysts on CNBC take it in stride, as if everyone knew this; despite the fact that MU was down for the day, only taking off after the market closed.
Market cap: $1.1 trillion. Price target is now up to $1,750 / share. Right now, trading at $1,145 / share, after hours. Later, well after the close, Micron is up almost 12% from the close, trading up another $122 / share, trading at $1,170.
Guidance: boom-and-bust cycle for three to five years has ended. It is impossible to put any of this in perspective. Everything with MU right now is parabolic (hyperparabolic?). Saudis et al have completely missed huge opportunities by not seriously dealing with Iran.
QCOM: surging after hours as it raises FY29 targets. This speaks volumes about the entire AI / tech sector right now. The last one, of all of these to watch, is ORCL.
GLW: as if we needed more good news, GLW surges after hours. Prior to close, SCCO slumped significantly. Have we finally moved from copper to fiber?
CAT: after a tough day yesterday, CAT did well today and looks like it will do well tomorrow.
The big question: why are these companies letting their shares trade over $1,000 and not splitting shares. Yes, I know. Slices.
Global warming: look at France. And Europe generally doesn't invest in much a/c.
During the historic June heat wave, temperatures in France peaked at a blistering 44.3°C (111.7°F) in the southwestern town of Pissos.
Widespread regional daytime highs frequently soared between 39°C and 43°C (102°F to 109°F) across much of western France.
The blistering heat also shattered national averages, with the country hitting its hottest nationwide day on record.
According to provisional data from Météo-France, the national thermal indicator—an average of day and nighttime temperatures across 30 stations—reached 29.8°C (85.6°F).
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Back to the Bakken
WTI: $70.34.
Active rigs: 28.
Three new permits, #43062 - #43064, inclusive:
- Operator: EOG Resources;
- Field: Clear Water (Mountrail County)
- Comments:
- EOG has permits for three Clearwater wells, NENE 31-157-90;
- to be sited 275 FNL and 411 /561 FEL.
Two producing wells (DUCs) reported as completed:
- 41578, 1,488, HBU Marmon Federal 24X-13H, Williams County;
- 41579, 2,000, HBU Marmon Federal 24X-13C, Williams County;
