Stocks end higher amid optimism on debt-ceiling talks
U.S. stocks finished higher on Thursday, with the Nasdaq Composite...
U.S. stocks finished higher on Thursday, with the Nasdaq Compositeclosing at its highest level since Aug. 25, according to FactSet as optimism over a potential debt-ceiling deal persisted. The S&P 500SPX gained 39.28 points, or 0.9%, to 4,198.05, according to preliminary closing numbers. The Dow Jones Industrial AverageDJIA rose by 115.14 points, or 0.3%, to 33,535.91. The Nasdaq CompositeCOMP advanced 188.27 points, or 1.5%, to close at 12,688.84. House Speaker Kevin McCarthy has said he’s optimistic about talks on a deal to raise the debt ceiling, according to media reports.
Hess Corp.’s board of directors declared a regular quarterly...
Hess Corp.’s board of directors declared a regular quarterly dividend of $0.4375 per share, the company said on May 17.
Hess will pay the dividend on June 30 to common stock shareholders of record at the close of business on June 15.
Hess is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas with major positions in the Williston Basin, Guyana, and other areas.
Index of U.S. leading economic indicators has fallen for 13 straight months
The U.S. leading economic index fell 0.6% in April and declined for the 13th month in a row, pointing...
The U.S. leading economic index fell 0.6% in April and declined for the 13th month in a row, pointing once again to a potential recession later in the year. Economists polled by the Wall Street Journal had forecast a 0.6% drop.
Evercore ISI: Onshore permitting activity slowed in April
Onshore oil and natural gas permitting issuance totaled 3,060 in April, down 31% from March, with notable...
Onshore oil and natural gas permitting issuance totaled 3,060 in April, down 31% from March, with notable declines recorded in natural gas-rich plays such as the Haynesville, Marcellus, and Barnett shales, where permitting activity dropped by 40%, 25%, and 30%, respectively, Evercore ISI reported. The Permian Basin, which remains the epicenter of permitting activity, experienced a 34% decrease while permitting fell by 52% in the Denver-Julesburg Basin and by 45% in the Eagle Ford Shale.
ProPetro Announces $100 Million Share Repurchase Program
ProPetro Holding Corp.’s board of directors approved a $100 million share repurchase program,...
ProPetro Holding Corp.’s board of directors approved a $100 million share repurchase program, announced on May 17 in a press release. ProPetro is a Midland, Texas-based oilfield services company.
Under the program, ProPetro may repurchase outstanding common stock until May 31, 2024. The $100 million authorization represents approximately 13% of the company’s market capitalization based on the current share price.
