Continental Resources Non-GAAP EPS of $2.88 misses by $0.09, revenue of $2.45B beats by $10M
Continental Resources Inc. (CLR) on Wednesday reported third-quarter...
Continental Resources Inc. (CLR) on Wednesday reported third-quarter earnings of $1.01 billion.
On a per-share basis, the Oklahoma City-based company said it had net income of $2.80. Earnings, adjusted for non-recurring costs, came to $2.88 per share.
The independent oil and gas company posted revenue of $2.45 billion in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $2.49 billion.
Dow ends 500 points lower, Nasdaq falls 3.4% after Fed raises rates, Powell signals terminal interest rate will be higher than expected
U.S. stock indexes finished a volatile session with losses on Wednesday after the Federal Reserve announced...
U.S. stock indexes finished a volatile session with losses on Wednesday after the Federal Reserve announced the fourth straight jumbo increase in its benchmark interest rate and hinted at a potential slowdown in its effort to tighten monetary policy to bring down inflation.
However, Powell said in his press conference that it is “very premature” to be thinking about pausing the rise in rates, and the ultimate target for increases in its policy rate may be higher than previously expected.
The Dow Jones Industrial Average DJIA, -1.55% was down 505.44 points, or 1.6%, to finish at 32,147.76.
The S&P 500 SPX, -2.50% lost 96.41 points, or 2.5%, ending at 3,759.69.
The Nasdaq Composite fell 366.05 points, or 3.4%, to finish at 10,524.80.
On Tuesday, the Dow Jones Industrial Average fell 80 points, or 0.24%, to 32653, the S&P 500 declined 16 points, or 0.41%, to 3856, and the Nasdaq Composite dropped 97 points, or 0.89%, to 10891. The Nasdaq Composite is up 5.5% from its 2022 closing low, but remains down 30.4% for the year to date.
Oil giant Saudi Aramco has $42.4B profit in third quarter
Oil giant Saudi Aramco on Tuesday reported a $42.4 billion profit...
Oil giant Saudi Aramco on Tuesday reported a $42.4 billion profit in the third quarter of this year, a 39% bump buoyed by the higher global energy prices that have filled the kingdom's coffers but helped fuel inflation worldwide.
The oil firm's profits will help fund the kingdom's assertive Crown Prince Mohammed bin Salman's plans for a futuristic city on the Red Sea coast, but also comes as the U.S. grows increasingly frustrated by higher prices at the pump chewing into American consumer's wallets.
Those tensions yet again have chilled relations between Riyadh and Washington before the Nov. 8 midterm elections. Aramco will keep its dividend this quarter at $18.8 billion, the world's highest.
The energy sector is off to a mixed-to-lower start, pressured...
The energy sector is off to a mixed-to-lower start, pressured by weakness in the crude complex as the major equity indices swing in and out of positive territory. U.S. stock index futures were mostly flat ahead of a widely expected super-sized rate hike from the Federal Reserve, with investors looking for signs the central bank could temper its aggressive stance on future interest rate increases.
WTI and Brent crude oil futures are down in early trading ahead of an expected rate hike by the Federal Reserve but found a floor as market participants eyed falling U.S. crude stockpiles and upcoming European sanctions on Russian barrels. U.S. crude oil stocks fell about 6.5 million barrels for the week ended Oct. 28. At the same time, gasoline inventories fell 2.6 million barrels, more than expected. China's zero-COVID policy has been a key factor in keeping a lid on oil prices as repeated lockdowns have slowed growth and pared oil demand in the world's second-largest economy.
Natural gas futures are trading higher on a drop in output at the start of the month and expectations gas demand will rise once the Freeport liquefied natural gas (LNG) export plant in Texas exits an outage.
Kremlin: Considering ‘Further Steps’ over Allegation Britain Attacked Nord Stream
Russia said on Nov. 1 that it was considering what “further steps”...
Russia said on Nov. 1 that it was considering what “further steps” to take in connection with its allegation that Britain was responsible for an attack on the Nord Stream undersea gas pipelines.
Russia’s defense ministry said on Oct. 29 that British navy personnel had blown up the Nord Stream pipelines in September, an assertion that London said was false and designed to distract from Russian military failures in Ukraine.
“There is evidence that Britain was involved in sabotage ... a terrorist act against vital energy infrastructure,” Kremlin spokesman Dmitry Peskov told reporters.
