Coterra Energy topped Wall Street expectations Thursday with first-quarter results that further proved the Club holding’s nimble production strategy is the right one for shareholders. Revenue in the three months ended March 31 fell 19% year over year to $1.43 billion, beating the consensus forecast of $1.39 billion, according to analyst estimates compiled by LSEG. … Read more
Scott Sheffield, CEO of Pioneer Natural Resources. Adam Jeffery | CNBC The Federal Trade Commission on Thursday accused the former Pioneer Natural Resources CEO of colluding with OPEC to raise prices, and barred him from serving on the Exxon Mobil board of directors once its planned $65 billion acquisition of Pioneer closes. The FTC filed … Read more
Omar Marques | Lightrocket | Getty Images The CEO of Trump Media urged leading House committee chairmen to investigate eight financial firms over concerns of potentially illicit short selling of DJT, whose majority shareholder is former President Donald Trump. “I believe quick action is necessary to protect retail shareholders, identify wrongdoers, and determine whether any … Read more
My top 10 things to watch Thursday, May 2 The S & P 500 and Nasdaq are higher Thursday, one day after they surrendered their post-Federal Reserve meeting gains and closed modestly lower. After leaving interest rates unchanged, Fed chief Jerome Powell essentially ruled out a hike as central bankers’ next move. He said that … Read more
An oil pumpjack is pictured in the Permian basin, Loco Hills regions, New Mexico, U.S., April 6, 2023. Liz Hampton | Reuters U.S. crude oil edged higher on Thursday after selling off to a seven-week low on a surge in petroleum inventories on softening demand. Here are today’s energy prices: West Texas Intermediate June contract: $79.40 … Read more
The injectable weight-loss medication Wegovy is available at New City Halstead Pharmacy on April 24, 2024 in Chicago, Illinois. Scott Olson | Getty Images Novo Nordisk, which became the most valuable company in Europe last year due to the blockbuster success of its weight loss drugs, on Thursday beat first-quarter profit expectations as demand for … Read more
Hundreds of small and regional banks across the U.S. are feeling stressed. “You could see some banks either fail or at least, you know, dip below their minimum capital requirements,” Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Market check: Stocks surged Wednesday afternoon … Read more
A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters The Federal Trade Commission will wave through Exxon Mobil‘s roughly $60 billion acquisition of Pioneer Natural Resources after reaching an agreement with the energy giant, a source familiar with the matter told CNBC. The FTC will not block the deal now … Read more
WASHINGTON, D.C. – On a rooftop overlooking Gallaudet University in Washington, D.C., Julian Torres stands next to row after row of solar panels his company, Scale Microgrids, helped install as part of a larger system of renewable energy that has saved the college about $1 million per year in utility costs. Torres, the company’s chief … Read more
