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Today's Energy/Shipping Stories
News and Views | Macro/Technicals | Active Names | Earnings | Sector News, M&A, Capital Raises | Research Away | Cantor Research | Top Events/Earnings Calendar | Cantor Flows

News and Views

 U.S. crude futures fell below $75 on Tuesday, halting three days of gains, while inventories in the U.S. are expected to climb for a second straight week as a slowdown in economic recovery weighed on equities and energy markets. U.S. crude oil stockpiles rose for second straight time last week on higher imports. 

 

   U.S. natural gas futures ended with strong gains on Monday, backed by technical buying and short covering after the recent steep slide, rising tropical activity and hotter weather this week that should kick up demand.

 

   This week's macro releases are likely to confirm a trend of slowing growth in the U.S., and that's once again dragging sentiment down in the oil market.

 

 

Macro/Technicals

XLE: 51.34; -1.46
UTY: 410.48; -1.39
OIH: 98.77; -1.44
TAN: 7.16; -1.78
AMJ: 31.9; -.99
BIDY: 724; -.82
BDIY: 2712; +.33
SEA: 25.67; -1.57

Active Names

 

Oil & Gas:  BRS, COG, TE, FTK, FTO, MHR, NOA, RGNC, RIG, ROSE, VLO, WTI

 

Alt Energy:  CLNE    

                     

Utilities:   CNP, EE, EXC

 

Coal:   PCX   

Earnings

 ENER Energy Conversion reports Q4 EPS ($0.48) including items, unclear if comparable to Reuters ($0.60) ($3.98)
Company reports revenues of $86.2M vs Reuters $72.3M.

Sector News, M&A, Capital Raises

 

 

U.S. Power Acquisitions Surge as Blackstone, NRG Hunt Bargains - BBG

Acquisitions in the U.S. power industry surged more than 20-fold by value in the first eight months of the year. Advisers say expect more deals as buyers such as Blackstone Group LP bet electricity prices will rise with economic recovery.

 

CAM Cameron Loses Bid to Slow Retrieval of Spill Evidence – BBG:   Cameron International Corp. lost a bid to delay removal of the blowout preventer, a key piece of safety equipment linked to the BP oil spill, from the sunken Deepwater Horizon rig

 

GLBL Global Industries awarded $90M Project in Northeast Brazil ($4.62)
The project, worth approximately $90M, will be mainly performed by the DLB Iroquois, a pipelay and offshore construction vessel, with the support of a diving vessel. Engineering, procurement, and fabrication for the project will begin in Q4 2010, with execution of the project beginning in 2011.

Research Away

 

None    

Cantor Research

None      

 

Top Events/Earnings Calendar

 

PXMorgan Stanley Global Industrials Unplugged Conference

 

pre-mkt ENER earnings (confirmed)call at: 10:00, 31-Aug-10 877.858.2512 pw:95081245

Cantor Flows

Cantor Flows-Once again we saw selling in the drillers outnumber buying. Also hedgefund short-selling in the drillers. The long sellers seem to be pairing back their postions in the drillers, utility names and alternative energy names.

 

 

CNP, BRS, FTK, ROSE, RIG, FTO, CLNE, RGNC, NOA

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