NEW YORK, April 17, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including Freeport-McMoRan Inc. (NYSE: FCX), SeaDrill Limited (NYSE: SDRL), Chesapeake Energy Corporation (NYSE: CHK), Exxon Mobil Corporation (NYSE: XOM), and Cliffs Natural Resources Inc. (NYSE: CLF). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
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Today's update concerns the following companies:
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Full PDF Download Links (you may have to copy and paste the following links into your browser):
FCX Research Report: ( http://get.analystsreview.com/pdf/?c=Freeport-McMoRan&d=17-Apr-2015&s=FCX ),
SDRL Research Report: ( http://get.analystsreview.com/pdf/?c=SeaDrill%20Limited&d=17-Apr-2015&s=SDRL ),
CHK Research Report: ( http://get.analystsreview.com/pdf/?c=Chesapeake%20Energy%20Corporation&d=17-Apr-2015&s=CHK ),
XOM Research Report: ( http://get.analystsreview.com/pdf/?c=Exxon%20Mobil%20Corporation&d=17-Apr-2015&s=XOM ),
CLF Research Report: ( http://get.analystsreview.com/pdf/?c=Cliffs%20Natural%20Resources&d=17-Apr-2015&s=CLF ).
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Analyst Update: Recent Upgrades, Legal Settlements, and Macro Impacts
Reviewed by: Rohit Tuli, CFA®
US stocks ended marginally lower on Thursday, as worries about upcoming corporate earnings reports offset enthusiasm about a trio of soaring Wall Street debuts. The Dow Jones industrial average fell 6.84 points, or 0.04%, to end at 18,105.77; the S&P 500 lost 1.64 points, or 0.08%, to 2,104.99; and the Nasdaq Composite dropped 3.23 points, or 0.06%, to 5,007.79. European markets finished broadly lower on Thursday with growing concerns about Greece's debt situation prompting investors to take some profits after the previous session's 14-year highs. The DAX closed 1.94% lower, France's CAC 40 declined by 0.57% and London's FTSE 100 declined by 0.51%. The pan-European FTSEurofirst 300 index closed 0.9% lower at 1,635.76 points. Chinese shares rebounded on stimulus hopes a day after gloomy first-quarter economic numbers with the Shanghai composite index rising 2.1% to 4,168.85, while other Asian benchmarks were mixed.
Shares of Freeport-McMoRan Inc. were trading higher on Monday, April 13, 2015, after Citigroup upgraded shares to Buy from Neutral. Citi now has $23.00 price objective on the stock, up from the previous price objective of $19.00. Citi opined that Freeport share is down 22% year-to-date and the risks going forward are "positively skewed."
Shares of Seadrill rose 7.5% on April 14, 2015, as crude prices rallied on forecast of a monthly decline in U.S. shale oil output, according to Reuters. Earlier, the U.S. Energy Information Administration said that it expects U.S. shale production to fall by 45,000 barrels per day to 4.98 million bpd in May.
Reuters reported on April 14, 2015 that Chesapeake Energy Corp. has reached a settlement with some of the parties in a lawsuit alleging former Chesapeake CEO Aubrey McClendon of misappropriating highly sensitive trade secrets before leaving the Company in 2013 and using them to recruit investors and buy land leases for AEP (American Energy Partners).
Exxon Mobil shares rose on April 14, 2015 as oil prices rallied in trading on signs of a decline in U.S. crude output in an oversupplied global market, TheStreet reported. The rise in prices came after monthly data released showed that oil production in North Dakota slowed by 15,000 barrels per day in February versus the state's output in January.
Cliffs Natural Resources Inc. shares rose on Tuesday, April 14 as Brazilian iron ore exports rose to a three-month high. Brazil, which accounts for about 25% of the global market share of iron ore's trade volume, exported 30.8 million tons of iron ore in March 2015. This marked an increase of 6.3 million tons year-over-year and a 21.9% increase month-over-month.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
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