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May 30, 2017
05/17
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folks over at morgan stanley are upgrading and downgrading valero nearlyl weight, down by 2%. there is a deal in the energy industry. the world's second-largest offshore rig contractor or market value buying that would oceanic -- buying atwood oceanic. we are talking about the value of 10.72 per share. one of the reasons this is an important deal is it is the largest we have seen since the oil market crash nearly three years ago, specifically offshore companies have been hit hard by the downturn in oil prices, so notable we have that big deal today. mark: we are down for a fourth consecutive day, the worst losing run since only march. digesting a dovish ecb president's, mario draghi, molding the prospects of the elections in italy, but we are down about .5 today. london and u.k. stocks, this is the ftse, the white line, blue line, germany, dax, purple line, the aramex at -- the xmi. despite the manchester bomb attack and despite the upcoming election, the ftse has outperformed its main peers. interesting comments today from jpmorgan, raising u.k. stocks from neutral to underwe
folks over at morgan stanley are upgrading and downgrading valero nearlyl weight, down by 2%. there is a deal in the energy industry. the world's second-largest offshore rig contractor or market value buying that would oceanic -- buying atwood oceanic. we are talking about the value of 10.72 per share. one of the reasons this is an important deal is it is the largest we have seen since the oil market crash nearly three years ago, specifically offshore companies have been hit hard by the...
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Oct 12, 2016
10/16
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jury valero is overseeing the financial nitty-gritty. ,van is the face of the company which is an important person to get in front of investors. imran khan's experience, he was responsible for leading the alibaba ipo, which has been a biggest technology public listing folks have cared about in the past decade. when it comes down to the actual ipo and ipo readiness, you have thereect he will be in and have opinions and guidance for the company as they marched through this process, which is very involved and some companies don't like to go there because they can see it as a distraction. to have that kind of person on the bench with a former mattel executive, it seems like they have some guidance to help evan spiegel as he runs this company as ceo. emily: i remember running into alibaba ipo.f the a great scoop. thank you for bringing us that update. later, we will chat with snapchat's first institutional investor. now to a stock we are watching -- samsung seeing its biggest three-day stock plunge. $23 billion have an wiped off its books. sa
jury valero is overseeing the financial nitty-gritty. ,van is the face of the company which is an important person to get in front of investors. imran khan's experience, he was responsible for leading the alibaba ipo, which has been a biggest technology public listing folks have cared about in the past decade. when it comes down to the actual ipo and ipo readiness, you have thereect he will be in and have opinions and guidance for the company as they marched through this process, which is very...
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May 27, 2015
05/15
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he already has outperformed on valero. a couple of reasons why. the fundamental industry -- industry for a metals favorable because the collapse in oil prices means costs go down. though there is some concern about their margins into the second quarter because oil prices have recovered wti is down from the same time last year. it is still differential. copies are taking a lot of action to support higher evaluation. they have increased dividends and buybacks and done what they can to support that. they're also reducing the debt. these fundamentals are working in their favor. erik: thank you, scarlet fu. stephanie: david einhorn are you watching? we will be back in a few talking shiny stock market. ♪ stephanie: the chinese stock market has been on a tear since the middle of last or but how long can the bull market run? recent speaking with the ceo of capital management specifically investing with china and japan. china has clearly been working. when does this end? >> valuations have increased immensely. trading in the high single digits of august
he already has outperformed on valero. a couple of reasons why. the fundamental industry -- industry for a metals favorable because the collapse in oil prices means costs go down. though there is some concern about their margins into the second quarter because oil prices have recovered wti is down from the same time last year. it is still differential. copies are taking a lot of action to support higher evaluation. they have increased dividends and buybacks and done what they can to support...
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Jul 25, 2019
07/19
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valero missing on second-quarter earnings. sincet plunging the worst 2007 as china is taking a bite into their business. q2 for four down 7%. down.tlook -- for ford , the worst day since january. ,acebook down, despite beating their sales growth is disappointing. after the bell, amazon and alphabet, it will be interesting to see what the rest of the faang trade does put up. david: we will come back to that trade with senator marsha blackburn of tennessee. up, the british government has a new direction. we talked to the british consul to new york anthony phillipson about what to expect. that is next. this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. i'm david westin. we turn to mark crumpton for first word news. mark: boris johnson is hitting the ground running, speaking to parliament for the first time since becoming prime minister. he urged the european union to rethink renegotiating a brexit deal and reiterated his onmitment to leaving the eu october 31. the eu rejected johnson's demand that t
valero missing on second-quarter earnings. sincet plunging the worst 2007 as china is taking a bite into their business. q2 for four down 7%. down.tlook -- for ford , the worst day since january. ,acebook down, despite beating their sales growth is disappointing. after the bell, amazon and alphabet, it will be interesting to see what the rest of the faang trade does put up. david: we will come back to that trade with senator marsha blackburn of tennessee. up, the british government has a new...
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Jul 26, 2016
07/16
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valero net income dropped. see ae are starting to lot more of these charts pointing out the underlying factors that are not so supportive. >> all that margin pressure. we've been talking about strength in existing and new home sales, very strong, but take a look at the price, a disappointment. the actual increase in the price u.s. cities rose less than expected for may, 5.2% -- 5.5% was expected. forome ways, this is good buyers and sellers, and what we are seeing is the pace of sales is keeping up. the big question remains whether inventories will be drawn down. you would expect drawdown and inventories to keep prices robust, but we are seeing some softening. hugely important. joe: let's turn back to today's market action. strategist at bank of america with insight and a preview of tomorrow's fomc meeting. markets close to all-time highs. the fed pose any risks to this rally continuing? market, 17ok at the times, it looks expensive on every single valuation metric. we think a lot of the good news is priced in.
valero net income dropped. see ae are starting to lot more of these charts pointing out the underlying factors that are not so supportive. >> all that margin pressure. we've been talking about strength in existing and new home sales, very strong, but take a look at the price, a disappointment. the actual increase in the price u.s. cities rose less than expected for may, 5.2% -- 5.5% was expected. forome ways, this is good buyers and sellers, and what we are seeing is the pace of sales is...
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Dec 7, 2015
12/15
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the best performing was valero which is still down. joe: i'm pretty impressed, the overall market did not sell all. you would think on a date before dumping everything in sight, we wouldodities, expect to see a major liquidation, but less than 1% down on the major indices, that is pretty impressive orman. alix: energy shaved about 20% off the index. but whatlot of damage, i thought was fascinating, look at the currency market. the energy spillover was not just in stocks, it was also in other asset classes. the canadian dollar dropping to the lowest level in 11 years. the colombian peso plunging to a record also. commodity currency is just having a rough time. the norwegian currency fell below parity against the swedish currency for the first time. alix: oil is the story of the day. let's dive into the bloomberg terminal to look at why. versus the oil price over the last figures. something i struggle with, we should not be following this much. there is no trigger. the white line is the nymex short oil contract, right around her record h
the best performing was valero which is still down. joe: i'm pretty impressed, the overall market did not sell all. you would think on a date before dumping everything in sight, we wouldodities, expect to see a major liquidation, but less than 1% down on the major indices, that is pretty impressive orman. alix: energy shaved about 20% off the index. but whatlot of damage, i thought was fascinating, look at the currency market. the energy spillover was not just in stocks, it was also in other...
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Jan 29, 2015
01/15
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we should mention bolero -- bolero, --valero. profits from sales and gas have tripled because of the drop in oil. >> will be back in two minutes. -- we will be back in two minutes. ♪ >> if you're always wanted to invest in a new york city property, now's your chance. for $5,000, anyone can own a piece -- almost anyone can own a piece of three world trade center. it is being offered through the company fund rise which sells world-class properties to accredited investors. his new way to own property has received backlash, especially among big banks. joining us to discuss this is dan miller, cofounder and president of fund rise. this peak my interest because this is an iconic new york city skyscraper that is being built. there is been so much controversy around the world trade center. why help fund it this way? >> we wanted to give people the chance to invest in the highest quality assets in the world. deals like this are traditionally limited to people with $100 million of network -- net worth. >> what does it entail? tell me how
we should mention bolero -- bolero, --valero. profits from sales and gas have tripled because of the drop in oil. >> will be back in two minutes. -- we will be back in two minutes. ♪ >> if you're always wanted to invest in a new york city property, now's your chance. for $5,000, anyone can own a piece -- almost anyone can own a piece of three world trade center. it is being offered through the company fund rise which sells world-class properties to accredited investors. his new...
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Mar 13, 2014
03/14
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. >> i was stunned to find out that vale arrow -- that valero was one of your competitors and had a loss of $47 million. what do you do differently? >> in 2012, we were at a peak margin -- at the end of 2011, we were in a peak margin environment. theaw it all the way out to curve in 2012. we went out all for 2012 and locked margins away. it just happened to be the year of the drought. when corn prices rose a lot higher, we were locked in already. we were able to be profitable in the last half. >> where do you come from? what was your trajectory? >> i spent 27 years trading products domestically and globally. and i am really a student of the markets. we manage risk. that is my upbringing. we have quantitative analysts on our trading floor. was builtl industry off the engine annuity of the american farmer, but they didn't understand how to manage risk on a big, -- on the ingenuity of the american farmer, but they didn't understand how to manage risk on a big, global scale. my background suited this very well. >> trader, oil guy. you see business being liked. we have the epa flirting with t
. >> i was stunned to find out that vale arrow -- that valero was one of your competitors and had a loss of $47 million. what do you do differently? >> in 2012, we were at a peak margin -- at the end of 2011, we were in a peak margin environment. theaw it all the way out to curve in 2012. we went out all for 2012 and locked margins away. it just happened to be the year of the drought. when corn prices rose a lot higher, we were locked in already. we were able to be profitable in the...
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May 14, 2019
05/19
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eog resources rising after outperforming in the first quarter and valero energy gaining an upgrade from jpmorgan. i also mentioned tech doing much better. microsoft and apple leading the way. apple was the biggest laggard on the s&p 500 yesterday. it is now the second-best performer on the s&p 500. also let's look at chips because they were struggling yesterday. this was the philadelphia semiconductor index up 2.2%. also advanced micro devices rising close to 3%. let's take a look at bitcoin. not something we've talked about for a while, rising for the 12th straight day. this is year to date, up 113% since the beginning of the year, trading above 8000. doing pretty well. that 12 day winning streak the longest since 2017. david: what a difference a day makes. thank you so much for all of that green. sticking with the trade war, is tit with chinar about economics or security? that is coming up and this is bloomberg. ♪ david: this is balance of power on bloomberg television. we turn to mark crumpton for bloomberg first word news. mark: at least four people are dead after midair collision
eog resources rising after outperforming in the first quarter and valero energy gaining an upgrade from jpmorgan. i also mentioned tech doing much better. microsoft and apple leading the way. apple was the biggest laggard on the s&p 500 yesterday. it is now the second-best performer on the s&p 500. also let's look at chips because they were struggling yesterday. this was the philadelphia semiconductor index up 2.2%. also advanced micro devices rising close to 3%. let's take a look at...
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Sep 25, 2018
09/18
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valero energy up on the day. these stocks have been trailing broader gains because of higher oil prices may weaken demand. the hundred dollar oil says investors think that may be good for these stocks. down movers, and apple supplier missed on margins in the first quarter. until 2021.not rise other apple suppliers down on the day. he sees a cyclical downturn in that sector. scarlet: thank you for that run down. the you win this year, defending his exit from the iran nuclear deal, calling on the rest of the world to isolate iran. >> they do not respect their neighbors or borders, or the sovereign rights of nations. instead iran's leaders plunder the nation's resources to enrich themselves and to spread mayhem across the middle east and far beyond. the reaction from the iran delegation. ago.was two hours we have had a lot of news. the announcement this is going to be a new , we have had these about kavanaugh's accuser. these iran comments take a back step. once when you have the reserve tone of the speech and all t
valero energy up on the day. these stocks have been trailing broader gains because of higher oil prices may weaken demand. the hundred dollar oil says investors think that may be good for these stocks. down movers, and apple supplier missed on margins in the first quarter. until 2021.not rise other apple suppliers down on the day. he sees a cyclical downturn in that sector. scarlet: thank you for that run down. the you win this year, defending his exit from the iran nuclear deal, calling on the...
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Nov 1, 2016
11/16
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forare seeing a big boost valero, phillips 66 because there will be more demand for product. have you ship it, transported on rail or by truck? there will be a product shortage in the u.s. southeast. earnings a big focus in the equity market. in terms of where we are in the earnings season, i want to take a look at where companies are beating on sales and on earnings . the average sales surprises minimal, up by not even 1/10 of 1%, but the average earnings surprise is much higher coming in at almost 5%. we got pfizer reporting earlier. the s&p pharma companies, about 13 out of 25 have reported and it shows a lot of growth but they are missing other estimates. earnings are about 12% year on year and sales growth up about 4%. david: there a bit of breaking news from general motors. 1.7%.auto sales fell the estimates were that they would be down 6.9% and this is part of a larger trend. the thought is that u.s. auto sales are peaking and coming down some, but they are coming down a little less than we thought. they beat their estimates on a decline in sales. now we want to turn t
forare seeing a big boost valero, phillips 66 because there will be more demand for product. have you ship it, transported on rail or by truck? there will be a product shortage in the u.s. southeast. earnings a big focus in the equity market. in terms of where we are in the earnings season, i want to take a look at where companies are beating on sales and on earnings . the average sales surprises minimal, up by not even 1/10 of 1%, but the average earnings surprise is much higher coming in at...
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Aug 13, 2017
08/17
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what have these companies been doing, valero, and major u.s. refiners, to hedge or have they? >> they've been taking less and less venezuelan crude. to a certain extent, they have no choice. venezuelan production has been dropping. there are other adult -- other alternatives, from canada or other places, that could work for these refineries so they have been moving. venezuela is still a big supplier. they've also been lobbying in washington to say, sanctions may not be the best answer. venezuela would still be able to sell crude in other parts of the world and you would have this effect in the u.s. -- they are pressuring you trump administration to be cautious about its next steps. oliver: up next why president trump is looking quite unprepared to deal with special counsel robert mueller. this is bloomberg businessweek. ♪ ♪ oliver: welcome back to bloomberg businessweek. i'm oliver renick. you can catch us on the radio at sirius xm radio. and london, and asia. in the politics section, as president trump fails to put together a legal team, we talk more. >> right now their l
what have these companies been doing, valero, and major u.s. refiners, to hedge or have they? >> they've been taking less and less venezuelan crude. to a certain extent, they have no choice. venezuelan production has been dropping. there are other adult -- other alternatives, from canada or other places, that could work for these refineries so they have been moving. venezuela is still a big supplier. they've also been lobbying in washington to say, sanctions may not be the best answer....
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Aug 31, 2017
08/17
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. -- valero and hollyfrontier. mark: investors choosing to invest on the macro, whether u.s. data, euro zone inflation data, and chinese take -- chinese pmi data. best friend for two weeks. -- trend for two weeks. a big corporate story, shares earlier down 15%, the biggest drop on record. for the french biggest retailer. it warned a second half of the year will be as tough as the first was gives the new chief executive a bigger challenge to turn around the company. the outlook prompted for analysts to reduce recommendations. -- four analysts to reduce recommendations. a drop in earnings was a bit of a surprise because they previously said second-quarter sales beat estimates. volumes in food failing to offset the effects of a price war and the operating margin in france, which accounts for nearly half of sales. it fell 70 basis points, down 14%. inflation in the eurozone taking up speed, more than economists predicted, underlying cost pressures, failing to accelerate. ,he headline is consumer prices up 1.5% in august from 1.3% in july, ahead of estimates. the biggest -- best r
. -- valero and hollyfrontier. mark: investors choosing to invest on the macro, whether u.s. data, euro zone inflation data, and chinese take -- chinese pmi data. best friend for two weeks. -- trend for two weeks. a big corporate story, shares earlier down 15%, the biggest drop on record. for the french biggest retailer. it warned a second half of the year will be as tough as the first was gives the new chief executive a bigger challenge to turn around the company. the outlook prompted for...
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Apr 2, 2020
04/20
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that includes majors like exxon, higher by 3%, but also services companies like schlumberger, valero. it is really the e&p's outperforming. some rx is up by about nine rx -- cimarex is up by about 9% today. these are leading the s&p. vonnie: kailey leinz, thank you for that. it is time for your latest bloomberg business flash, a look at some of the biggest business stories in the news right now. boeing will offer voluntary buyouts to its entire staff. it is a bid to adapt to coronavirus crisis that could depress the aircraft market for years. in a note to employees, boeing's ceo david calhoun says it is important the company start adjusting to its new reality. southwest will become the second u.s. airline to apply for federal aid. in a filing today, southwest says it is looking for possible grants that could boost liquidity and provide job security for its employees. merrick and airlines is already said -- american airlines has already said it will have to up billion in aid. jamie dimon back to work today after heart surgery. , he is, like so many working remotely today. he underwent
that includes majors like exxon, higher by 3%, but also services companies like schlumberger, valero. it is really the e&p's outperforming. some rx is up by about nine rx -- cimarex is up by about 9% today. these are leading the s&p. vonnie: kailey leinz, thank you for that. it is time for your latest bloomberg business flash, a look at some of the biggest business stories in the news right now. boeing will offer voluntary buyouts to its entire staff. it is a bid to adapt to coronavirus...
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Jun 17, 2015
06/15
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we are seeing companies like valero on the rise. one of the implications of the drawdown in oil is that there is relatively high demand and refineries are pumping like provide summer feel. changes, not unusual on a fed day. i thought for fun, we could look of the past couple of days when we had a fed meeting. take a look at my bloomberg wasinal there and this april 29, the fed. 18 point swing before we closed lower by about 4/10 of 1%. revised numbers for first-quarter gdp which showed not a very half picture for the economy in the first quarter. that also weighed on stocks. olivia: so many people holding their firepower, i would be interested in seeing what volume is. it is the q and a. julie: 2:30 p.m. olivia: now i want to turn to asia. the nikkei -- one big story as of the region, japan reporting this writing --de data across asia disappointing trade data across asia. , singapore, both reporting figures, both missing estimates. singapore reported a drop in shipment. japan is out of the bright spot. if you get china, india, taiwa
we are seeing companies like valero on the rise. one of the implications of the drawdown in oil is that there is relatively high demand and refineries are pumping like provide summer feel. changes, not unusual on a fed day. i thought for fun, we could look of the past couple of days when we had a fed meeting. take a look at my bloomberg wasinal there and this april 29, the fed. 18 point swing before we closed lower by about 4/10 of 1%. revised numbers for first-quarter gdp which showed not a...
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Dec 26, 2018
12/18
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valero energy down 22%. williams down 31%. some of the biggest competitors like chevron still doing better. 16% on the year. conoco up about 19% on the year. now time for the headlines. let's get to the bloomberg first word news. here's what's happening. kristen nielsen will be traveling to the u.s. border with mexico to personally review her departments care of migrant children. this comes after a quite a volatile boy died on christmas eve in the custody of u.s. customs and border protection with his father. the 8-year-old was the second young migrant to die in agency custody this month. homeland security officials telling reporters it had been more than a decade of the child has died and border patrol custody. -- etnant athlon volcano triggering an earthquake that has injured 10 people. villagers forced to flee their homes as the ongoing corruption created a 4.8 magnitude quake. etna has also opened a crack's on a local highway which was closed for inspection. russian military today criticizing an israeli airstrike near the
valero energy down 22%. williams down 31%. some of the biggest competitors like chevron still doing better. 16% on the year. conoco up about 19% on the year. now time for the headlines. let's get to the bloomberg first word news. here's what's happening. kristen nielsen will be traveling to the u.s. border with mexico to personally review her departments care of migrant children. this comes after a quite a volatile boy died on christmas eve in the custody of u.s. customs and border protection...
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Aug 31, 2017
08/17
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the refiners in the houston area in valero who are waiting for crude oil supplies are going to start getting them. vonnie: some of the more independent producers, are they going to feel it a lot more, put out of business by this? >> destinations are being cut off because there are not enough supplies to go around, and i would imagine that the brand and suppliers -- branded supplies are on allocation come meaning they cannot get the full contractual volume, because it is not there. lisa: i was the president of li -- that was the president of lipow associates on bloomberg today. he is tried to get back houston and cannot get a flight could let's get "first word" news with mark crumpton. mark: the house of representatives will most likely vote on the first phase of relief money for hurricane harvey in september. that is according to a republican aide, he that the initial down payment will replenish federal emergency management agency funds used in the immediate aftermath of the storm. congress returns on september 5. the third round of brexit negotiations ended in a stalemate today, wit
the refiners in the houston area in valero who are waiting for crude oil supplies are going to start getting them. vonnie: some of the more independent producers, are they going to feel it a lot more, put out of business by this? >> destinations are being cut off because there are not enough supplies to go around, and i would imagine that the brand and suppliers -- branded supplies are on allocation come meaning they cannot get the full contractual volume, because it is not there. lisa: i...
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Nov 8, 2019
11/19
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look at the biggest movers in that sector, exxonmobil and marathon down the better part of 3%, and valero and conocophillips down by about 1.5%. vonnie: thank you for that. remember the function gtv on the bloomberg allows you to browse all of the charts featured on bloomberg tv. analysiswith key and savior have her it's for future reference -- and save your favorites for future reference. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is the european close on "bloomberg markets." let's check in on the bloomberg first word news. here's courtney donohoe. courtney: there may be a pitch in negotiations for an interim trade deal between the u.s. and china. donald trump says the u.s. hasn't agreed to a rollback on tariffs with china. in fact, he said he hadn't agreed to anything. president trump won't impose tariffs on european cars next week as threatened, according to european commission president jump on juncker. -- president jean-claude juncker. eu has threatened to impose its own tariffs on american goods if president
look at the biggest movers in that sector, exxonmobil and marathon down the better part of 3%, and valero and conocophillips down by about 1.5%. vonnie: thank you for that. remember the function gtv on the bloomberg allows you to browse all of the charts featured on bloomberg tv. analysiswith key and savior have her it's for future reference -- and save your favorites for future reference. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy...
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Feb 2, 2019
02/19
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alix: one of the biggest buyers is valero. they have their earnings. where are they able to get it, is there a shortage? >> they bought some canadian crude in the market. people in the market have said they have been running more canadian crude in the gulf coast refineries. they have had plans in place to adjust their supply to deal with sanctions. alix: thank you to david marino. we want to move on to london, where energy aspects cofounder richard allison joins me. the impact isn't on overall prices but spreads. that puts pressure on u.s. refineries. if you look at the mars blend versus the louisiana light sweet crude, the heavy crude in the u.s., you are seeing tightness there, not in the overall price. richard: exactly right. the markets are not too concerned about supply anyway. we have a lot of u.s. production growth despite opec cuts. it is really about the type of crude available. shale, other light, sweet crudes are good for some things, particularly good for gasoline but not good for diesel. not optimal if you are a complex refinery. if they a
alix: one of the biggest buyers is valero. they have their earnings. where are they able to get it, is there a shortage? >> they bought some canadian crude in the market. people in the market have said they have been running more canadian crude in the gulf coast refineries. they have had plans in place to adjust their supply to deal with sanctions. alix: thank you to david marino. we want to move on to london, where energy aspects cofounder richard allison joins me. the impact isn't on...
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Jul 15, 2014
07/14
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>> i think there is a great opportunity in valero. the disappointed last night. they issued a warning. that means that stuff in the summer is a little bit soft. that gives investors i think it opportunity as things get tight and oil comes down the old coast and the discounts get wider -- >> are you optimistic on refineries that use cell axon, you underweight the big oil's and go right into the downstream -- that you undersell exxon and you underweight the big oils and go right to the downstream? >> is a lot of the natural gas stocks a few years ago. >> chris grisanti on the downstream of oil. .errific earnings day today we will focus on the banking earnings of jpmorgan just out, and again goldman sachs at 7:30 this morning. william cohen will join us. mergers and acquisitions. did you own tobacco stocks, chris grisanti? >> we did not. >> that will be a debate here. chris grisanti here with us from grace on the capital markets -- from grisanti capital markets. this is "bloomberg surveillance." ♪ >> good morning, everyone. "bloomberg surveillance." incredibly bus
>> i think there is a great opportunity in valero. the disappointed last night. they issued a warning. that means that stuff in the summer is a little bit soft. that gives investors i think it opportunity as things get tight and oil comes down the old coast and the discounts get wider -- >> are you optimistic on refineries that use cell axon, you underweight the big oil's and go right into the downstream -- that you undersell exxon and you underweight the big oils and go right to...
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Nov 24, 2015
11/15
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are still ind you them, you have valero, a patchy. state oil. bp. let me ask you about valero. refining going to remain the best place to be in the interim? been a goodg has place to be. frankly, i wish we had more in the second or are -- in the sector. we hold many of the large integraters. erik: good to see you. tim guinness, chief investment officer of guinness atkinson asset management. the age-old debate. our bankers being paid too much? deutsche bank's co-ceo says they are. turning investors are to roble advising. betterment ceo of will be with us. and we have the latest on turkey's downing of a russian and why vladimir putin says there will be "serious consequences." ♪ erik: welcome back. this is "bloomberg markets." to europe where european stocks are declining amid concerns over global growth. >> it is a classic white. across europe. only greece trading higher. 18 out of 19 industry groups falling on the stoxx 600. it is only oil being dragged up then increase look at decline is, particularly on the ftse 100. the travel, the laser -- the leisure companies suffering.
are still ind you them, you have valero, a patchy. state oil. bp. let me ask you about valero. refining going to remain the best place to be in the interim? been a goodg has place to be. frankly, i wish we had more in the second or are -- in the sector. we hold many of the large integraters. erik: good to see you. tim guinness, chief investment officer of guinness atkinson asset management. the age-old debate. our bankers being paid too much? deutsche bank's co-ceo says they are. turning...
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Jan 11, 2016
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valero. finally called -- it is only worth 35 billion dollars. experience -- the decline in oil prices have made that not so happy investments for many. guy: elliott, great stuff. thank you very much indeed. next, the bank of england in focus as it decides on rates at this moment. we will talk about central banks up next. i want to show you is happening with european stocks. european equities are on the forefront this morning. the ftse 100 is up by .2%. the dax, a real leg up this morning. off --strutting shrugging off what happened in asia. we will reap be back in a moment. ♪ guy: welcome back. you are watching "on the move." what is happening with volkswagen. he is going to be talking to the regulators out there. its stock is on a tear this morning. up by nearly 5%. 4.7%. launching on some of these backs of some of these automakers. completely ignoring what happened overnight out in asia. the asian chinese market -- the chinese market that pummeled. details need to know about later today. president dennis lockhart gives his view on the u.s. e
valero. finally called -- it is only worth 35 billion dollars. experience -- the decline in oil prices have made that not so happy investments for many. guy: elliott, great stuff. thank you very much indeed. next, the bank of england in focus as it decides on rates at this moment. we will talk about central banks up next. i want to show you is happening with european stocks. european equities are on the forefront this morning. the ftse 100 is up by .2%. the dax, a real leg up this morning. off...
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Jun 4, 2018
06/18
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they are up four point 7% for the month and a lot of that is the actual gasoline retailers like valero capturing this gap and taking more profit for themselves and that will weigh on consumers wallets as they start the summer driving season. this is an important chart to watch. vonnie: thank you for that illustration of what is happening at the pumps. mark, what have you got? ago the big fear was if there was an italian election it will be a de facto referendum on eurozone membership. that did not play out. we have a populist led government but it let me to believe that that question is still present and some analysts posit the question, at what point will the true colors of the populists come to the fore, their true anti-euro colors. that is something to look ahead to. in the meantime, it is worth posing the question what is the probability of a breakup of the eurozone in the next 12 months? .e have a chart for that this is what i love about life. you have a chart for everything. this is the euro breakup index which essentially surveys individual and institutional clients and right no
they are up four point 7% for the month and a lot of that is the actual gasoline retailers like valero capturing this gap and taking more profit for themselves and that will weigh on consumers wallets as they start the summer driving season. this is an important chart to watch. vonnie: thank you for that illustration of what is happening at the pumps. mark, what have you got? ago the big fear was if there was an italian election it will be a de facto referendum on eurozone membership. that did...
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Apr 30, 2018
04/18
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is valero shaking in its boots? david: that is the question. do you see the o or philip's -- need tor philip say we pick up a competitor? the question could be antitrust. or they don't command too much of a market share and raise questions too much, that is always a question for these refiners. can they pick up one of their competitors without running into too much hassle, too much difficulty. vonnie: david marino, thank you. the u.s. oil reporting team leader in new york. caroline? caroline: time for the business flash may look at the business stories in the news now. a new deal would create the largest luxury brand for timeshare vacation. ,arriott will buy ilg representing a premium to ilg is closing price on friday. shares of the fitbit have been rising. the company has agreed to use google's cloud services to integrate its wearable devices into the health care system to allow data to be economy but combined with electronic medical records. allow data to be combined with electronic medical records. vonnie: telecom takeover. we sit down with
is valero shaking in its boots? david: that is the question. do you see the o or philip's -- need tor philip say we pick up a competitor? the question could be antitrust. or they don't command too much of a market share and raise questions too much, that is always a question for these refiners. can they pick up one of their competitors without running into too much hassle, too much difficulty. vonnie: david marino, thank you. the u.s. oil reporting team leader in new york. caroline? caroline:...
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Apr 8, 2020
04/20
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valero and phillips 66 have already lower their lights -- rates. an industry expert points out you do not just turn down -- turn off a switch to shut down these refineries. it is complicated. so they are waiting until they need to shut down to do that, so capacity continues to come down. it's interesting as we see the g20 nations meet, we know some additional oil producers may roll in with production cuts. and also for the first time, a u.s. president, president trump, is being pushed to push for higher oil prices more in line with saudi arabia because this will mean stability for oil markets. youi: all right su, thank so much for that with the latest on oil going into the opec-plus meeting. plenty more to come. this is bloomberg. ♪ global cases of the coronavirus infection have topped 1.5 million just one week after passing the one million mark. new york, the u.k., and belgium reported the deadliest day so far. cases are rising again and governments continue to hammer out support programs. the world health organization continues to caution again
valero and phillips 66 have already lower their lights -- rates. an industry expert points out you do not just turn down -- turn off a switch to shut down these refineries. it is complicated. so they are waiting until they need to shut down to do that, so capacity continues to come down. it's interesting as we see the g20 nations meet, we know some additional oil producers may roll in with production cuts. and also for the first time, a u.s. president, president trump, is being pushed to push...
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Jan 31, 2017
01/17
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valero coming up with earnings that beat estimates but it had weaker than estimated margins. shares of harley davidson are also down. earnings missing estimates and motorcycle shipments are below estimates as well. so macro and micro, a lot to cover. mark: we have been in the narrow trading range, up i one third of 1%. theld trump's firing of acting attorney general went into more instability. that the gauget is up in january, the best run since may 2016. we keep an eye on deutsche bank, shares were higher earlier. it has been fined 163 million pounds for compliance failures related to allegations it helped wealthy russians move billions of dollars out of the country. this is after a similar probe in new york with a criminal investigation by the u.s. justice department that is still ongoing. deutschea week after bank agreed to a civil penalty to resolve the u.s. its investigation -- the u.s. investigation. growth, 4.5% in the fourth quarter. unemployment falling to 9.6% in december. the lowest level since mid-2009. attention turns to accelerating inflation. mario draghi repea
valero coming up with earnings that beat estimates but it had weaker than estimated margins. shares of harley davidson are also down. earnings missing estimates and motorcycle shipments are below estimates as well. so macro and micro, a lot to cover. mark: we have been in the narrow trading range, up i one third of 1%. theld trump's firing of acting attorney general went into more instability. that the gauget is up in january, the best run since may 2016. we keep an eye on deutsche bank, shares...
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Jan 11, 2016
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valero listed in the u.s. anywhere at $35 billion. there was a noble -- another spinoff of a refiner. slice rushed to get a of the saudi oil industry, but that has not been a happy investment. francine: thank you so much. as priceshe bets go tend to follow? have we called a bottom on oil? elliott: it looks like hedge funds have been pretty spot on when it comes to their bullish bets on oil prices. that has contributed to the slide we have seen seemingly inexorably toward $30 a barrel. it ended january 5, and bullish bets were down by a quarter. the top line is in yellow, shows you wti, and the bottom line shoes you bullish bets on oil. you can see pretty much where the bets go, there is a little bit of a lag and then oil prices follow. you can see that precipitous decline in bullish bets on oil prices, and oil prices have followed suit. hedge funds seem to have got this one pretty much spot on. francine: thank you so much, the middle east editor elliot gotkine. over the weekend it said it fully supports any action against shiite major
valero listed in the u.s. anywhere at $35 billion. there was a noble -- another spinoff of a refiner. slice rushed to get a of the saudi oil industry, but that has not been a happy investment. francine: thank you so much. as priceshe bets go tend to follow? have we called a bottom on oil? elliott: it looks like hedge funds have been pretty spot on when it comes to their bullish bets on oil prices. that has contributed to the slide we have seen seemingly inexorably toward $30 a barrel. it ended...
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Aug 3, 2017
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biofuels program sought by valero energy and backed by billionaire refinery owner carl icahn. that is according to people familiar with the decision. have lobbiedahn the to shift responsibility for fulfilling annual biofuel quotas away from her fighters to fuel blenders and other entities. an update on a story we told you about last hour. the associated press reports barcelonatives from soccer star name are have paid over $263 million to release him from his contract. this clears the way for his siding with paris st. germain. the payment shatters the previous world record transfer for paul pogba. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. david: may be in the wrong run of work. -- line of work. gary cohn is a longtime goldman president, now president trump's economic advisor and now within the arms reach of the holy grail, the chairman of the federal reserve. ,ere to talk about his chances we have two guess. we have heard from gary cohn, we have seen him as this imposing figure in t
biofuels program sought by valero energy and backed by billionaire refinery owner carl icahn. that is according to people familiar with the decision. have lobbiedahn the to shift responsibility for fulfilling annual biofuel quotas away from her fighters to fuel blenders and other entities. an update on a story we told you about last hour. the associated press reports barcelonatives from soccer star name are have paid over $263 million to release him from his contract. this clears the way for...
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Dec 11, 2015
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like bolero -- like valero. this is a big independent refiner in italy, 107% up over the last year. the demand has been relatively strong. whether theyion is will continue benefiting from demand. we continue to seek signs of the demand for oil and it is slowing down from the high levels of 2015. whole on that fact, the argument of 2015 the societies which are reluctant to combat production is that they wanted to keep market share amid concerns that the market share will continue to rise. thatunderlying belief global demand is faltering, that does not bode well for 2016 in terms of energy exposure. fracturingy of demand is the story of 2015, not the story of 2016. i think there will be a reversal from emerging markets that really pull down all the trade and the demand for oil. we can expect the demand on that front because we will see all the measures of lower currencies and policy measures that will rekindle the demand from china and other emerging markets of that is the potential surprise. i don't buy the story of oil at you dothat perspective the reporting on these stocks is it me
like bolero -- like valero. this is a big independent refiner in italy, 107% up over the last year. the demand has been relatively strong. whether theyion is will continue benefiting from demand. we continue to seek signs of the demand for oil and it is slowing down from the high levels of 2015. whole on that fact, the argument of 2015 the societies which are reluctant to combat production is that they wanted to keep market share amid concerns that the market share will continue to rise....
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Mar 2, 2019
03/19
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the company sold three plants last year to valero and shut down one. it strategy is to transform itself into a protein producer. think of it as food for cows and chickens. it is the fourth-largest feeder in the u.s. the company can process 11 million tons of corn, 3 million tons of livestock feed and 275 million pounds of industrial corn. after an operating loss from q want to q3 of last year of its ethanol business, it hopes for better revenue, a boost to margins and quick return to capital. will it work? the company recently missed revenue estimates for the fourth quarter and todd said the industry could have burned through about $1 billion in cash last year. i asked how much he would need to spend to diversify into that protein. todd: somewhere between $350 million and 500 million dollars to retrofit our platform and we are coming up with a plan to do that. we have one that will come online in the fourth quarter of this year. once we see that and see that it is working, we will move quickly to retrofit our platform. we have to get the money for it,
the company sold three plants last year to valero and shut down one. it strategy is to transform itself into a protein producer. think of it as food for cows and chickens. it is the fourth-largest feeder in the u.s. the company can process 11 million tons of corn, 3 million tons of livestock feed and 275 million pounds of industrial corn. after an operating loss from q want to q3 of last year of its ethanol business, it hopes for better revenue, a boost to margins and quick return to capital....
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Dec 23, 2015
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valerio has done -- valero has done well, as you pointed out. , closee well positioned to export markets, which continue to go higher, i think. the company has pretty strong extraty utilization, refineries, and i think it will be fine. carol: what is the big question -- the big issue investors should be watching when it comes to the energy path next year, and i have just about 20 seconds here. mr. glickman: i think the biggest issue is the potential for dividend cuts. we saw candor morgan cut its dividend by 70%. we have seen marathon cut its dividend, chesapeake. carol: so just watch for the dividend plays and what could happen. we have to run. stewart glickman. ♪ betty: good morning, and welcome back to bloomberg markets. it is time for the bloomberg business flash, a look at some of the biggest business stories in the news. taken theouthern has bit closer to a proxy fight. the canadian pacific's ceo says the company is ready to go to norfork southern's investors if the board will not discover a takeover. carl icahn has enhanced his offer to buy pep boys, promising to top any bid fro
valerio has done -- valero has done well, as you pointed out. , closee well positioned to export markets, which continue to go higher, i think. the company has pretty strong extraty utilization, refineries, and i think it will be fine. carol: what is the big question -- the big issue investors should be watching when it comes to the energy path next year, and i have just about 20 seconds here. mr. glickman: i think the biggest issue is the potential for dividend cuts. we saw candor morgan cut...
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Oct 13, 2016
10/16
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valero is currently standing it hasn't cfo and overseeing the financial nitty-gritty. evan is the face of the company, who is going to be an important person to get in front of investors. looking at imran khan's experience, he was responsible at credit suisse for leading the alibaba ipo, which has been a biggest technology public listing that folks have cared about in the past decade. when it comes down to the actual ipo and ipo readiness, you have to expect he will be in there and have opinions and guidance for the company as they marched through this process, which is very involved, and some companies don't like to go there because they can see it as a distraction. to have that kind of person on the bench with a former mattel executive in that cfos see, it seems like they have some guidance to help evan spiegel as he runs this company as ceo. emily: i remember running into khan on the floor of the new york stock exchange on the day of the alibaba ipo. a great scoop. thank you for bringing us that update. later in the show we will chat , with snapchat's first institut
valero is currently standing it hasn't cfo and overseeing the financial nitty-gritty. evan is the face of the company, who is going to be an important person to get in front of investors. looking at imran khan's experience, he was responsible at credit suisse for leading the alibaba ipo, which has been a biggest technology public listing that folks have cared about in the past decade. when it comes down to the actual ipo and ipo readiness, you have to expect he will be in there and have...
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Apr 11, 2016
04/16
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julie: let's start with energy and talk about valero. credit squeeze downgrading valero. say the stock has factored in the earnings weakness for the quarter. one factor is the difference between crude oil and the refine products. there's a structural concern in diesel cracks that might continue for some time. the main reason to sell refiner holdings is not necessarily the seasonal trade, but the likelihood of recession and valero shares are pulling back. bm oh capital is upgrading that on commodity prices and valuation. they will benefit from improving oil and gas rises and the shares are up 5%. other restaurant stocks to look we see positive catalysts for the company's sustained sales momentum at burger king and those shares are higher. one analyst at credit suisse looking at an attractive valuation seeing potential sale-leaseback and finally, brinker, that view increased with analysts there saying the third quarter was help by higher-priced sizzling steak and the reward loyalty program. sizzling steaks, i don't know where that rates. i am a filet mignon girl. judge me.
julie: let's start with energy and talk about valero. credit squeeze downgrading valero. say the stock has factored in the earnings weakness for the quarter. one factor is the difference between crude oil and the refine products. there's a structural concern in diesel cracks that might continue for some time. the main reason to sell refiner holdings is not necessarily the seasonal trade, but the likelihood of recession and valero shares are pulling back. bm oh capital is upgrading that on...
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Apr 19, 2018
04/18
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has hit a valero refinery in a texas city. we have live pictures in texas. that theyas tweeted are aware about the explosion and the local fire department is en route to assist with putting out the fire. we do not have more information at this point, but bolero is one of the u.s.'s largest refiners and we'll see if there's any implications for supplies. we will keep you posted on developments from that situation. that team day, and let's look at one of the top stories at the moment. trade tensions hanging over the imf meetings in washington. however, the lender's president says the global economy is showing solid momentum. may notwhile take spots severely damage growth, they are affecting confidence. we have more from washington. what has them would been like at the spring meetings this year? >> it is very upbeat here. all of the officials we have spoken to are pointing to a robust economy, shaking off the portrayed tensions. you heard a similar message today, and concern is that there will start to be a trip effect when it co
has hit a valero refinery in a texas city. we have live pictures in texas. that theyas tweeted are aware about the explosion and the local fire department is en route to assist with putting out the fire. we do not have more information at this point, but bolero is one of the u.s.'s largest refiners and we'll see if there's any implications for supplies. we will keep you posted on developments from that situation. that team day, and let's look at one of the top stories at the moment. trade...
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Aug 23, 2017
08/17
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the polis index was in -- -- the euro is benefiting and because of the euro, other currencies like valero are benefiting. we will be talking about this in a little bit. mark? mark: right. a big week for central bankers as they head to jackson hole tomorrow for the annual economic symposium, hosted by the kansas city fed. mario draghi will be there before he flies across the atlantic. he spoke in germany, repeating the old playbook is out the window when it comes to monetary policy. >> policy actions undertaken in the last 10 years, monetary policy and regulations, supervision have made the world more resilient. but we should continue preparing for new challenges. us to break down the cap forward for mario draghi and the ecb, and a look ahead to jackson hole is a pemco portfolio manager. -- pimco portfolio manager. thank you for joining us. let's talk about mario draghi. he did not talk about the euro or the impending ecb meeting which takes place at the beginning of next month. it leads us nicely to his speech on friday in jackson hole, wyoming. nuggets mightwhat he giveaway on friday abo
the polis index was in -- -- the euro is benefiting and because of the euro, other currencies like valero are benefiting. we will be talking about this in a little bit. mark? mark: right. a big week for central bankers as they head to jackson hole tomorrow for the annual economic symposium, hosted by the kansas city fed. mario draghi will be there before he flies across the atlantic. he spoke in germany, repeating the old playbook is out the window when it comes to monetary policy. >>...
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Dec 13, 2013
12/13
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both have an choppy, but as soon as we -- valero and tesoro. both have been choppy, but both of these stocks have moved quite a bit higher in the past three months and now we are seeing institutional money flow out through january and february, indicating they think the stocks will continue higher. that is a trend i want to follow. they have not gone to ron yet. --of course, the big risk is gotten it wrong yet. >> of course, the big risk is we think the fed will move next week. taper, how dohe you position yourself to invest refiners but protect against the taper? >> i look at trades where i can limit my downside risk and have a well-defined upside potential. this way, i am able to have a little risk for a big upside just a long was only investor, i could look at buying puts on the market at these levels. we have seen a big move higher on the vix at a percentage basis, but it is still trading on a relatively low level, holding just above 15. >> thank you very much. we will be back again in 30 minutes. in the meantime "bloomberg west" is up next
both have an choppy, but as soon as we -- valero and tesoro. both have been choppy, but both of these stocks have moved quite a bit higher in the past three months and now we are seeing institutional money flow out through january and february, indicating they think the stocks will continue higher. that is a trend i want to follow. they have not gone to ron yet. --of course, the big risk is gotten it wrong yet. >> of course, the big risk is we think the fed will move next week. taper, how...
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Feb 11, 2016
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earlier this week, valero stopped running as much crude as they could. earlier today, pbs energy, they did the same thing. they started cutting runs because they are losing money on the gasoline crack right now. class what happens with other countries if they cannot store more oil question markdan -- oil? dan: ships are expensive to rent. they cost money to move around in the ocean. it has to get wider and wider to incentivize storage. widespread's and that is the sort of market as to man heats up. scarlet: you have got to have the oil prices lower to make sense. thank you. we appreciate it. ahead, how can twitter grow its user base? we will speak with the coo next. ♪ >> i do not know i did that? it says scarlet in the prompter. twitter is in real trouble. in addition to reporting larger than reported earnings, the social media site said it added no new users in the last quarter. spoke toemily chang twitter posse's coo in san francisco. they discuss the slow user growth issue. genuineser growth in has bounced back to our original inels and we are confi
earlier this week, valero stopped running as much crude as they could. earlier today, pbs energy, they did the same thing. they started cutting runs because they are losing money on the gasoline crack right now. class what happens with other countries if they cannot store more oil question markdan -- oil? dan: ships are expensive to rent. they cost money to move around in the ocean. it has to get wider and wider to incentivize storage. widespread's and that is the sort of market as to man heats...
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Dec 24, 2014
12/14
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chevron and valero. -- you had chevron and valero good are you ready to buy back into energy names or is there more downside? >> we look for early adapters of trends. it is not a bad time to start layering into energy. with $60 a barrel on wti, it makes sense to consider the fact that if you look at a parking lot, it is not a parking lot of teslas, but rather, it is mostly gasoline-burning automobiles. we work on gasoline, natural gas -- >> yeah, but you were just saying you see long-term declining demand. right declining demand now is being felt as the global economy comes back, as europe comes back online, as china turns its domestic demand into a real driver, especially when you look at the emerging markets, they are inefficient burghers of energy. -- burghers of energy. when those economies come back, reflecting the growth in europe and increasing expansion in the u.s., energy prices should come back. i don't know if they will come back to triple digit overnight, but we expect that layering into energy is not a bad call. >> that will fuel the s&p 22311 by the end of 2015. we have
chevron and valero. -- you had chevron and valero good are you ready to buy back into energy names or is there more downside? >> we look for early adapters of trends. it is not a bad time to start layering into energy. with $60 a barrel on wti, it makes sense to consider the fact that if you look at a parking lot, it is not a parking lot of teslas, but rather, it is mostly gasoline-burning automobiles. we work on gasoline, natural gas -- >> yeah, but you were just saying you see...
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Feb 8, 2019
02/19
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it is dragging down companies like valero. conocophillips taking adventure that american crude -- advantage of american crude. romaine: how many times can you call for a comeback in european stocks and not be right? a lot of hedge fund managers starting to take a chance on european stocks after we had the big selloff last year. when you look at the relative discount to s&p stocks, you get the reason why some market hunters are starting to wade back into this. it was only $200 million -- a net gain nonetheless. that's according to the statement from bank of america merrill lynch. continue tofunds see outflows losing $700 million in the most recent week. we've had about $41 million in redemptions out of u.s. equity funds this year despite the big rally we've had. the data showing a lot of love for em stocks, we $.2 billion going back there. -- $3.2 billion going back there. a lot of folks chasing that yield, $4 billion going back into ig, $4.5 billion or so going back into high-yield bonds. i want to pick up looking at those blo
it is dragging down companies like valero. conocophillips taking adventure that american crude -- advantage of american crude. romaine: how many times can you call for a comeback in european stocks and not be right? a lot of hedge fund managers starting to take a chance on european stocks after we had the big selloff last year. when you look at the relative discount to s&p stocks, you get the reason why some market hunters are starting to wade back into this. it was only $200 million -- a...
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Sep 16, 2019
09/19
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we have valero down five or 6%. if this continues, it will have an impact on the consumer. kevin: our thesis going into this is there was global economic deceleration. we just got numbers out of china. there industrial activity continues to decline. we are putting oil prices lower they are today. the macro events will overwhelm the commodity prices. that said, what you tend to see is the supply response to this. that is more of a longer-term thing. we are not changing our longer-term macro views. the economy is growing worldwide. we are seeing deceleration outside the u.s. that is a bojo for a flat commodity price. vonnie: is the market under appreciating the potential for escalation and war? kevin: we have an industry that is going out to the line and pulled back. we will three if that is carried out or not. because of the infrastructure that is put into place, investors are looking for entry points. some of the more value centric investors have had this overweight energy. that is benefiting. on the cash flow forecasting, i think the where probability is way down in the si
we have valero down five or 6%. if this continues, it will have an impact on the consumer. kevin: our thesis going into this is there was global economic deceleration. we just got numbers out of china. there industrial activity continues to decline. we are putting oil prices lower they are today. the macro events will overwhelm the commodity prices. that said, what you tend to see is the supply response to this. that is more of a longer-term thing. we are not changing our longer-term macro...
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Feb 3, 2020
02/20
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cisco also down after metrics in earnings disappointed and valero among the energy prices lower on that oil dropping. guy: let's get back to jordan rochester joining us from number -- joining us from nemura. if bernie wins tonight, by were sell the dollar? jordan: it depends. the japanese yen would strengthen if you saw strong showing from bernie sanders. it is a slim win, then the market will keep in mind that joe biden could do well when it comes to super tuesday. however, the models are saying bernie should get around 30% of the vote tonight. if he gets 40% or higher than that, that will then lead to a big change in the models, big surprise in the polling, and we will see the bernie sanders risk premium go up. you will see the s&p supper. it is unclear what this means for emerging markets are high beta economies because you will see health care under pressure. when you see financial stock selloff you see safe havens go up. the dollar against the yen, against the suisse will weaken. against other places like emerging markets it is less clear. vonnie: where is the best action in forwar
cisco also down after metrics in earnings disappointed and valero among the energy prices lower on that oil dropping. guy: let's get back to jordan rochester joining us from number -- joining us from nemura. if bernie wins tonight, by were sell the dollar? jordan: it depends. the japanese yen would strengthen if you saw strong showing from bernie sanders. it is a slim win, then the market will keep in mind that joe biden could do well when it comes to super tuesday. however, the models are...
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Jan 4, 2017
01/17
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valero energy is cut at deutsche bank and then we have aes which was lowered to outperform, a cut over the headwind for the sector and possible project delays here. so some declines here for the energy complex. david: we turn from stocks to bonds. unconstrained funds saw the balloon. the nontraditional bond funds have stumbled at the last two years as investors voted with their money in favor of the low cost alternatives. but is 2017 the year unconstrained funds could finally live up to their hype? joining us now is brian .happatta what do they see in these funds that last year, investors didn't see? brian: the idea that duration is no longer the way to go. the treasury bonds outperformed but then rates sold off and as a result, the best results work for some of the funds that had with credittions like the unconstrained funds which can go anywhere. in emerging markets and they are not constrained by geography or maturity or credit quality. -- ais what is interesting lot of these managers are banking on the look at the final year-end statements and see that unconstrained funds returned
valero energy is cut at deutsche bank and then we have aes which was lowered to outperform, a cut over the headwind for the sector and possible project delays here. so some declines here for the energy complex. david: we turn from stocks to bonds. unconstrained funds saw the balloon. the nontraditional bond funds have stumbled at the last two years as investors voted with their money in favor of the low cost alternatives. but is 2017 the year unconstrained funds could finally live up to their...
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Aug 29, 2017
08/17
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valero and citgo said to be on the verge of restarting refineries in corpus christi. the secondmakes landfall as expected, the nation's largest oil refinery could be hit. the loss of refineries in that region would leave only facilities in louisiana supplying fuel to new york and other demand centers. president trump is promising that taxes will get emergency disaster aid quickly. he said there will be "very rapid reaction from congress." still there are signs that there may be a political fight over the money. a top texas conservative, financial services committee chairman, says he wants to cut spending to pay for the response to harvey. global news powered by more than 27 or journalists and analysts in more than 120 countries, i am courtney donohoe. this is bloomberg. big: let's get to another story moving markets -- north korea firing a missile over japan. president donald trump says all options are on the table. stephen engle files this report from tokyo. stephen: shinzo abe twice converging meetings of his security council following what he called the unprecedent
valero and citgo said to be on the verge of restarting refineries in corpus christi. the secondmakes landfall as expected, the nation's largest oil refinery could be hit. the loss of refineries in that region would leave only facilities in louisiana supplying fuel to new york and other demand centers. president trump is promising that taxes will get emergency disaster aid quickly. he said there will be "very rapid reaction from congress." still there are signs that there may be a...
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Apr 2, 2015
04/15
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we talked about valero and what went on with oil prices today given what had gone on with the iran agreement, so those of stocks went down sharply, and we did not talk about the index, -- we did not talk about the russian google and yandex has been hiring more employees but it is seeing a difficult time with russia's economy. alix: airbnb is trying to establish relations in cuba. the big challenge for the internet-based company is that just 4% of cuban homes are online. some of the listings do not even have hot water. cory johnson joins us from san francisco, and corey, how do you get around it when you don't have internet? corey:y: cold showers are amazing, and i love this story, because it really tells us what airbnb is, and how disruptive it is for the hotel business. there was a great moment last year when the cofounder tweeted that marriott said they were going to add 30,000 rooms over the course of the year, and he said i am going to add them in two weeks, so that is the kind of on capital constrained growth that airbnb can offer. the fact that it took myra lansky to build a hotel in t
we talked about valero and what went on with oil prices today given what had gone on with the iran agreement, so those of stocks went down sharply, and we did not talk about the index, -- we did not talk about the russian google and yandex has been hiring more employees but it is seeing a difficult time with russia's economy. alix: airbnb is trying to establish relations in cuba. the big challenge for the internet-based company is that just 4% of cuban homes are online. some of the listings do...
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Jan 11, 2016
01/16
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valero is a u.s. refiner. $35 billion, even though it processes around the same amount of oil that aramco does. aramco doestime, have experience with ipo's. saudi's rushing to get a slice of their country's oil industry. as prices have declined, that valuation has declined by more than a half. not in the trillions of dollars, but still not too shabby. on the board, a question of where the oil price go es. brent and wti both on the slide. any clues to where they are heading? elliott: we've seen some hedge fund bets. seems to be a good indication of where they are going. bullish bets fell by a quarter in the week ended january 5. if you look at the top line, in yellow, is the wti or u.s. traded oil. the bottom line, the blue one, that is bullish bets on oil. pretty much, where bullish bets have gone, oil prices have followed. specifically that precipitous decline. although hedge funds don't get things right on everything, they seem to be spot on when it comes to bullish bets on oil prices. manus: thank
valero is a u.s. refiner. $35 billion, even though it processes around the same amount of oil that aramco does. aramco doestime, have experience with ipo's. saudi's rushing to get a slice of their country's oil industry. as prices have declined, that valuation has declined by more than a half. not in the trillions of dollars, but still not too shabby. on the board, a question of where the oil price go es. brent and wti both on the slide. any clues to where they are heading? elliott: we've seen...
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Jun 19, 2015
06/15
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valero energy, because of bring in low-cost energy, but they benefit from the higher cost gasoline. so they have a robots at the bottom of the ocean, that is cool. one part of the energy group, the debt, drillers debt in particular has ballooned. it is a 16% increase from last year. how do you factor the debt and interest payments into the model? >> when we look at the individual stocks, those factors are built in. when i look at performance, looking at the group realizing that energy itself is not going to be affected, not going away, but realized it is part of a burden -- broader strategy. i published my portfolio recently which looks at those sectors with low correlations with one another and when they perform best in a cycle, technology is an early cycle performer, and energy being a late cycle inflation hedge and finding that having equal proportions of sectors, going back to 1990 for the large, 95 for the small caps and global, you outperform the market by 300 basis points and to do so may be every 2-3-- do so years. you need to use technology and energy as staples, as water w
valero energy, because of bring in low-cost energy, but they benefit from the higher cost gasoline. so they have a robots at the bottom of the ocean, that is cool. one part of the energy group, the debt, drillers debt in particular has ballooned. it is a 16% increase from last year. how do you factor the debt and interest payments into the model? >> when we look at the individual stocks, those factors are built in. when i look at performance, looking at the group realizing that energy...
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Dec 26, 2018
12/18
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names like holly frontier, marathon petroleum, valero , all of themips 66 will be driving improved margins, improved earnings results in 2019. given they are trading at a discount to their historical fort averages -- forward averages, they are interesting oil bets. if you are going to go more defensive or get into value, you would think this kind of environment is perfect for exxon or chevron but exxon is having his worst year since the reagan administration. we must say we have been under way the energy sector the last two years. it has not been a bad call on our part. now, likely, we would have to take a look at that and see what we would want to do with it going into 2019. like i said, we have still not arrived at placing our targets for 2019, for the s&p and the sectors. we are pausing because of this in order to decline we have seen this month, rather extraordinary. break, iioned on the was there for the 1987 crash when the dow plunged 27% in a day, and i was in a responsible position at the time, working at five world trade center at the time. that, these things happen, but you have
names like holly frontier, marathon petroleum, valero , all of themips 66 will be driving improved margins, improved earnings results in 2019. given they are trading at a discount to their historical fort averages -- forward averages, they are interesting oil bets. if you are going to go more defensive or get into value, you would think this kind of environment is perfect for exxon or chevron but exxon is having his worst year since the reagan administration. we must say we have been under way...