|By PR Newswire||
|February 11, 2013 09:30 AM EST||
CHICAGO, Feb. 11, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include McGraw-Hill Companies Inc. (NYSE:MHP), Exxon Mobil Corp. (NYSE:XOM), Chevron Corp. (NYSE:CVX), ConocoPhillips (NYSE:COP) and ONEOK, Inc. (NYSE:OKE).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Friday's Analyst Blog:
Domestic Crude Supplies Rise
The U.S. Energy Department's weekly inventory release showed that crude stockpiles logged an increase, as refinery demand weakened. The report further revealed that within the 'refined products' category, gasoline stocks rose, while distillate supplies were down from the week-ago levels.
The Energy Information Administration (EIA) Petroleum Status Report, containing data of the previous week ending Friday, outlines information regarding the weekly change in petroleum inventories held and produced by the U.S., both locally and abroad.
The report provides an overview of the level of reserves and their movements, thereby helping investors understand the demand/supply dynamics of petroleum products. It is an indicator of current oil prices and volatility that affect the businesses of the companies engaged in the oil and refining industry.
Analysis of the Data
Crude Oil: The federal government's EIA report revealed that crude inventories rose by 2.62 million barrels for the week ending Feb 1, 2013, following a climb of 5.95 million barrels in the previous week.
The analysts surveyed by Platts – the energy information arm of McGraw-Hill Companies Inc. (NYSE:MHP), had expected oil stocks to go up some 3 million barrels. A drop in refinery utilization rates led to the stockpile build-up with the world's biggest oil consumer even as imports decreased.
However, crude inventories at the Cushing terminal in Oklahoma – the key delivery hub for U.S. crude futures traded on the New York Mercantile Exchange – was down 315,000 barrels from the previous week's level to 51.36 million barrels. Stocks are currently just under the all-time high of 51.86 million barrels reached in January.
At 371.68 million barrels, current crude supplies are 9.6% above the year-earlier level, and comfortably exceed the upper limit of the average for this time of the year. The crude supply cover was up from 25.0 days in the previous week to 25.5 days. In the year-ago period, the supply cover was 23.6 days.
Gasoline: Supplies of gasoline were up for the first time in 3 weeks, as domestic consumption fell and imports rose. This was partially offset by lower production.
The 1.74 million barrels gain – in line with the analysts' projections – took gasoline stockpiles up to 234.04 million barrels. As a result of this build, the existing inventory level of the most widely used petroleum product is 0.9% higher than the year-earlier level and is in the upper half of the average range.
Distillate: Distillate fuel supplies (including diesel and heating oil) fell 1.04 million barrels last week, higher than the analysts' expectations for a 750,000 barrels drop in inventory level. The decrease in distillate fuel stocks – the second in as many weeks – could be attributed to sharply lower imports, partially offset by weaker demand and higher production.
At 129.58 million barrels, distillate supplies are 11.6% below the year-ago level and are close to the lower limit of the average range for this time of the year.
Refinery Rates: Refinery utilization was down 0.8% from the prior week to 84.2%. The analysts were expecting the refinery run rate to go down by 0.75%.
A bullish data from the EIA generally acts as a positive catalyst for crude prices and buoy producers, such as Exxon Mobil Corp. (NYSE:XOM), Chevron Corp. (NYSE:CVX) and ConocoPhillips (NYSE:COP). With an improvement in the companies' ability to generate positive earnings surprises, they can then move higher from their current Zacks Rank #3 (Hold).
ONEOK Downgraded to Underperform
On Feb 7, 2013, we downgraded our recommendation on energy company, ONEOK, Inc. (NYSE:OKE) to Underperform from Neutral. The company currently has a Zacks Rank #5 (Strong Sell).
Why the Downgrade?
The combined negative impact from the sudden discontinuation of ONEOK's Bakken Crude Express Pipeline project, stringent utility regulations, volatile commodity prices, risks from the local distribution companies, unstable credit and capital markets as well as over dependence on weather conditions forced us to downgrade our recommendation on the stock.
Causes for Concern
ONEOK discontinued its Bakken Crude Express Pipeline project due to weak crude oil demand in the region. The company had already invested a substantial amount in this project and intended to deploy $1.5-$1.8 billion till its completion in the middle of 2015. We expect closure of this project to impact the financials of the company adversely.
Utility providers like ONEOK follow a number of regulations related to customer service and the rates charged to customers, as well as the extensive environmental rules. Utilities generally invest considerable amounts to follow these guidelines. ONEOK's profitability depends primarily on its ability to realize the costs for providing energy and other commodities to customers by obtaining the required regulatory approvals.
In addition, ONEOK's business and demand of products, particularly propane, is weather sensitive. This seasonality along with variations in weather conditions may cause disparity in the company's financial results.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
SOURCE Zacks Investment Research, Inc.
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
May. 6, 2016 02:45 AM EDT Reads: 1,285
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
May. 6, 2016 02:00 AM EDT Reads: 1,399
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
May. 6, 2016 01:45 AM EDT Reads: 1,433
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
May. 6, 2016 01:30 AM EDT Reads: 1,386
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 6, 2016 01:00 AM EDT Reads: 1,255
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 6, 2016 12:00 AM EDT Reads: 1,481
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
May. 5, 2016 11:30 PM EDT Reads: 1,353
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 5, 2016 07:45 PM EDT Reads: 1,505
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 5, 2016 06:00 PM EDT Reads: 1,053
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
May. 5, 2016 05:00 PM EDT Reads: 1,284
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
May. 5, 2016 05:00 PM EDT Reads: 1,379
Peak 10, Inc., has announced the implementation of IT service management, a business process alignment initiative based on the widely adopted Information Technology Infrastructure Library (ITIL) framework. The implementation of IT service management enhances Peak 10’s current service-minded approach to IT delivery by propelling the company to deliver higher levels of personalized and prompt service. The majority of Peak 10’s operations employees have been trained and certified in the ITIL frame...
May. 5, 2016 04:00 PM EDT Reads: 1,201
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
May. 5, 2016 04:00 PM EDT Reads: 790
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
May. 5, 2016 03:45 PM EDT Reads: 763
As the rapid adoption of containers continues, companies are finding that they lack the operational tools to understand the behavior of applications deployed in these containers, and how to identify issues in their application infrastructure. For example, how are multiple containers within an application impacting each other’s performance? If an application’s service is degraded, which container is to blame? In the case of an application outage, what was the root cause of the outage?
May. 5, 2016 03:00 PM EDT Reads: 1,189