Author: FX

SlavkoSereda/iStock via Getty Images The oil and gas sector is the stock market’s worst performer this year, down 10% compared with the broader S&P 500’s 7.5% gain, after leading the market by far last year with a record breaking 59% surge. While various factors including Russia’s invasion of Ukraine sent commodity prices soaring last year, lifting shares of energy companies, concerns about a slowing global economy and energy demand have dragged down oil and gas prices this year, taking energy stocks down with them. Investors are shunning mutual funds and ETFs that track energy stocks, pulling more than $7B out…

CRUDE OIL FORECAST:Oil prices fall for the fourth straight week, a sign bears remain at the steering wheelGrowing recession risks, together with the U.S. debt ceiling impasse are likely to weigh on energy markets in the near termThis article looks at key tech levels to watch on oil’s daily chart Recommended by Diego Colman Get Your Free Oil Forecast Most Read: Gold Prices Veer Off Bullish Path as US Dollar Firms but Outlook Still UpbeatCrude oil prices (as measured by West Texas Intermediate front-month futures) retreated on Friday, settling slightly above $70.00 per barrel, and closing lower for the fourth…

Design Cells/iStock via Getty Images The market for oncology drugs is set to surge between now and the end of the decade, according to two new reports. IQVIA estimates that spending on oncology treatments in the US alone will rise to $125B by 2027 based on current treatments and the number of therapies in pipelines. The firm added it sees spending on oncology drugs in the US increasing 54% over the next five years. According to the GlobalData Drugs Database, there are currently 125 oncology drugs in pre-registration. The database also notes that approvals for new oncology drugs have almost…

CharlieAJA/iStock via Getty Images Catalent (NYSE:CTLT) postponed its Q3 earnings release and conference call for a third time and is now scheduled to release its results on Friday. The contract research organization delayed the results to Friday May 19 from Monday as the company works to finalize its financial statements, according to a statement late Friday. Catalent (CTLT), which hit a 52-week low on Friday, has lost more than half of its value this quarter as Wall Street reacted to its issues ranging from the exit of the finance chief, financial warnings, and delays of its quarterly earnings report. The…

© Reuters. Smoke rises from a wildfire in Strathcona County, Alberta, Canada May 5, 2023 in this screen grab obtained from a social media video. Twitter @hellohildy/via REUTERS By Ismail Shakil and Anna Mehler Paperny OTTAWA (Reuters) -Canada’s main oil-producing province of Alberta faces another hot and dry weekend, with warnings of more intense wildfires after blazes forced thousands to evacuate homes and temporarily shuttered energy production. Authorities in at least one fire-ravaged area said Saturday they had already seen an increase in fire activity and were expecting more. Residents forced to evacuate early this month say they are frustrated…

© Reuters. FILE PHOTO: Ukraine’s President Volodymyr Zelenskiy attends a joint press conference with European Commission President Ursula von der Leyen (not pictured), amid Russia’s attack on Ukraine, in Kyiv, Ukraine May 9, 2023. REUTERS/Valentyn Ogirenko By Philip Pullella ROME (Reuters) -Ukrainian President Volodymyr Zelenskiy began a visit to Rome on Saturday for talks with government officials and Pope Francis, who in late April said that the Vatican is involved in a peace mission to end the war with Russia. Zelenskiy, on his first trip to Italy since Russia invaded in February last year, held talks with President Sergio Mattarella…

Warning: ORCC is at high risk of cutting its dividend Source link

SandRidge Energy declares special dividend of $2.00, plans quarterly payout of $0.10, $75M buyback Source link

© Reuters. FILE PHOTO: US Treasury Secretary Janet Yellen (R) speaks during a meeting with Japan’s Finance Minister Shunichi Suzuki at the G7 Finance Ministers and Central Bank Governors’ Meeting in Niigata on May 13, 2023. KAZUHIRO NOGI/Pool via REUTERS By Andrea Shalal NIIGATA, Japan (Reuters) – Treasury Secretary Janet Yellen on Saturday called the showdown over raising the U.S. debt ceiling “more difficult” than in the past but said she remained hopeful a solution could be found to avert a first ever U.S. default Yellen told Reuters in an interview on the sidelines of a meeting of Group of…

Mario Tama/Getty Images News General Motors (NYSE:GM) said Friday it is recalling nearly 1M sport utility vehicles in the U.S., responding to a push by federal regulators to recall 67M defective air bag inflators due to a potential safety defect. The recall covers 994,763 Buick Enclave, Chevrolet Traverse and GMC Acadia vehicles in the 2014-17 model years with modules produced by ARC Automotive, which the National Highway Traffic Safety Administration said could explode and spray shrapnel around a vehicle. But ARC has rejected the regulator’s request so far, denying its products are defective and saying that any problems with air…