Wall Street jumps 1 percent, looks beyond Paris attacks

"Wall Street surged over 1 percent on Monday as investors bet Friday's deadly attacks in Paris would have little long-term effect on the U.S. economy and corporate earnings.

U.S. oil prices rose after French air strikes in Syria in reaction to multiple attacks in Paris on Friday that killed 129 people, with Islamic State claiming responsibility. Exxon's (XOM.N) shares rose 2.65 percent, while Chevron (CVX.N) was up 3.45 percent. [O/R]

The three major U.S. stock indexes opened with a loss but soon turned around, with the Dow Jones industrial average and S&P 500 climbing more than 1 percent.

"Markets are slowly becoming more and more immune to these types of events," said John Brady, managing director at R.J. O’Brien & Associates in Chicago. "Right at the opening there was a bit of a panic trade and then from there more steady hands - more professional, deep-pocketed hands - came in and bought the market."

All of the 10 major S&P sectors rose, led by telecom .SPLRCT and energy .SPNY stocks, although companies linked to travel and leisure took a hit.

American Airlines (AAL.O) dropped 2.07 percent, United Continental (UAL.N) fell 1.41 percent and Delta Airlines (DAL.N) lost 2.59 percent.

Cruise operator Carnival Corp (CCL.N) fell 2.04 percent, while travel company Expedia (EXPE.O) was down 2.63 percent.

At 2:34 pm, the Dow Jones industrial average .DJI was up 1.11 percent at 17,436.48 points and the S&P 500 .SPX gained 1.11 percent to 2,045.4.

The Nasdaq Composite .IXIC added 0.8 percent to 4,967.37.

Billionaire investor Warren Buffett told CNBC he was not selling any securities from his portfolio as a result of the attacks.

Buffett cut his stakes in Goldman Sachs (GS.N) and Wal-Mart (WMT.N) in the quarter to Sept. 30, and raised his holding in IBM (IBM.N), according to a regulatory filing. Goldman was nearly flat. IBM was up 1.65 percent and Wal-Mart 1.8 percent.

Investors remain focused on expectations that the U.S. Federal Reserve could hike interest rates in December for the first time in nearly a decade, Brady said.

Last week, U.S. stocks logged their largest weekly loss since August on the back of weak economic data and disappointing earnings from retailers such as Macy's (M.N).

Starwood Hotels (HOT.N) fell 4.7 percent to $71.47 after agreeing to be bought by Marriott International (MAR.O) for $12.2 billion, or $72.08 per share. Marriott rose 0.22 percent.

Advancing issues outnumbered decliners on the NYSE by 2,051 to 945. On the Nasdaq, 1,551 issues rose and 1,203 fell.

The S&P 500 index showed four new 52-week highs and 14 new lows, while the Nasdaq recorded 12 new highs and 144 new lows.

(Additional reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio D'Souza, Saumyadeb Chakrabarty and Chizu Nomiyama)"

Hmm.  That's interesting-  the earnings started before the attacks in Paris

5 Defense Stocks that Crushed Q3 Earnings Estimates
by Zacks Equity Research Published on October 29, 2015 |

Don't be influenced by widespread concerns that budgetary belt-tightening on Capitol Hill will hit the bottom lines of U.S.-based defense contractors. Every fiscal year, no matter how constrained is the funding picture, the Pentagon almost always gets its way.

This is quite evident from the recent Zacks Earnings Trend. The earnings beat ratio of 77.8% of the aerospace and defense companies that have already unfolded their Q3 earnings results is a stellar 85.7%.

These defense companies were not only up against the ongoing budget austerity but were subject to a tepid economic growth scenario throughout the third quarter of 2015. Growth remained challenged for most of the quarter thanks to a strong dollar and weak energy prices. Moreover, the persistent slowdown in China deepened global economic woes. Cracks began to appear in the economy at a time when the U.S. was reasserting itself as the global growth leader.

In spite of the macro issues, the defense companies held up well this past quarter. They have not only reported better-than-expected results but also lifted their views. Let’s have a look at some of the defense companies that have crushed the Street expectations this Q3 season:

Lockheed Martin Corp. (LMT - Analyst Report)

The Pentagon’s prime contractor – Lockheed Martin − opened this earnings season with robust third-quarter profits. It reported better-than-expected earnings along with higher revenues, solid margins, and strong cash flows, buoyed by robust sales of its F-35 Joint Strike Fighter. The solid quarterly results have enabled it to lift its 2015 guidance for sales, operating profit, and EPS.

Lockheed Martin continues to be a strong cash generator helping it to take important cash deployment decisions. In the third quarter, it achieved over $1.5 billion in cash from operations compared with $990 million a year ago. Also, during the quarter, the company’s board of directors approved two major moves in the areas of cash deployment.
First, Lockheed Martin increased its quarterly dividend by 10%, bringing the annualized payout to $6.60 per share from $6.00 per share earlier. This marked the 13th consecutive annual double-digit increase in Lockheed Martin’s quarterly dividend rate. Along with that, this defense behemoth has also increased its share repurchase authorization by $3 billion, consistent with its plan to have less than 300 million shares outstanding by the end of 2017.

This military super hero is the main beneficiary of war and armed conflict, of which the world has no dearth. The company's third-quarter results reveal that this defense company is overflowing with orders, comprising both foreign and domestic, that will boost its bottom line through 2016 and beyond.

The Boeing Company (BA - Analyst Report)

Aerospace giant delivered third-quarter 2015 adjusted earnings of $2.52 per share, confidently beating the Zacks Consensus Estimate by 13.5%. Earnings also increased 18% year over year on the back of strong operational performance.

Revenues came in at $25.85 billion for the quarter, exceeding Street expectations by 4.5% and improving 9% from the year-ago level on solid commercial aircraft deliveries. Free cash flow was strong at $2.3 billion compared with $317 million a year ago.

The company raised its full-year earnings outlook to the range of $7.95–$8.15 per share from the prior guidance of $7.70–$7.90 per share. Boeing also lifted its revenue guidance for the year to the range of $95−$97 billion from $94.5–$96.5 billion expected earlier driven by increased commercial delivery outlook.

Northrop Grumman Corp. (NOC - Analyst Report)

Just after winning a multibillion-dollar contract to build a new U.S. bomber, Northrop reported solid third quarter 2015 results with revenue and earnings beating the Street expectations by 6% and 2.4%, respectively. The maker of the current B-2 bomber and Global Hawk unmanned planes has also increased its profit outlook for the full year.

Operating margin expanded to 13.3% from 12.9% due to higher pension adjustments and a $21 million decrease in corporate expenses. Chief Executive Officer, Wesley Bush, said that the international market accounted for 15% of its business so far this year and the company is witnessing demand from Europe on the Triton plane.

Northrop reported a 3.9% rise in third-quarter adjusted earnings to $2.41 per share from $2.32 a year earlier. It also raised the low end of its 2016 revenue guidance.


Apart from the solid earnings report, Northrop shares climbed 5.48% on Wednesday after winning a contract from the Department of Defense for the Long Range Strike Bomber (LRS-B), beating out a Boeing-Lockheed Martin team. The new B-3 bomber will replace Boeing's B-52s, which have been in operation since the 1950s. The Air Force plans to buy 80 to 100 of the new airplanes, and the contract could go up to $50 billion to $80 billion. The first airplanes are scheduled to enter service around 2025.

General Dynamics Corp. (GD - Analyst Report)

The company’s third-quarter earnings from continuing operations of $2.28 per share topped the Street consensus by 8.6% and also increased 11.2% from the year-ago period on the back of higher defense orders and solid demand for its Gulfstream airplanes.

Revenues of $7.99 billion surpassed the Street expectation by 3.1%. Notably, General Dynamics delivered 31 "outfitted" large-cabin aircraft in the third quarter, up by 6 units, while deliveries of mid-cabin jets doubled to 12.

General Dynamics’ third-quarter results were also driven by international defense orders, comprising a contract announced in September to refurbish and upgrade 150 Abrams tanks for sale to the Kingdom of Morocco.

The company raised its 2015 profit outlook based on Q3 results, higher deliveries of Gulfstream business jets and surging sales at the submarine-building unit. Earnings are expected to be between $8.90 and $9.00 per share for 2015, up from $8.70 to $8.80 projected earlier.

Textron Inc. (TXT - Analyst Report)

Diversified U.S. conglomerate Textron reported third-quarter 2015 earnings from continuing operations of 63 cents per share, beating the Zacks Consensus Estimate of 60 cents by 5%. The reported figure also increased 10.5% from the year-ago quarter, driven by solid margin contribution across all its segments despite the plunge in revenues.

The company’s share prices also moved north as the maker of Bell helicopters and Cessna business jets is valiantly weathering turbulence in the aerospace market. Although Bell was hurt by slumping oil and gas industry demand, its 13.1% margin grew from a year earlier, reflecting solid performance.

Profit for 2015 is now expected to be $2.40 to $2.50 a share, narrower than the earlier forecast range of $2.30 to $2.50.

Bottom Line

Although a stronger dollar and budget austerity were deterrents, we believe these stocks have played well in this earnings season considering their cost-cutting measures, stock buybacks and earnings gains from overseas businesses.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
- See more at: http://www.zacks.com/stock/news/195804/5-defense-stocks-that-crushed-q3-earnings-estimates#sthash.7JCXcjFA.dpuf
Read more at Reutershttp://www.reuters.com/article/2015/11/16/us-markets-stocks-idUSKCN0T516220151116#c9cQOfhAlmk286rZ.99

It's raining...again

I'm tried of this winter's rain, January is often nice and warm for the tourists. It's not real rain, just gloomy, damp and drizzly. People in this county still drive like idiots when it rains, not realizing that the roads are so crowded that they are covered with oil, and very slick because we rarely get enough rain to wash the oil off of them.

I'm surprised that the cops had time to come and take pictures of my neighbors car that got keyed. Me, classy lady that I am, asked "Did they fuck with mine too?" The keyed car was parked right next to mine. Jebus, I really should have a cuppa coffee before I present myself to the cops in my doofy pjs, obnoxiously bright slippers and ratty, ancient (but much loved) robe.

Tar Sands Activist Interrupts Texas Oil & Gas Conference

Tar Sands Activist Interrupts Texas Oil & Gas Conference
by Puck Lo, CorpWatch Blog
January 31st, 2013

Seriously man, wtf is this?

Is this a report on whether or not my little blog is a threat to the oil industry?

so I did a few posts on OIL, so what?

Tomgram: Michael Klare, Extreme Energy Means an Extreme Planet

October 4, 2012
Tomgram: Michael Klare, Extreme Energy Means an Extreme Planet

If you want a particularly hard-headed assessment of how successfully Barack Obama, the most vulnerable president in memory, is pursuing his reelection campaign, don’t bother to check the polls; just read “Bibi” Netanyahu’s U.N. speech of last week.  The Israeli Prime Minister had, until then, all but campaigned for Mitt Romney, his old Boston Consulting Group pal, who claims Obama has thrown Israel “under the bus.” 

Oh Jebus.  Can I puke now?  Is Romney campaigning for Prime Minister of Israel or President of the United States?  

Fuck Israel.  

There.  I said it.  Except for providing the best spies and mercenaries on the planet they are a nothing but a major pain in the ass.  The victims have become victimizers.


That was just part of the intro for this article;


The New “Golden Age of Oil” That Wasn’t
Forecasts of Abundance Collide with Planetary Realities
By Michael T. Klare

yer congress workin fer you!

July 30, 2012
In this MegaVote for California's 50th Congressional District:

Recent Congressional Votes
Senate: Tax Cut Extension – Republican Substitute
Senate: Tax Cut Extension – Passage
Senate: Cybersecurity – Cloture
House: Tribal Land Leases – Suspension
House: Levee Construction – Suspension
House: Oil and Gas Drilling – Passage
House: Federal Reserve Audit – Suspension
House: Regulatory Overhaul


pfffft. Pfffft.   PFFFFFFFTTTT.


hat tip to skippy
14 reasons why this is the worst Congress ever
Posted by Ezra Klein on July 13, 2012 at 8:00 am

Banks in Collusion With the Fed Shamelessly Spike Up Price of Oil/Gasoline

Banksters are like parasites who kill their hosts.
Read the Article at HuffingtonPost

Oil Price Skyrockets 9.36 Percent in Friday's Trading, Supply and Demand. Eh??

Thank you Mr. Learsy,



I like that someone who understands these things is paying attention and writing about it.
Read the Article at HuffingtonPost

Oh screw the banksters

Published on Monday, May 21, 2012 by Common Dreams
How the Ultra-Rich Betray America
by Paul Buchheit

"... The wealthy benefit disproportionately from property and inheritance laws, contracts, stock exchanges, favorable SEC regulations, the Small Business Administration, patent and copyright and intellectual property laws, estate planning, trust funds, Internet marketing, communications infrastructure, highway maintenance, air traffic control, local and national security, and 60 years of research in technology and other industries..."

"...Denial: Traders feel it's inappropriate to pay even a tiny tax on a quadrillion dollars in sales

A quadrillion dollars sounds like a fake amount. But it's all too real. That's a thousand trillion dollars of derivatives transactions which, along with the high-frequency computer-generated transactions (5,000 per second) that make up over half of U.S. stock trades, contributed to a financial meltdown and a $3 trillion bailout for reckless trading.

But there's no tax on these transactions.

While average Americans pay a 10% sales tax on necessities, millionaire investors pay just a .00002% SEC fee (2 cents for every thousand dollars) for a financial instrument. And their supporters claim, inexplicably after the disastrous trading frenzy in 2008, that a tax would increase volatility..."

("Increase volatility?" Now that is the most ridiculous statement I've heard in a while. Jebus, how stupid do these colostomy bag contents think we are?)


Published on Wednesday, May 23, 2012 by Common Dreams
Snarling Banks
by Jim Hightower

"...Thank you, Supreme Court, for making this crass money play possible with your plutocratic Citizens United decision. Now that bankers are going to intimidate officeholders with the threat to put unlimited campaign cash against them, we can expect Big Oil, Big Pharma and all the other Bigs to join the fun...."


"...Wells Fargo now hits you for $15 a month just to have a checking account, unless you keep at least $7,500 in your account. Citibank charges $20 a month, unless you keep $15,000 on deposit — more than double last year's level. Bank fees for money orders have doubled, and fees for cashier's checks have quadrupled..."

There is a way out of this endless abuse-the-customer game: Move your money out of their vaults! For help, go to

http://www.moveyourmoneyproject.org/"

Energy wars heat up

Hmm. Remember that Arab Spring that was kind of exciting to watch?

 THURSDAY, MAY 10, 2012 07:33 AM PDT
  Energy wars heat up From Africa to South America, conflicts over waning resources are becoming more tense -- and dangerous BY MICHAEL T. KLARE

 "...* Egypt cuts off the natural gas flow to Israel: On April 22nd, the Egyptian General Petroleum Corporation and Egyptian Natural Gas Holding Company informed Israeli energy officials that they were “terminating the gas and purchase agreement” under which Egypt had been supplying gas to Israel. This followed months of demonstrations in Cairo by the youthful protestors who succeeded in deposing autocrat Hosni Mubarak and are now seeking a more independent Egyptian foreign policy — one less beholden to the United States and Israel. It also followed scores of attacks on the pipelines carrying the gas across the Negev Desert to Israel, which the Egyptian military has seemed powerless to prevent...."

 Well, you would think that their gains in freedom might be our losses in higher gas prices, right? Mmmmm, not so fast: 

 Raymond J. Learsy
Author, 'Oil and Finance: The Epic Corruption Continues'
  JPMorgan's $2 Billion Loss and the Price You Are Paying for Gas at the Pump 
Posted: 05/11/2012 10:40 am

900 dolphins, 5,000 birds dead in Peru

900 dolphins, 5,000 birds dead in Peru 
Posted May 10, 2012 07:17:21

Weather expert Abraham Levy said on Tuesday the warming of the Pacific waters due to El Nino could be to blame.

 (cough, bullshit, cough)

acoustic trauma?  biotoxins?  

Oil and Gas Exploration Threatens Peruvian Amazon
February 22, 2010
 "...A recent report, however, indicates that the Peruvian government has now conceded a whopping 41 percent of their Amazon territory for oil and gas exploration..."

On bailout stuff (old post from June '09)

Raymond J. Learsy
Scholar and Author of 'Over a Barrel: Breaking Oil’s Grip on Our Future'
Posted: June 9, 2009 06:28 AM
Is JPMorgan a Bank or a Government-Funded Casino?

...Just last week, a leading source of tanker operations info reported that the good people of JPMorgan hired the good ship, or better put, the VLCC Super Tanker 'Front Queen' for nine months, I repeat nine months, to carry 2 million barrels of heating oil for storage duty off Malta....

What is the price of oil right now?

I think maybe I was too hard on Ben Bernanke. I learned things about the man and his job that I did not know on this 60 Minutes interview

FACTBOX: Where has the U.S. bailout money gone?
Reuters
Tue Jun 9, 2009 1:34pm EDT

Subsidizing the Most Profitable Industry on Earth

Subsidizing the Most Profitable Industry on Earth
April 5, 2012
by Bill McKibben

Along with “fivedollaragallongas,” the energy watchword for the next few months is: “subsidies.” Last week, for instance, New Jersey Senator Robert Menendez proposed ending some of the billions of dollars in handouts enjoyed by the fossil-fuel industry with a “Repeal Big Oil Tax Subsidies Act.” It was, in truth, nothing to write home about — a curiously skimpy bill that only targeted oil companies, and just the five richest of them at that. Left out were coal and natural gas, and you won’t be surprised to learn that even then it didn’t pass.

OIl and money, money and oil

Tomgram: Michael Klare, Welcome to the New Third World of Energy, the U.S.
Posted by Michael Klare at 5:09pm, April 1, 2012.

"...Fracking Our Way to a Toxic Planet

Such pressures in the Third World have forced the major U.S. and European firms -- BP, Chevron, ConocoPhillips, ExxonMobil, Royal Dutch Shell, and Total of France -- to look elsewhere for new sources of oil and natural gas. Unfortunately for them, there aren’t many places left in the world that possess promising hydrocarbon reserves and also welcome investment by private energy giants. That’s why some of the most attractive new energy markets now lie in Canada and the United States, or in the waters off their shores. As a result, both are experiencing a remarkable uptick in fresh investment from the major international firms.

Both countries still possess substantial oil and gas deposits, but not of the “easy” variety (deposits close to the surface, close to shore, or easily accessible for extraction). All that remains are “tough” energy reserves (deep underground, far offshore, hard to extract and process). To exploit these, the energy companies must deploy aggressive technologies likely to cause extensive damage to the environment and in many cases human health as well. They must also find ways to gain government approval to enter environmentally protected areas now off limits...

Put another way, North America will have to be Third-Worldified."


Raymond J. LearsyAuthor, 'Oil and Finance: The Epic Corruption Continues'
Shell Supports Iran's Murderous Mullahs; Should We Be Supporting Shell?
Posted: 04/ 2/2012 5:16 am

Russia Moves to Drill in Arctic, Oil Companies Follow Suit
Brian Merchant
Business / Corporate Responsibility
February 15, 2011

SUNDAY, APR 1, 2012 2:00 PM PDT
How billionaires destroy democracy
Wealthy Wall Streeters have rigged the economy and the government against the people. Here's how they did it
BY LINDA MCQUAIG AND NEIL BROOKS

The Price of Oil: Saudi Hypocrisy, Our Gullibility

"Speaking of speculation -- or worse, manipulation -- and given the lack of transparency in the trading of oil futures in the world's commodity markets..." Eggzakly!
Read the Article at HuffingtonPost

Haven't read Clusterfuck Nation in a while

because ya gotta toughen up the emotional skin before diving into his pool.

I'm good today, you?

Let's go into

A Fog of Mendacity
By James Howard Kunstler
on February 27, 2012 9:43 AM

Omygodomygodomygod I love this guy:

" ...The US government is in on this propaganda offensive, especially the Department of Energy's Energy Information Agency (EIA), which routinely issues overly optimistic reports about future oil production. The political spin is a quixotic effort to promote another commonly touted lie about the future: that the US is approaching a point of "energy independence." You'll know we got there when you have to walk to your new job weeding the potato fields. The mendacity behind this propaganda is strictly the wish of politicians to avoid telling voters the truth, out of sheer cowardice for the consequences..."

Once again, speculators behind sharply rising oil and gasoline prices

Once again, speculators behind sharply rising oil and gasoline prices
Posted on Tuesday, February 21, 2012
By Kevin G. Hall | McClatchy Newspapers

"...Historically, financial speculators accounted for about 30 percent of oil trading in commodity markets, while producers and end users made up about 70 percent. Today it's almost the reverse..."

The other night my congressman had another one of those telephonic town hall meetings and for some reason I get called. This time I didn't hang up and kept a running commentary going. There is a warning that you might be recorded. Good. I hope they recorded me strongly requesting that he bring up speculation in the oil markets as he was babbling on about some pie in the sky algae crap and whining about ethanol mixes and the price of gasoline. I didn't place myself in the queue for questions because I'm not diplomatic in the least. Mostly it was a chance for him to spew RepugnanThuglican talking points and a chance for "his constituents" to bitch about Obama.

Sometimes I hate the fact that I can filter out the bullshit. *sigh*

Maine Freezes While Washington Snoozes

"There is a profound lack in this administra­tion's understand­ing of the functionin­g of oil markets. "

There is a profound "guided" interest of ALL markets in this administra­tion.
Read the Article at HuffingtonPost

oooh, shiny pretty

My friend teases me that some women get mani-pedis and I get new Birks, but that is a relatively new development.

These are actually not a Birkenstock, but a brand licensed by Birkenstock. They are a

"

Papillio Womens Florida Pepe Bronze Leather "

and they are kicking my ass. They were not manufactured this year, so the leather was cracking and the stuff that makes them shiny/pretty also makes them stiff. A bit of mink oil on the inside of the straps did the trick. The last two pairs I bought were wool soft footbeds so the break in time was negligible.... er... nonexistent really. Breaking in leather Birks with a regular footbed sucks, and I haven't done it in years.

Oil Trades Near Six-Week High on Iran Threat to Crude Transport

December 27, 2011, 9:40 PM EST "..Dec. 28 (Bloomberg) -- "Oil traded near the highest level in six weeks after Iran threatened to block crude transportation through the Strait of Hormuz, increasing concern that global supplies will be curbed amid shrinking U.S. stockpiles.
 ...Oil for February delivery was at $101.54 a barrel, up 20 cents, in electronic trading on the New York Mercantile Exchange at 10:12 a.m. Singapore time. It rose $1.66, or 1.7 percent, to $101.34 a barrel yesterday, the highest settlement since Nov. 16. Futures have climbed 11 percent this year after increasing 15 percent in 2010..."

  Sam's Exchange: The Irony of Iranian Sanctions
18:26 20/12/2011
Biweekly column by Sam Barden
 "...Of course the biggest loser out of sanctions on Iranian oil is Europe. Europe currently imports about 900,000 barrels a day of Iranian oil. Europe has not been able to agree a ban on oil imports, and is unlikely to. The biggest importers of Iranian oil in Europe is Spain, Italy Greece and Portugal. Any sanctions on Iranian oil would cripple these already struggling economies..."

  China’s Frustrated Iran Diplomacy
December 26, 2011
By Willem van Kemenade

 "...The next step was the publication in November of a new report by the International Atomic Energy Agency (IAEA) on Iran’s “progress” toward a nuclear device, including computer modelling of a nuclear warhead, testing explosives in a large metal chamber and studying how to arm a Shahab 3 medium-range missile with an atomic warhead. However, the report was considered too weak by Russia and China to justify more sanction..." Tuesday, Dec. 27, 2011 Medvedev: Test of much-heralded new missile done