Diamonds and Dogs
Amazon gets Trump's message. The online juggernaut, a target of Trump before the election, is looking to warm up to Trump with an announcement today to create an additional 100,000 full-time, full-benefit jobs in the U.S. over the next 18 months. Many of the roles will be in new fulfillment centers that have been announced over the past several months and are currently under construction in Texas, California, Florida, New Jersey and many other states across the country. Amazon's stock is up a percent back above $800 for the first time in two months.
Hess (HES) is leaking air. The oil conglomerate is down 8% to a one month low after announcing their E&P capital and exploratory budget for 2017 will rise 18% from a year ago to $2.25 billion, to fund additional rigs in the Bakken, development activities in Guyana and to restart drilling in the Valhall Field in Norway. The company is also also taking a number of charges in the fourth quarter including a $3.8 billion noncash charge to establish valuation allowances against net deferred tax assets, a $700 million fourth-quarter charge to impair the carrying value of interests in Equus, and $140 million in charges for rig exit costs.
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