Diamonds and Dogs
Oil gushing higher. Crude oil breaks out to two-month high after Russia and OPEC ruled out a near term supply increase as US sanctions on Iran go into place. The Energy ETF is up 1.5% as one of the few sectors trading higher today. Exxon, Conoco, EOG Resources, Occidental Petroleum, Anadarko, Apache, Hess, Marathon, Devon, and Valero are all up over 1%. Geopark (GPRK) is up 3%.
Good news, Comcast (CMCSA) outbids rivals to buy British broadcaster, Sky for $40 billion. The bad news is Comcast's stock is down 7% on pace for one of its worst days in nearly a decade. Investors seem to think that Comcast overpaid as more consumers are cutting the cord for cable tv. One analyst said that Sky would be an "albatross" for Comcast. Conversely, Disney is up 2% as shareholders breathe a sigh of relief they didn't peruse Sky.