Diamonds and Dogs
Value hunting in the oil space. Oil and gas producer, Concho Resources (CXO) is up 12% lifting the sector on speculation ConocoPhillips is looking to acquire their oil and gas assets in the productive Permian Basin, with operations concentrated specifically in the Delaware and Midland Basins.
The big banks missed on earnings. Bank of America (BAC) and Wells Fargo (WFC) are both lower by 4% following lackluster earnings and sales. One step forward, one step back. Multiplex operator, AMC Entertainment (AMC) is down 17% on speculation the company is considering a potential bankruptcy filing due to the fact the company will run out of money by the end of the year.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.