Rioting breaks out in Venezuela amid 'attempted coup'

April 30, 2019@11:55 PM TFP Editor 0

Demonstrators clashed with police on the streets of the Venezuelan capital Tuesday, spurred by opposition leader Juan Guaido’s call on the military to rise up against President Nicolas Maduro — who said he had defeated an attempted coup. An apparently carefully planned attempt by Guaido to demonstrate growing military support disintegrated into rioting as palls of black smoke rose over eastern Caracas. “This will not go unpunished,” Maduro said in an address broadcast on television and the radio. Read on The Source

Oil prices fall on rising US stockpiles, but global markets remain tense

April 30, 2019@11:51 PM TFP Editor 0

Oil operations in the Permian Basin near Midland, Texas Nick Oxford | Reuters Oil prices fell on Wednesday after a report showed a rise in U.S. crude inventories, but global markets remained tense amid an intensifying political crisis in Venezuela, tightening U.S. sanctions on Iran, and ongoing OPEC supply cuts. Brent crude oil futures were at $71.59 per barrel at 0402 GMT, down 47 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 60 cents, or 0.9 percent, [Read More]

National Oilwell Varco Announces Second Quarter 2019 Conference Call

April 30, 2019@10:09 PM TFP Editor 0

HOUSTON–(BUSINESS WIRE)–National Oilwell Varco, Inc. (NYSE: NOV) will hold a conference call to discuss its second quarter 2019 results on Tuesday, July 30, 2019 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Monday, July 29, 2019. The call will be webcast live on About NOV National Oilwell Varco (NYSE: NOV) is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers’ full-field [Read More]

Chinese Drugmaker Discloses $4.4 Billion Accounting Fraud

April 30, 2019@9:45 PM TFP Editor 0

It looks like China’s unstoppable default tsunami is about to claim its latest corporate victim…and thanks to lax oversight that allowed the company to get away with what appears to be a staggering accounting fraud, thousands of unsuspecting investors might be left holding the bag. According to Bloomberg, Kangmei Pharmaceutical Co., one of China’s largest listed drugmakers, revealed on Tuesday that it had overstated its cash holdings by $4.4 billion. Unsurprisingly, the revelation, which immediately exposed the company to be teetering on the brink of [Read More]

UGI Increases Annual Dividend marking the 135th Year of Common Dividends and the 32nd Consecutive Year of Annual Dividend Increases

April 30, 2019@8:42 PM TFP Editor 0

VALLEY FORGE, Pa.–(BUSINESS WIRE)–The Board of Directors of UGI Corporation (NYSE: UGI) has declared a quarterly dividend of $0.30 per share on the company’s common stock representing a 15.4% increase. The dividend is payable July 1, 2019 to shareholders of record as of June 14, 2019. “We are pleased to announce a dividend increase of over 15%,” said John L. Walsh, President and Chief Executive Officer of UGI Corporation. “UGI is well-positioned for future cash flow and earnings growth, and we are confident that we [Read More]

FOMC Preview: Goldilocks Sets The Stage For Rate HIkes… Or Cuts

April 30, 2019@8:39 PM TFP Editor 0

Tomorrow, at 2pm, the FOMC will leave its rates unchanged. As RanSquawk notes, the Fed will not publish new economic projections at this meeting (the next SEP is released in June), although the market will be closely watching whether the Fed outlines conditions that might compel the Committee to discuss lowering rates. There are some risks that the Fed might tweak its statement to reflect stronger growth and softer inflation since the last meeting, although the market has already priced in a “goldilocks” environment. There [Read More]