The stock market dropped after final week’s unemployment report for one reason, and one reason only. However when steering was in line, it was understood that that they had really beaten the whisper quantity by a cent after reporting first quarter results at $0.36 a share… and shares traded again to about even (and had been optimistic the next day).
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Canadian oil sands producers having fun with the strongest market for heavy crude since 2008 may be about to face a renewed glut , as Suncor Power (NYSE: SU ) expects its Fort Hills oil sands mine to begin producing by 12 months end, reaching as much as 175K bbl/day within a yr, while Imperial Oil’s (NYSEMKT: IMO ) Kearl mine is about to return on-line from planned upkeep.
Cobalt International Energy ( CIE -three.four%) slumps to a brand new document low of $1.10 after saying it was warned by the NYSE that it is no longer in compliance with continued listing standards and might be delisted as a result of the general value of its shares has dropped under the alternate’s $50M minimum market cap threshold.
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