On Friday, Shares of Chesapeake Energy Corporation (NYSE:CHK), gain 0.46% to $8.65, as falling crude prices put negative pressure on the oil sector.
Crude prices are falling after the Federal Reserve made comments yesterday suggesting that the global economy was not yet healthy enough to raise interest rates.
The oil market had mixed reactions to the decision, according to CNBC, as demand concerns due to a not-yet healthy global economy put negative pressure on the market.
However, a weaker dollar means that buying crude, which is traded in dollars, remains cheap and therefore a potentially attractive investment.
Industry standard Brent crude for November delivery is down 1.77% to $48.21 per barrel while West Texas crude for October delivery is down 3.41% to $45.30 per barrel.
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
Shares of U.S. Bancorp (NYSE:USB), declined -1.40% to $41.06, during its last trading session.
U.S. Bancorp USB is likely to resort to cost cutting initiatives if interest rates do not rise soon. The Minnesota-based bank’s Chief Executive Officer (CEO), Richard K. Davis, revealed such plans at an investor conference in New York on Thursday. Zacks
Davis stated that he predictable increasing revenues from higher rates will ease the pressure of trimming costs. However, he added that that the potential cost cutting moves will enable him to “care less” about whether interest rates rise or not. While he did not divulge any specific details, he mentioned that further information would be released later.
Notably, U.S. Bancorp which is already is known for its lean operations, has a lower efficiency ratio (a metric for expense to revenues) when contrast to several of its rivals. During the second quarter 2015, the company’s efficiency ratio declined to 53.2% from 54.3% in first quarter 2015. Usually, lower ratio is indicative of the improved efficiency of the bank. Zacks
U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.
Shares of Wal-Mart Stores, Inc (NYSE:WMT), declined -1.77% to $63.35, during its last trading session.
Wal-Mart Advanced Vehicle Experience concept truck, a partnership of 22 international companies. It’s also a rolling stock test case for technologies that could revolutionize the way freight is hauled on roads, according to Los Angeles Times.
The partnership began when Wal-Mart approached several firms in January 2011. One was the maker of a heavily patented microturbine motor small enough to fit under the hood of a heavy-duty freight hauler.
“Wal-Mart said they were looking for the truck of the future,” recalled Darren R. Jamison, president and chief executive of Capstone Turbine Corp. in Chatsworth.
“They didn’t want what the technology could look like next year,” Jamison said. “They wanted to look at where it could be five years or 10 years from now.”
Brent Hankins, an advanced concepts engineer at truck manufacturer Peterbilt Motors Co., said growing demand for new solutions was also driving projects like the Wal-Mart concept truck.
Wal-Mart estimates that its WAVE concept truck will reduce fuel consumption by 55% over long routes and by 241% over shorter routes, when its microturbine and electric motor can be put to best use. Los Angeles Times Reports
Wal-Mart Stores, Inc. operates retail stores in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam’s Club. It operates discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, restaurants, apparel stores, drug stores, and convenience stores, in addition to retail Websites, such as walmart.com and samsclub.com.
Finally, Lowe’s Companies, Inc (NYSE:LOW), ended its last trade with -3.28% loss, and closed at $68.14.
Executives at Lowe’s Cos. Inc. asked some very basic questions when they decided to open two small home-improvement stores in Manhattan. Bizjournals.com Reports
Lowe’s (NYSE:LOW) cut down the dimensions of some large products in the NYC stores. Those drywall sheets, which are used in homes and businesses to construct interior walls, were cut down to 4-feet by 6-feet so they can fit into elevators.
Moldings to decorate the base and top of walls and other places in apartments, condos and businesses, were limited to eight-foot lengths for the Manhattan stores.
Lowe’s also launched a Heroes project in Manhattan across the street from the Lincoln Square store. Lowe’s employees refinished 60 to 70 city benches without any charge to the city.
Lowe’s CEO Robert Niblock has said the Mooresville-based company wants to open more stores in urban centers and in Canada together with California and Florida. Bizjournals.com added
“We want to really expand where we’re not,” Luster says. But he’s not going to tell me where the next new small store will open or new markets Lowe’s will enter.
Lowe’s Companies, Inc. operates as a home improvement retailer. The company offers products for maintenance, repair, remodeling, and home decorating. It provides home improvement products under the categories of kitchens and appliances; lumber and building materials; tools and hardware; fashion fixtures; rough plumbing and electrical; lawn and garden; seasonal living; paint; home fashions; storage and cleaning; flooring; millwork; and outdoor power equipment.
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