Big Oil, Big Mistake: Investors Overpay for Income at Exxon


A huge week of earnings releases – filled with lowlights (Apple and Twitter) and highlights (Facebook and – finishes up Friday with first-quarter results from oil giants Exxon Mobil and Chevron.Oil companies around the world have been battered by a price crash that has left crude and natural gas stubbornly low. “We’re constructive on oil and gas demand”, Mr. Woodbury said Friday. A large portion of oil’s recent gains is fueled by weakness in the USA dollar. The massive plunge was driven by the significantly low commodity prices, along with the weaker refining margins, which were counterbalanced by the strong chemical results.Not every company followed the trend. The U.S. Upstream operations recorded a loss of $832 million, compared to a loss of $52 million in the first quarter of 2015. Recently, stock has been recommended as “Buy” from “2” analysts and “0” analysts suggested as “Sell” for the company. The institutional investor held 672,754 shares of the integrated oil company at the end of 2016Q1, valued at $56.24 million, up from 543,826 at the end of the previous reported quarter.For the past six years, USA refiners from Texas to Philadelphia have bought every barrel of crude they could lay their hands on to cash in on a golden era of healthy margins.”Investors are really focused on where things are heading, and that is higher oil prices”, said Brian Youngberg, an analyst with Edward Jones. Exxon has managed to stay profitable, reporting $16.1 billion in net income a year ago. The company said it had a profit of $0.43 Earnings per Share for the quarter. Among analysts who follow the company, Exxon has eight buy rating, 13 holds and six sells. Their upstream exploration and production units have been reeling for months from the crude price crash. Refining has been among the only profitable businesses in the industry since prices began to fall precipitously in 2014. Foreign exchange cut earnings by $319 million in the latest quarter and boosted them by $580 million a year ago.While the cost-slashing has helped oil and gas producers protect their balance sheets, it has had a devastating impact on another part of the business – the oil-field services providers that drill and pump wells. There were about 49.04M shares outstanding which made its market cap $199.11M.Estimize is expecting a higher number of $48.14 billion. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed.Exxon Chief Executive Officer Rex Tillerson cited the company’s large size and cash flow for helping it weather the low prices.

David Luiz, Marcelo, Thiago Silva left off Brazil’s Copa America roster


Coach Dunga will announce his final 23-man squad for the tournament in the United States at a press conference next Thursday, the Brazilian football confederation said on Friday, reports Xinhua.Interestingly, our January target Alex Teixeira also features – the attacker we courted openly only to be pipped to the post by billionaire Chinese outfit Jiangsu Suning. The 26-year-old has already represented his country at youth level, and showed his precocious talent by scoring 13 goals in 18 matches for Brazil’s Under-17s in 2006 and 2007. David Luiz had replaced Neymar as Brazil’s face on Copa America promotional material after it was made clear the Barcelona star would only play in the Olympics this summer.And there was no place for Paris Saint-Germain defender David Luiz, who was omitted after a series of sub-par performances for the team.With the well-known veterans absent, a number of young domestic stars yet to earn their first senior caps stood out: Attacking players Gabriel “Gabigol” Barbosa of Santos, Gabriel Jesus of Palmeiras, Luan of Gremio, as well as Atletico Mineiro left-back Douglas Santos, and midfielders Walace of Gremio and Sao Paulo’s Rodrigo Caio.Brazil captain Neymar will only dispute the 2016 Olympic Games this summer.Brazil will begin their Copa America campaign against Ecuador in Pasadena on 4 June. They will then meet Haiti in Orlando on 8 June and Peru in Boston on 12 June.

Volkswagen bill for repairs, buybacks: $8.8 billion


 German carmaker Volkswagen has more than doubled its provisions to pay for the emissions scandal that erupted last September, setting aside more than $18 billion, which led to the biggest loss in its history.Matthias Müller, the chief executive, apologised for the installation of software in 11 million diesel cars worldwide that was created to fool emissions tests. Western European sales climbed 3.5%, though a drag from the emissions scandal kept growth short of the market average. The beleaguered carmaker is facing a $9 billion buy back of its diesel vehicles.”Volkswagen is far more than crisis”, Mueller said.Chief executive Matthias Mueller apologised for the firm’s actions.The company said bonuses for individual top managers were 40 percent lower than they otherwise would have been because the company made a loss past year, even before the decision to withhold another 30 percent. The company’s 12 brands are a source of strength, he said, denying that any would be sold off. “But we are of course thinking about “what if” and in that sense we are preparing ourselves”.Mueller shed more light on the VW unit stumbling to a loss, the European recall dragged out in delays, and the USA regulatory deal that’s still far from sealed.On Thursday, Volkswagen also provided details on the loss it reported last week.Detailed results on Thursday showed its mass-market VW brand bore the brunt of the scandal, while upmarket brands Audi and in particular Porsche continued to fare well.The company said it now expected long-term cost savings from its efforts to align truck brands MAN and Scania of as much as €1 billion a year, up from a previous target of €850m. The company cited weak markets in Russian Federation and Brazil as a contributory factor.The scandal has already caused the company’s share prices to plummet. They have a “buy” rating on the stock, which was down 0.4 percent at 1135 GMT.The changes have triggered a dispute with the powerful union leaders who occupy about half the seats on VW’s supervisory board.But Mueller repeated on Thursday that Volkswagen was not planning to offer Europeans compensation. Finance director Frank Witter said that the company would not propose any capital increase to shareholders at its annual meeting in June.Nevertheless, it is commendable that Volkswagen is now seeking to make further amends by emphasising digital car-sharing services and throwing its muscle behind zero-emissions cars.

Clinton obtiene 91% de delegados demócratas — LO ULTIMO


Este martes, Hillary Clinton disputaba voto a voto con el senador Bernie Sanders las primarias de Pensilvania, Connecticut y Rhode Island.

Trump agregó que Clinton nunca habría llegado tan lejos en la campaña de no ser mujer: “Si Hillary Clinton fuera un hombre, no ganaría ni el 5% de los votos.”.

Para el controvertido magnate y gran aspirante a ser el nominado republicano, la ex secretaria de Estado no tiene condiciones para el cargo y dijo que sería una “presidenta terrible”.

Respecto a la contienda en el Partido Demócrata, Hillary Clinton se alzó con la victoria en cuatro estados, incluyendo Pennsylvania, que era el premio mayor.

Trump necesita ganar el 63 por ciento de los delegados en los estados que quedan por votar, incluidos los de este martes, si quiere garantizarse la nominación republicana, según las proyecciones del diario The Washington Post.

Clinton insistió en que la propuesta del empresario no aumentará las oportunidades ni reducirá las desigualdades entre los estadounidenses.

Lo de Trump fue visto como una exhibición imponente por el Noreste que lo mantiene como el favorito hacia la candidatura, aunque con poco margen de error.

Cruz y Kasich anunciaron recientemente una alianza contra Trump.

El polémico millonario arrasó este martes al imponerse en las primarias Republicanas de Delaware, Rhode Island, Pensilvania, Maryland y Connecticut.

En Rhode Island, la única victoria que pudo cantar Sanders, el senador se impuso por más de 13 puntos. Pese a la desventaja matemática, Sanders seguirá en la carrera hasta julio cuando se celebrará la Convención del partido. Sin embargo, con estas últimas victorias, Clinton pareció confirmar su candidatura.

Había 172 delegados republicanos en juego, y 384 delegados en disputa del lado demócrata. De esta forma, subió el número de sus delegados a 1.640. está previsto que Clinton pueda obtener el número necesario en las primarias de mayo y junio.

“Refleja las complejidades que enfrenta la economía” — Bachelet por desempleo


“Hemos conocido las cifras nacionales de desempleo del Instituto Nacional de Estadísticas (INE) y antes habíamos conocido los datos del Gran Santiago”.

Durante la ceremonia de promulgación del convenio 189 de la Organización Internacional del Trabajo (OIT), que promueve el trabajo decente de trabajadores de casas particulares, la Presidenta Bachelet señaló que el fallo contrario a la titularidad sindical del Tribunal Constitucional (TC) afecta el cumplimiento de compromisos internacionales.

“Eso es parte de lo que está pasando hoy día, pero también que la economía requiere crecer más para generar más empleo”, por lo que insistió en que “seguir trabajando para que la economía crezca es un punto central en nuestra agenda, es una prioridad política, si no la número uno, de las más importantes“.

“Pondremos todas las capacidades del gobierno al servicio del empleo y el bienestar de nuestros compatriotas, más allá de las dificultades mi compromiso va a ser siempre el mismo: proteger y promover los derechos, la dignidad y oportunidades de los trabajadores y trabajadoras (…)Es la hora que todos rememos en la misma dirección por el bien del país”, finalizó Bachelet.

La jefa de Estado sostuvo que para ello el país cuenta con “fundamentos económicos sólidos y una tradición de seriedad y responsabilidad fiscal”.

“Como Gobierno hemos tomado una serie de medidas para incentivar las inversiones, elevar nuestra productividad, hemos recibido propuestas empresariales, de grupos de trabajo y pronto recibiremos también de la CUT”. “No cualquier empleo, sino empleo decente, digno y de calidad, un empleo con diálogo social”, agregó.

NFL Draft: How Kaepernick, 49ers are affected by Denver’s QB pick


Baalke confirmed that the 49ers are moving forward with the guys now on the roster and called Kaepernick a “big part of it”.”Hands-down”, as Quinn put it – to Paxton Lynch, who went 26th overall to the Denver Broncos after John Elway traded up with the Seattle Seahawks. Lynch is a ideal pick to be the signal caller of the future for the Broncos with many of his attributes, including an ability to throw on the run, exactly what the team covets. “But the opportunity that presents itself here with these other quarterbacks and this coaching staff is probably the best situation I could have ended up in”, Lynch said.Day one of the National Football League draft was an exciting day for the Dallas Cowboys, selecting Ezekiel Elliot and bolstering an already formidable offense…when Tony Romo is healthy.In case there was any doubt about it, the Denver Broncos’ top selection in the 2016 NFL Draft – Memphis QB Paxton Lynch – will wear jersey no. 12 with his new team.That all but eliminates the idea of Bradford as a Bronco as well; besides, the Eagles have repeatedly stated that they view Bradford as their starter and aren’t looking to trade him.But anyone can wait three to five years to look back and state the obvious. “Kind of like when you get recruited out of high school to go to college, you walk in and you know that’s where you’re going to be for hopefully all four years”.While fans fretted for the last two months about who would lead the Broncos’ Super Bowl title defense, Elway stayed patient, explaining he had faith in Sanchez and Siemian and also wanted to keep his options open.The Broncos brought in Mark Sanchez as a veteran free agent, but Denver brass expects Lynch to prove worthy of the pick in practice.”The thing that’s really exciting is that this guy extends plays, ” Kubiak said.But Kubiak declared Thursday night that Lynch would be in the mix to start, and expects he can make a push for that role. “I thought it was a great visit”.”You’re right”, Elway said. “But I’m glad I’m on a team now, and I’m ready to get up there and get to work”. Both quarterbacks are going to be given a fair shot, but it is also fair to believe that Lynch will end up winning the job and will be the Broncos’ starting quarterback.

Bombardeos alcanzan un hospital en Alepo


Grupos de la oposición controlan la parte oriental de la ciudad pero se han visto acorralados por las fuerzas del gobierno y su vinculación con las afueras está limitada a un estrecho corredor por el noroeste.

Según el Observatorio Sirio para los DD.HH., una entidad con base en Londres que informa a partir de una red de emisarios sobre el terreno, 84 civiles han muerto en bombardeos aéreos durante los últimos seis días, mientras que, en el mismo período, 49 civiles murieron en zonas controladas por Asad debido a bombardeos de brigadas alzadas.

Ataques aéreos sobre zonas rebeldes de Alepo destruyeron un hospital y mataron a decenas de personas, entre ellos niños y médicos, una ofensiva que funcionarios estadounidenses atribuyeron al Gobierno de Siria. En esta última zona, al menos un menor falleció y otras cinco personas resultaron heridas por los bombardeos, informó la agencia de noticias EFE.

En un comunicado, la ONG recordó que esta no es la primera vez que el centro médico atacado, el hospital de Al Quds, es golpeado por las bombas, ya que en el pasado había sido destruido parcialmente en varias ocasiones, la última en 2015.

Ataques en la ciudad de Aleppo, Siria, han dejado al menos 34 muertos y docenas de heridos, a pesar de la tregua parcial que existe en este país que se encuentran en guerra civil.

Anoche, al menos 27 personas perdieron la vida en un bombardeo contra el hospital Al Quds, situado en el barrio de Al Sukari, en el este de Alepo, de acuerdo a los datos del Observatorio.

En tanto, las fuerzas del ejército sirio lanzaron un ataque aéreo contra una clínica en el distrito de Marja, controlado por los rebeldes, convirtiéndose en el segundo centro médico impactado en el transcurso de una semana.

Los ataques en los barrios rebeldes causaron el viernes al menos dos muertos, una mujer y un niño, según un balance a media mañana del Observatorio Sirio de los Derechos Humanos (OSDH). Entre los fallecidos estaba uno de los pocos pediatras que quedan en la parte rebelde de la disputada ciudad.

Trump and Clinton win big

“I consider myself the presumptive nominee, absolutely”.That’s how many delegates are needed to win the Republican nomination. Trump noted the “strife” over the new law, including businesses threatening to move or curtail operations in the state. “The other day, Mr. Trump accused me of playing the, quote, ‘woman card, ‘” she said, referring to Republican front-runner Donald Trump. “I’ve never seen a human being eat in such a disgusting fashion”, Trump thundered.With Cruz’s organizational roots in the state, a challenge for Trump will be breaking into the party establishment to line up as many supporters as possible in congressional districts he needs to win in June.”He’s done a very, very good job as governor”, Trump said.Sen. Orrin Hatch of Utah, a respected senior member of the Senate, previously endorsed Jeb Bush and then Sen.”Ted Cruz pulled out of OR, and John Kasich is the only one that can stop Trump and defeat Hillary Clinton in the fall”, the narrator says, neglecting to mention that the Texas senator did that in return for Kasich pulling out of Indiana.Following a campaign night marked by unruly “Dump Trump” protests outside a campaign rally near Los Angeles, the candidate will be in much friendlier territory when he steps on the podium as the keynote speaker for a luncheon that has been sold out for weeks.Trump has high negative ratings among women, which he must lower to have a chance in November.Hatch, along with others, disagreed.”I think he’s so steeped in his bombastic persona that it will be hard for him to stick to a presidential, canned message”, she said.So it may not be a surprise that voters this year – Republican and Democrat are dubious that the current system has generally produced the best candidates.”He’s looking more inevitable, yeah. I’ve been wrong all along”, said GOP Sen. Jeff Flake of Arizona, an outspoken Trump critic. “A ban on Muslims, build a wall and make the Mexicans pay for it, you name it”. Though the businessman must keep winning primaries in order to clinch the nomination before this summer’s national convention – he needs 48 percent of delegates still up for grabs – he has breathing room to start making overtures to general election voters. Ted Cruz is hoping to push the race to a contested convention. Kasich seemed to quickly backtrack and Cruz later downplayed the whole coordination idea.On Capitol Hill, Cruz remains an unpopular figure, having disparaged party leaders and led the charge to force a 16-day partial government shutdown in 2013 in a futile attempt to cut off money for President Barack Obama’s health care law. Sanders issued a statement late Tuesday night, saying his campaign would continue but suggesting it was more focused now on the “fight for a progressive party platform…”Perhaps partly because of Cruz’s unpopularity, it’s getting easier to find leading lawmakers speaking publicly in favor of Trump. On Thursday, Trump picked up endorsements from House committee chairmen: Bill Shuster of Pennsylvania, who chairs the Transportation Committee, and Jeff Miller of Florida, who chairs Veterans Affairs. They should be Cruz allies, but they’ve been told that they are sellouts, squishes and disloyal conservatives, so they struggle to give him their support.With the general election in his sights, Republican Donald Trump delivered a sober foreign policy address Wednesday aimed at easing fears about his temperament and readiness to be commander in chief.”The people have spoken”.

Dee Gordon releases statement on PED suspension

That became the Miami Marlins’ reality Friday, when MLB announced that all-star second baseman Dee Gordon, the reigning National League batting champion, would be suspended 80 games after dropping his appeal following a positive test for two banned substances.In a statement released by the MLB Players Association, Gordon apologized and said he was not aware of using performance enhancing drugs. “It is a huge, huge disappointment to the kids, to our fans, to his teammates and to everyone in our organization who works hard every single day to put a product on the field and off the field that all Miamians can be proud of”. I have been careful to avoid products that could contain something banned by Major League Baseball and the 20+ tests that I have taken and passed throughout my career prove this.Gordon tested positive for exogenous Testosterone and Clostebol. He’s behind in the count.It seems simple to Detroit Tigers starter Justin Verlander, who didn’t seem to be happy that Miami’s Dee Gordon was allowed to continue playing after testing positive for PEDs because he was appealing.Gordon, 28, was among the fastest players in professional baseball whose bat kept him from sticking in the major leagues. “Definitely shocked and surprised”. “We’re going to love him through this process and love him any way we can”.He and Marlins manager Don Mattingly were together with the Dodgers for four years, but the 5-foot-11, 170-pound Gordon didn’t become a regular in Los Angeles until 2014. “I made a mistake and I accept the consequences”.Just three months ago, he signed a contract extension with the Marlins that’s worth $50 million over the next five years.The news of Gordon’s suspension broke in the wee hours of Friday morning with the Major League Baseball press release going out at 1:18 a.m. Gordon, his agent, and the Miami Marlins said the things you would expect them to say about this. “That said, I don’t like or condone what he did”. He is an important member of this organization and will be for many years to come. “It’s too easy for guys to serve a suspension and come back and still get paid”.

Pope Francis: ‘Happiness has no price,’ pontiff tells teenagers


Speaking to thousands of young people gathered in Rome on Sunday, Pope Francis talked about love and happiness, saying that love is the “Christian’s identity card”, and is “the only valid “document” identifying us as Christians”. He told them that if there is no Jesus in their lives, then there is no signal, just like that of a mobile phone.

“Those who are not real and genuine and who speak of love are like characters is a soap opera, some fake love story”, he said. True freedom could only be found in the love of Jesus.

But he said there is a way to overcome that difficulty. “He will point you ever higher, and pick you up whenever you fall”, he said.

Jesuit Father Federico Lombardi, Vatican spokesman, said the pope “listened to the confessions of 16 boys and girls”, spending more than an hour in the square. “There is always a temptation to let our affections be tainted by an instinctive desire to take, to have what we find pleasing; our consumerist culture reinforces this tendency. Jesus wants us to be up on our feet!” Pope Francis concluded the mass by remembering the people who have been kidnapped in Syria. “Enthusiastically practice them, so as to be champions in life, champions of life!” Friendship with Jesus means you are never alone.

The Pope has warned teens to stop looking for happiness on their phones.

He reportedly told the teens during mass (and there’s a sample on an Instagram post): “Your happiness has no price”. “It can not be bought”. It can not be bought and sold: it is not an application you download on a mobile phone.

The freedom that comes from love, he continued, does not come from “doing whatever you want”, which only makes people “self-centered and aloof”, but is a gift that comes from “being able to choose good”.

The Jubilee for Boys and Girls, which is the latest initiative for the Jubilee Year of Mercy, is directed specifically towards young teenagers.

Pope Francis added that freedom can not be bought neither does happiness have a price. Pope Francis addressed the young people during the rally via a video message. It does not come from things that you possess.

The first day of the celebration ended late April 23 with music and testimonies at Rome’s Olympic Stadium for an estimated 70,000 youth.