Today (Monday), U.S. oil futures hit a five-month high on fallout from the Ukraine conflict, further supported by inclement weather across the United States.
On the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) crude for delivery in April rose to a session high of $104.65 a barrel, the highest since Sept. 23.
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Buoyed by a recovering U.S. economy, Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) posted a record profit in 2013 and is upbeat about the future.
Run by the iconic Warren Buffett since 1965, Berkshire has grown from a textile manufacturing company to now include 80-plus businesses that run the gamut from insurance to railroads to utilities to ice cream. The Omaha, Neb.-based conglomerate consists of some $117.5 billion of a variety of stocks.
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Stock market news today, March 3, 2014: The Dow Jones Industrial Average increased 0.30% to finish at 16.321.71 on Friday. The Nasdaq fell by 0.25% to close at 4,308.12, while the S&P 500 slipped 0.28% to end at 1.859.45.
Winter Storm Titan will continue into the late afternoon today on the East Coast of the United States. Despite today's bout of nasty weather, the markets will remain open in New York.
Here are the five biggest stories moving markets today:
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The troubled Mt. Gox exchange officially filed for bankruptcy today (Friday) in Japan, but this Bitcoin news was so much expected that prices on other exchanges hardly moved.
Bitcoin prices on most major exchanges briefly dipped about 5% on the news, but recovered quickly. The composite Bitcoin price on CoinDesk was $565 at midday, down less than 2% for the day.
Activist investor Carl Icahn poured the pressure on eBay Inc. (Nasdaq: EBAY) Thursday in his third scathing open letter to eBay shareholders.
In what has become a wicked war of words between the corporate raider and the online auction and shopping site, Icahn continued to press eBay to spin off its electronic payment arm PayPal, maintaining the unit is worth more as a standalone.
The billionaire investor also wants the San Jose, Calif.-company to overhaul its corporate board. Icahn, who holds a 2.2% stake in eBay, continued to reproach the company for a "complete disregard of accountability" and took further jabs at board members.
This year has been hard on markets. In January alone the S&P 500 was down 3.6% and the Dow Jones Industrial Average dipped 5.3%.
But during this period LNG stock news has pushed the sector higher.
Here is a brief look at this bullish LNG stock news of 2014.
China is a big factor in LNG stock news this year.
China has increasingly been in demand for natural gas. That's why the United States plans to approve more construction export facilities, which can send LNG to energy hungry Asia.
LNG stock news 2014: LNG stock prices are estimated to soar 118% compared to last year, bringing Cheniere Energy Inc. to the top of the investment list.
However, this might be only the start of the fireworks, especially if we refer to Cheniere, which is known as one of the largest liquefied natural gas-related energy company in Houston, Texas. Apparently, Morgan Stanley predicted an overgrowth in the LNG stock price this year, with over a 30% gain compared to its current price of $45.76. Morgan Stanley included in the financial forecast they released on Jan. 7, 2014 that Cheniere might get as much as $129 a share during this year.
With Middle East tensions calming, gas prices stabilizing, and hydraulic fracturing expanding at a meteoric clip, LNG stock news is quite positive, as investors flock into this thriving sector.
Dynagas LNG Partners LP (Nasdaq: DLNG), whose IPO went live just three months ago, reported fourth-quarter income of $11.0 million (up 25% from fourth quarter 2012) and annual income for 2013 of $45.6 million. Its first dividend, pro-rated to the IPO date, was $.17 per share, or $1.47 per share annualized from present income. This sizable dividend supports the market's bullish reaction to this newly-traded stock, which has soared 20% from an $18 IPO to $22.30 as of closing Feb. 24. This stock's rapid ascendency combined with the partnership's income statement make it one to watch closely over the coming months.
3D Systems Corp. (NYSE: DDD) reported Q4 2013 earnings Friday morning before opening bell. One key thing to note: The results are not indicative of the massive potential of this company.
While this innovative provider of three-dimensional (3D) content-to-print solutions is having a rocky start in 2014, it's a good long-term investment.
Here's a closer look at where DDD is headed.
He's the man behind Tesla Motors Inc. (Nasdaq: TSLA), SolarCity Corp. (Nasdaq: SCTY), and PayPal, but despite his fame, many still ask themselves "Who is Elon Musk?"
The quote from Musk's 2013 "TED Talks" interview gives a glimpse of the $7 billion man and what has driven him in his career.
"It goes back to when I was in University, I thought about what problems are most likely to affect the future of the world," Musk said. "I think it's extremely important that we have sustainable transport and sustainable energy production. That overall sustainable energy production is the biggest problem we have to solve this century."
That forward-thinking attitude is what has led Musk throughout his career...
