Third-quarter earnings season officially starts on Wednesday afternoon with Alcoa's (AA) report. The aluminum maker is expected to announce revenues of $4.5 billion and a loss of 11 cents per share. The results will look awful compared to last year because the commodity bubble peaked in Q308.

Joining AA will be 6 other S&P 500 members: Costco (COST), Family Dollar (FDO), Marriott (MAR), Monsanto (MON), Pepsi Bottling (PBG), PepsiCo (PEP) and Yum! Brands (YUM). We have confirmed scheduled reports from a total of 24 companies.

Economic data will largely take a backseat to the earnings news. There is comparatively little on the calendar, with the most newsworthy release being the September ISM services index. The weekly energy and mortgage applications reports could still influence trading, however.

Monday: September ISM services survey Wednesday: August consumer credit, September treasury budget, weekly crude inventories, weekly mortgage

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Tuesday September 1st, 2009

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Atlas Oil and Gas, Inc. (OTCBB:AOLG), which focuses on the potential for major exploration and production reclamation projects in the oil and gas sector, today received approval from the Financial Industry Regulatory Authority (FINRA) to change its corporate name to Cheyenne Resources Corp., and its trading symbol to CYRS on the

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Avalon Oil & Gas, Inc., an independent domestic producer/investor of oil and natural gas, announced last month that it has received its first check for gas revenues from Scissortail Energy, an Oklahoma based provider of natural gas midstream services. The payment is for natural gas produced in the East Chandler Field in Lincoln County, Oklahoma, northeast of Oklahoma City, encompassing various wells in which Avalon holds partial interest. It represents the continuation of a climb in revenues for Avalon over the past year, with more expected.

Avalon is an investment company that acquires oil and gas producing properties. In addition, the company’s technology group acquires and develops various oil production technologies. Avalon, through its majority owned subsidiary Oiltek, is building an asset portfolio of innovative technologies to enhance the company’s oil and gas properties. The strategy is to use efficient reservoir maintenance and

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Helix Wind, Corp. announced that it has signed a joint distribution agreement with Synergy California LP to deploy small wind vertical axis turbines designed, developed and manufactured by Helix Wind. For the initial major project, they will deploy 25 Helix Wind S594 Systems at the Oklahoma Medical Research Facility in Oklahoma City, Oklahoma. Ground-breaking ceremonies were held last month at the Medical Research Facility.

“The strategic distribution agreement with Synergy California moves small wind into the mainstream of new urban development projects by providing efficient electrons with an elegant esthetic view,” stated Helix Wind Chairman & President Scott Weinbrandt. “Providing a solution to reduce the cost of traditional carbon based fossil fuel is a huge step forward in reducing carbon footprint in major cities. The deployment of Helix Wind turbines in support of a major research center in an urban setting is a key milestone for us, and we are

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The markets had a bad day, as the Dow Jones closed down -0.19% to 8,410.65.  The NASDAQ was down -0.54% closing at 1754.12, while the S&P was down -0.38% closing at 903.80.  Oil and gold were both down settling at $53.84 and $904.30 respectively.  The price of the 10-year was down, as yields closed at 3.163%. 

According to many unnamed sources, American International Group [AIG: 1.73, +0.27 (+18.49%)] will not be one of the supposed ten to nineteen financial institutions that the U.S. government will announce need to raise capital levels.  AIG is expected to report a loss of $0.06 a share on revenue of $26.17 billion this coming Thursday.  In addition to AIG, it is believed that Goldman Sachs [GS: 135.20, +1.04 (+0.78%)] and JP Morgan [JPM: 34.82, -0.97 (-2.71%)] also have enough capital to weather a worsening economic situation.  The government stress tests, which

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Five more SRI-themed ETFs are proposed, each focusing on specific religions and different sets of beliefs.

 

The market for socially responsible investing continues to grow for exchange-traded funds investors. Now, a group based in Oklahoma City, Okla., is proposing a set of faith-specific ETFs to launch in the near future.

FaithShares Inc., which is advised by FaithShares Advisors, is asking the Securities and Exchange Commission for approval to offer five new SRI-themed ETFs. Those would be:

The FaithShares Baptist Values Fund The FaithShares Catholic Values Fund The FaithShares Christian Values Fund The FaithShares Lutheran Values Fund The FaithShares Methodist Values Fund

So far, just two SRI ETFs are available on the market, both sponsored by Barclays Global Investors. Those are the iShares KLD 400 Social Index (NYSE: DSI) and the iShares KLD Select Social Index (NYSE: KLD). The first came out in 2005, and the second at the end of 2006. Combined, both have more

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Late last month, Precision Petroleum Corp. announced the conclusion of an agreement to explore 10 leases in the State of Montana. To proceed with this program, the company has retained Ramsey Engineering, a petroleum engineering firm in Oklahoma City, to conduct an engineering survey to identify and advice on a possible seismic project as well as provide input on the optimal drilling locations. Precision Petroleum anticipates conclusion of the study within 60 days.

Richard Porterfield, Petroleum Geologist and President of Precision, noted the importance of the survey as it will enable the company to proceed with minimum risk and to focus on the pre-eminent structures identified by the Ramsey study.

Precision Petroleum Corporation is an independent energy company focused on acquiring, exploring and developing oil and natural gas properties in the United States. The company is dedicated to seeking out and developing low-risk opportunities in the oil and natural gas

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Due to tightening credit markets and declining energy prices, Chesapeake Energy Corporation (CHK) today announced a reorganization of its Eastern Division Operation in Charleston, WV.

The move, which will transform the division from a regional corporate headquarters to a regional field office, will involve moving (to Oklahoma City) or eliminating 215 out of 255 position in the area.

The reorganization, which will be completed on Jun 30, is being made to optimize CHK's operational performance, and will also provide cost savings over time.

Through this move, CHK, which is the country's largest natural gas producer, will consolidate management for a number of Eastern Division departments into its corporate offices in Oklahoma City. Severance packages and employment outplacement services will be provided to the employees affected.

Shares of the company are up approximately 2% today. CHK is a Zacks #3 Rank ("hold") company. The Zacks Rank covers a period

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Instead of unloading small-cap and value stocks, portfolio manager is sticking to his guns. But he's shifting into TIPS and away from Treasuries.

 

Tim Courtney admits that financial markets do tend to break down from time to time.

A prime example, says the Oklahoma City, Okla.-based portfolio manager, is what's going on today in markets across the globe.

"But markets have proven to be efficient enough over the longer-term to dissuade us from trying to time a recovery or squeeze any possible excess losses by using individual stocks," said the chief investment officer for Burns Advisory Group, which is headquartered in Oklahoma but has offices in California and Connecticut as well.

Courtney used to work with large institutional investors at Fidelity Investments on developing retirement plans and asset allocation requirements. He joined John Burns, who started the business and serves as its chief executive, in 1997.

These days, Courtney is

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Gulfport Energy had the profitable combination of rising production and higher crude and natural gas prices in the second quarter as the company surprised on estimates by 25%. It has surprised on estimates the last 2 quarters by an average of 33.5%. Gulfport's forward P/E is 6.24.

Company Description

Gulfport Energy Corporation (GPOR) is an independent oil and natural gas exploration company headquartered in Oklahoma City. The company has properties in the Louisiana Gulf and the Permian Basin in West Texas.

Gulfport, a Zacks #1 Rank (Strong Buy), is also active in the Alberta Oil Sands through a 25% interest in Grizzly Oil Sands ULC. Grizzly is a major player among the independents in the oil sands, with the second largest land position in Alberta with 511,765 net acres of oil sands leases, all of which are owned and operated by Grizzly.

GPOR is also participating in

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