Occidental Petroleum Corporation (OXY) posted better-than-expected numbers for the third quarter of 2009 based on higher sales volumes and lower operating expenses.

Net income from continuing operations was $1.14 per share, higher than the Zacks Consensus Estimate of $1.08. However, net income in the quarter was lower than the $2.77 per share reported in the same period last year.

Daily oil and gas sales volumes increased 6.8%, averaging 628,000 barrels of oil equivalent (BOE) during the reported quarter, compared with 588,000 BOE sold in the third quarter of 2008. Volumes increased by approximately 6% domestically, mainly from California and the Permian, and by about 15% in the Middle East/North Africa, largely in Oman and Dolphin. This was offset by a 6% decline in Latin America, mostly due to a labor strike in Argentina. Increased California volumes resulted largely from the new exploration discoveries in Kern County.

Revenue decreased 41.9% to $4,104

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Despite the low natural gas prices, Royal Dutch Shell (RDS.A) intends to increase its natural gas production in North America. The company has marked its deepwater discoveries in the Gulf of Mexico as well as from giant shale formations in western Canada, the Rockies and the Gulf Coast for this production growth.  While the company declined to say how much the expected North American gas production to grow, it believes that long-term natural gas prices will recover. Royal Dutch Shell has a leading position in natural gas.  The company is the second largest natural gas producer in the world and has led its super major peers in monetizing its substantial worldwide equity natural gas resource base by investing in liquefied natural gas (LNG) and Gas-to-Liquids (GtL) technologies. Royal Dutch Shell has emerged as a clear leader in the fast-growing LNG business.  The group continues to ...

Air Products and Chemicals Inc. (APD) strengthened its industrial gases business by tying up with Korean engineering giant Samsung Engineering Co. Ltd. to supply an air separation unit to National Industrial Gases Co. (NIGC), a subsidiary of Saudi Basic Industries Corp. The air separation unit will produce 3,550 tons per day (TPD) of oxygen, 3,600 TPD of nitrogen and 150 TPD of argon at NIGC’s facility in Al Jubail, Saudi Arabia. The facility will be on-stream in 2011.

Air Products, which supplies oxygen and other gases to industrial and medical sectors, is also building two new air separation units for Shadeed Iron & Steel's production plant in the Sohar Industrial Port of Oman with Saudi firm Abdullah Hashim Group.

Eyes Emerging Market

India is an emerging photovoltaic (PV) market with strong support from the government. Earlier this month, Air Product’s joint venture in India, INOX Air Products Ltd.,

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PennyOmega.com Short Highlights Before the Bell!

PennyOmega.com Short Highlights Before The Bell!

PennyOmega.com Stocks Upgraded, Downgraded and Short Highlights Before the Bell Monday August 24, 2009

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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanoscience solutions, today announced that the Company’s sales are growing rapidly in the Middle East through their established distributor, Nanofan Industrial Coatings, Ltd., in the UAE., Bahrain, Oman and Qatar, and the company’s new distributor, Saudi Environmental Projects Ltd., in Saudi Arabia.

Cisco Systems (NASDAQ: CSCO) will host webcasts in a two part series with senior executives the week of August 24th, 2009 after the close of the market. Cisco will be discussing our Service Provider

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PennyOmega.com Stock Report!

PennyOmega.com Hot Stock News & Alerts!

 

Tuesday August 18, 2009

PennyOmega.com Stock Report!

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Lazard Ltd (NYSE:LAZ) announced today that Tom Tuft, one of the leading bankers in equity capital markets, will join Lazard as Chairman, Global Capital Markets Advisory, and a Vice Chairman, US Investment Banking in November. Mr. Tuft, based in New York, will join Lazard from Goldman Sachs & Co., where he most recently served as Chairman of its Equity Capital Markets group.

UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust (REIT), today announced that it has extended the early tender deadline in respect of its previously announced cash tender offer and consent solicitation (the “Offer”) for its

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National Bank of Abu Dhabi (NBAD), the country’s second-biggest bank by assets ($45 billion), will open branches in Jordan and Hong Kong before the year’s end, given the fact that there exists a strong contingent of citizens from said countries in the UAE. The Bank will also expand into Libya (one branch next year), Oman (three branches by 2010) and Egypt (twenty-two branches by 2013), according to Qamber al-Mulla, senior general manager, International Banking Division, who noted that further growth may lead the firm into the banking sectors of Morocco, Algeria, Lebanon and Turkey. The Bank beat analysts’ estimates earlier this week when it reported a 9.5% drop in second-quarter profit. Moreover, it told Bloomberg that it expects its loan book to grow to 15% in 2009 after a rise of 11.1% between June and December. That said, non-performing loans (NPL) across Gulf banks

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Weak pricing pulls down Weatherford Early today, Weatherford International Ltd. (WFT) reported weaker-than-expected second-quarter 2009 recurring earnings of $0.10 per diluted share, compared to our estimate of $0.18 per diluted share and consensus estimate of $0.16 per diluted share. We have adjusted the reported earnings of $0.06 per share for one-time charges (mainly expenses associated with Weatherford’s withdrawal from some countries and severance costs related to restructuring activities) of $0.04 per share. Earnings for the quarter were significantly lower than the second quarter of 2008 earnings of $0.43 per diluted share. The year-over-year decrease reflects the sharp drop in seasonal activity in Canada and pricing declines in both the U.S. and Canada. Total revenue declined more than 10% year-over-year to $1.99 billion. Of this, Middle East/North Africa/Asia, North America, Latin America, and Europe/West Africa/CIS segments accounted for 30%, 29%, 23%, and 18%, respectively. Revenue ...

For Immediate Release

Chicago, IL - July 7, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: AstraZeneca (AZN), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), AT&T (T) and Verizon (VZ).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday's Analyst Blog:

Big Pharma to See More Deals

In an effort to boost pipelines and offset some of the revenue loss with patent expiry, many drug companies have picked up the pace of acquisitions. We believe many more such deals will happen. This is supported by a new report by Frost

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AT&T extends its overseas reach with Oman dealAT&T (T) has reportedly entered into an agreement with Blue City Company 1, real estate project developer in the Sultanate of Oman, for providing advanced communication services and associated network support for a major infrastructure project in that country. Under the deal terms, both entities will join hands for developing telecommunication services for Al Madina A'Zarqa, the largest real estate infrastructure project in Oman, which is aimed at creating a new city accommodating 200,000 people.Al Madina A'Zarqa, which will encompass an area stretching 32 square kilometers and 20 five-star hotels, is being developed to boost tourism in the Sultanate of Oman and creating a major business center while generating significant employment opportunities for local people. Apart from designing and managing the communication infrastructure, AT&T will also provide ...

Jobs Jamboree gets a lift…  The real numbers…  The dollar comes back with vengeance!  RBNZ to meet this week… And Now… Today’s Pfennig!

Good day… And a Marvelous Monday to you! You know the Jobs Jamboree data that printed on Friday, and created some HUGE euphoria among the media types that love to just “read the news” and not actually do the research to report it? Yes… It was a very good number, on the outside… Not that losing 345,000 jobs in a month is a good thing, but it is far better than the near 700,000 jobs lost a couple of months ago.

So… I’ve got that to talk about today… And the rebound by the dollar that has taken the euro to the 1.38 handle and looking as if it is going to go lower… And, then finally, I have to get on my soapbox again, because I don’t think I want my

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