• Amazon.com (NASDAQ:AMZN) reported better-than-estimated third quarter earnings of 45 cents, ahead of Zacks estimates of 33 cents as revenues soared 28% to $5.45 billion, up from estimates of about $5 billion. For the fourth quarter the firm said it expects revenues of $8.125-$9.125 billion

• American Express (NYSE:AXP) reported earnings of 44 cents for the third quarter, versus Zacks estimates of 36 cents, as revenues of $6 billion were ahead of estimates of $5.9 billion. Consolidated loss provisions declined 13% to $1.2 billion

• Dover (NYSE:DOV) reported 10 cent better-than-projected earnings of 58 cents a share on inline revenues of $1.5 billion, down 23.7% y/y • Honeywell (NYSE:HON) reported third quarter earnings of 76 cents a share, beating Zacks estimates by 4 cents a share, as revenues of $7.7 billion, off 17%, were below estimates of $7.91 billion

• Ingersoll-Rand (NYSE:IR) beat Zacks estimates by 9 cents on earnings of 70 cents. Revenues

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Here at "A Dash" we often comment about the market, and sometimes about individual stocks.  We always pay attention to market sectors.  A sector approach helps one to find what is working, even in a range-bound market. We study sectors continually, looking at the charts and ratings of hundreds of ETF's.  Each week we provide a list of our top-rated sectors for the next thirty days, along with some of our current observations.  ETF investors can check out the list and compare our findings with their own conclusions. In our analysis, we consider Trends, Cycles, and a bit of Anticipation.  Since we apply the model to nearly 300 ETF's, we call it the TCA-ETF system.  (For new readers, there is a more complete description of our methods at the end of the article.  We also have a free report with more detail on ...

Halliburton (HAL) enjoys a strong competitive position in the global oilfield services market. We like the company’s broad and technologically complex product and service offerings, along with its robust financial profile. Halliburton is among the top three players in each of its product/service category and is present in all major hydrocarbon-producing regions of the world.

The company has a strong international oilfield presence, with the oil-rich Eastern Hemisphere becoming its fastest growing segment. In fact, this region contributed largely to Halliburton’s better-than-expected second-quarter profit of 30 cents per share (above the Zacks Consensus Estimate of 27 cents). Its international operations have held up reasonably well in the downturn and are expected to provide some cushion to the company’s near-to-medium-term performance.

However, Halliburton’s overexposure to domestic natural gas prices remains a cause for concern. Being a global leader in the vital oilfield service, the company remains more vulnerable to

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Recently, I had the unique opportunity to tour two different oil sands operations near Fort McMurray, in northern Alberta. I saw a massive open-pit oil sands mine, and the associated reclamation effort, operated by Syncrude Canada Ltd. I also visited an in situ oil sands recovery project called Surmont, operated by ConocoPhillips (NYSE:COP).

The trip was sponsored by the American Petroleum Institute (API), which paid for the airfare and accommodations. Managers at both Syncrude and ConocoPhillips granted me access to any parts of their operations I wanted to see (within allowances for safety). And everyone answered any and all questions I asked.

Post-trip, I have complete editorial freedom to write about what I saw and learned. And I learned a lot. So this is Part I of a two-part series. Watch for Part II.

The Past and Future of Oil and Oil Sands

The first thing that struck me about visiting

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I had the unique opportunity to tour two different oil sands operations near Fort McMurray, in northern Alberta. I saw a massive open-pit oil sands mine, and the associated reclamation effort, operated by Syncrude Canada Ltd. I also visited an in situ oil sands recovery project called Surmont, operated by ConocoPhillips (NYSE:COP).

When we think about the concept of ’Peak Oil’ today, we need to keep in mind what we’re talking about. The curves show oil output peaking in so many parts of the world. This phenomenon is quite real, as long as you understand that it’s the light, sweet, easy-flowing oil that is getting harder and harder to find, certainly in significant quantity.

But there are a lot of other hydrocarbon molecules out there. Most of those molecules are not light, sweet crude oil. Indeed, most of the hydrocarbon molecules that the world will use in the future will be

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Government budget hits all-time insanity… record monthly, year-to-date deficits… “Cash for clunkers” helps GM, but not economy… July retail sales stage surprise fall… Fed plans exit strategy, ends bond buys… why the FOMC is still not helping you… Byron King’s crude reality: How Canada could be the next Saudi Arabia…

It’s official: Our government ran a record $180.7 billion over budget in July, the Treasury Department said today. That’s just a bit over Wall Street expectations and just under the Congressional Budget Office estimate we reported Monday. Thus the government tab so far this fiscal year is a record $1.27 trillion, not the record $1.3 trillion the CBO guessed earlier this week. Phew… what a relief.

A few more scary details:

The budget deficit is still on track to exceed $1.8 trillion by October, the end of the fiscal year. That would be four times last year’s record budget July spending rose to over ...

Baker Hughes (BHI) reported second-quarter earnings of $0.41 per share, compared with the Zacks Consensus Estimate of $0.45 and a year-ago profit of $1.36 per share.

The significant year-over-year downfall in earnings was due to lower activity levels, severe contraction in customer spending and price deterioration. Including one-time items, Baker Hughes’s earnings were $0.28 per share versus $1.23 per share in the year-earlier quarter.

Segment Performance

Revenue from Baker Hughes’ Oilfield operations was $2.34 billion, down 22% year over year and 12% sequentially. Pre-tax operating profit fell nearly 65% year over year and more than 37% sequentially to $239 million. Pre-tax operating margin for the quarter was 10%, compared to 23% in the year-ago period and 14% in the previous quarter.

Revenue from the Drilling and Evaluation segment decreased 27% year over year and 14% sequentially to $1.12 billion. The segment’s pre-tax operating profit was down 80% year

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National Oilwell Varco (a href="http://finance.yahoo.com/q?s=nov"NOV/a) released pretty solid earnings this morning. This is a company that I've owned a couple of different times, and I like their diversity in the oil space. They are an oil services company that serves offshore platforms (the main reason I liked them in the first place) amongst other areas. Here's their results (a href="http://www.marketwatch.com/story/national-oilwell-varco-net-drops-28-2009-07-28?siteid=yhoof"via Market Watch/a):br /br /blockquoteNational Oilwell Varco said Tuesday its second-quarter net income fell a less-than-forecast 28% as its rig technology business held steady despite a downturn in the oil service business.br /br /National Oilwell Varco earned $220 million, or 53 cents a share, compared to $421 million, or $1.05 a share, in the year-ago period. Revenue was virtually flat at about $1.9 billion.br /br /On an adjusted basis, the Houston maker of drilling-equipment said it earned 90 cents a share compared to $1.04 in the year-earlier period, while ...

• Schlumberger (NYSE:SLB) reported second quarter earnings of 68 cents a share, a nickel above projections, on in-line revenues of $5.53 billion, off 18.1%

• Black and Decker (NYSE:BDK) posted second quarter earnings of 63 cents a share, which beat estimates by 26 cents, on in-line revenues of $1.19 billion, off 27.4%

• Ingersoll-Rand (NYSE:IR) reported second quarter earnings of 50 cents a share, 11 cents better than expected, as revenues increased 12.8% to $3.47 billion.  The company said it sees third-quarter earnings of 55 cents to 70 cents a share, versus estimates of 52 cents; full-year guidance of $1.50-$1.80 exceeded Street estimates of $1.32

• Dover (NYSE:DOV) reported second quarter earnings of 54 cents a share, 8 cents above estimates, on in-line revenues of $1.4 billion, off 30%

• Ashland (NYSE:ASH) reported fiscal third quarter earnings of $1.10 a share, 9 cents higher than projected, on in-line revenues of $2.04 billion, off 7.5%

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U.S. stocks are continuing their upward march on growing belief that the economy is turning a corner as better-than-expected earnings from companies continue to impress investors.  After a four-week retreat, benchmark gauges have leapt forward as the appetite to assume risk has grown significantly.  Safe-havens like treasuries have come under pressure as investors have committed more money into stocks. 

On Thursday, the Dow Jones industrial average gained 188 points, or 2.1%, and closed at its highest point since November 5; the broad-based S&P 500 index rose to its highest in eight months, jumping 22 points, or 2.5% and the Nasdaq surged 47 points or 2.5%, closing higher for the twelfth consecutive session.  The tech-heavy index recorded its best performance since 1992.  Treasuries declined, with the 10-year off 31/32 and the corresponding yield up to 3.665%.

Although much of the earnings growth has been driven by cost-cutting measures, it has

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