FULT: Strong Fee Income Leads to Better-Than-Expected 2Q19 Results; Reducing EPS Estimates Slightly on Declining Rate Environment; Reducing Target Price, Reaffirming Neutral Rating. 2Q19 Results: Fulton reported 2Q19 net income of $59.8 million or $0.35 per share, up...
Fast Facts About Today’s Economic Data U.S. Retail Sales rebounded +1.6% in March and accelerated on Y/Y Basis. Initial Jobless Claims fall for 5th week in a row. Philly Fed Index shows sharp rebound in New Orders. What Brexit? U.K. Retail Sales up +6.6% Y/Y. No...
Fast Facts About Today’s Economic Data U.S. Trade Balance improved once again as China and EU imports plunged in February. U.S. Mortgage Purchase Applications at 9 year high. China Q1 GDP comes in just above expectations (+6.4% Y/Y) thanks to Industrial...
The API reported a 3.1mmb draw (Cushing: 1.6mmb), a 3.6mmb draw in mogas, and a 2.3mmb build in distillates. All-in-all a positive report although the distillate build may not auger well for the natural gas storage. XEC: Charles Robertson, Alden’s Head of Energy...
We would expect additional M&A after Anadarko’s (APC) purchase by Chevron (CVX). Occidental (OXY) possible higher bid for APC according to news reports leaves at least one potential buyer looking. Devon (DVN) and Pioneer Natural (PXD) appear most likely takeouts...
Flat yield curve drives bank stock valuations down, despite signs of continued, though slower, economic growth The outlook for the U.S. economy continues to grow more subdues. We have not heard any predictions of a recession in 2019, but the word is appearing in more...
