On Wednesday, stocks recovered following the worst day overall since October. The gains were led by the technology sector, which in many cases reversed following their worst day of the year on Tuesday.
However, despite the tech rebound, the blue chips lagged pulling the Dow Jones Industrial Average down less than 0.1%. Nike Inc (NYSE:NKE), a Dow component, fell 7.1%, pulled lower by a lackluster outlook for sales growth.
The technology sector of the S&P 500 rose 0.8%, its biggest gain in three weeks. The Nasdaq, which is tech heavy, rose 0.5%, and the 500 jumped chiefly on gains by technology giants Microsoft Corporation (NASDAQ:MSFT), up 1.3%, Apple Inc. (NASDAQ:AAPL), up 1.1%, and Facebook Inc (NASDAQ:FB), up 1.1%. The PHLX Semiconductor Index (NASDAQ:SOXX) did its part by gaining 1.1%.
Crude oil (WTI) fell 0.4% as data showed that stockpiles of crude hit a new record high. Spot WTI closed at $48.04 per barrel for a fall of 11% so far in March.
At the close, the Dow Jones Industrial Average fell 7 points at 20,661, the S&P 500 rose 4 to 2,348, the Nasdaq gained 28 points to close at 5,822, and the Russell 2000 fell a point to 1,346. The NYSE ‘s primary exchange traded 899 million shares with total volume of 3.5 billion shares, and the Nasdaq crossed 1.8 billion shares. On the Big Board, advancers exceeded decliners by 1.1-to-1, and on the Nasdaq, decliners led by 1.3-to-1. Blocks on the NYSE fell to 6,935 from 7,804 on Tuesday.
Top 5 Blue Chip Stocks To Own Right Now: Marathon Petroleum Corporation(MPC)
- [By Stephan Byrd]
Element Capital Management LLC acquired a new position in Marathon Petroleum Corp (NYSE:MPC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,725 shares of the oil and gas company’s stock, valued at approximately $1,515,000.
- [By Logan Wallace]
Media stories about Marathon Petroleum (NYSE:MPC) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Marathon Petroleum earned a news sentiment score of 0.17 on Accern’s scale. Accern also assigned news headlines about the oil and gas company an impact score of 46.2436065193767 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
- [By JJ Kinahan]
Energy was the other S&P sector in the green yesterday, helped by rising oil prices and excitement about the tie up between Marathon Petroleum Corp (NYSE: MPC) and Andeavor (NYSE: ANDV). Devon Energy Corp (NYSE: DVN) was the biggest gainer in the sector, rising more than 5 percent after the company raised its annual production forecast. (See more on oil below.)
- [By Maxx Chatsko]
The combination of pipeline bottlenecks is now dragging down the price of West Texas Intermediate (WTI) crude oil to levels well below that of Brent crude. The difference between the two is called the Brent-WTI spread — and it’s now at levels last witnessed in 2015, and never before 2011. This single metric also explains why oil refinery stocks such as Marathon Petroleum (NYSE:MPC), Phillips 66 (NYSE:PSX), and Delek US Holdings (NYSE:DK) are up by as much as 51% this year.
- [By Logan Wallace]
Investors sold shares of Marathon Petroleum Corp (NYSE:MPC) on strength during trading hours on Friday. $76.54 million flowed into the stock on the tick-up and $428.44 million flowed out of the stock on the tick-down, for a money net flow of $351.90 million out of the stock. Of all stocks tracked, Marathon Petroleum had the 7th highest net out-flow for the day. Marathon Petroleum traded up $0.14 for the day and closed at $72.62
Top 5 Blue Chip Stocks To Own Right Now: PetroChina Company Limited(PTR)
- [By Ethan Ryder]
These are some of the news stories that may have effected Accern Sentiment’s analysis:
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PetroChina Company Limited (PTR) Receives Consensus Rating of “Buy” from Analysts (americanbankingnews.com) PetroChina to spend 5.3 bln yuan on Chongqing gas storage: Xinhua (reuters.com) UPDATE: Bernstein Upgrades Petrochina (PTR) to Outperform (streetinsider.com) Kunlun Energy Company Limited — Moody’s changes Kunlun Energy’s outlook to stable from negative (finance.yahoo.com) PetroChina (PTR) Upgraded at Sanford C. Bernstein (americanbankingnews.com)
Shares of PetroChina traded down $0.85, reaching $82.35, during midday trading on Friday, Marketbeat Ratings reports. The company had a trading volume of 165,409 shares, compared to its average volume of 150,236. The company has a market capitalization of $152.09 billion, a P/E ratio of 46.26 and a beta of 1.43. PetroChina has a 52-week low of $60.69 and a 52-week high of $84.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.55 and a current ratio of 0.82.
- [By Max Byerly]
ILLEGAL ACTIVITY NOTICE: “Somewhat Favorable News Coverage Somewhat Unlikely to Affect PetroChina (PTR) Stock Price” was reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3368551/somewhat-favorable-news-coverage-somewhat-unlikely-to-affect-petrochina-ptr-stock-price.html.
- [By Lisa Levin] Gainers
Shineco, Inc. (NASDAQ: TYHT) rose 34.7 percent to $2.29 in pre-market trading following Q3 results. Shineco posted Q3 earnings of $0.21 per share on sales of $13.3 million.
Carver Bancorp, Inc. (NASDAQ: CARV) rose 15.8 percent to $12.74 in pre-market trading after surging 201.37 percent on Thursday.
LiveXLive Media, Inc. (NASDAQ: LIVX) shares rose 11.5 percent to $7.75 in pre-market trading after climbing 64.50 percent on Thursday.
Eiger BioPharmaceuticals, Inc. (NASDAQ: EIGR) rose 9 percent to $18.30 in pre-market trading after climbing 41.77 percent on Thursday.
AmTrust Financial Services Inc (NASDAQ: AFSI) rose 6.2 percent to $14.25 in pre-market trading after a 13D filing from Carl Icahn shows a new 9.38 percent stake in the company. The filing also shows language from Icahn that strongly opposes a go-private transaction.
Cerner Corporation (NASDAQ: CERN) rose 5.6 percent to $64.02 in pre-market trading after the Department of Veterans Affairs reported an agreement with Cerner Government Services, Inc. to provide seamless care for veterans.
PetroChina Company Limited (NYSE: PTR) shares rose 5.3 percent to $82.05 in pre-market trading.
TC PipeLines, LP (NYSE: TCP) shares rose 5.2 percent to $26.59 in the pre-market trading session.
IQVIA Holdings Inc. (NYSE: IQV) shares rose 4.8 percent to $102.50 in pre-market trading as the company pulled secondary offering 'in light of recent market conditions'.
Axon Enterprise, Inc. (NASDAQ: AAXN) rose 4.5 percent to $59.70 in pre-market trading. On Thursday, Axon priced its 4.3 million share offering of common stock at $53 per share.
The Trade Desk, Inc. (NASDAQ: TTD) rose 4.5 percent to $84 in pre-market trading.
PetIQ Inc (NASDAQ: PETQ) rose 3.9 percent to $18.96 in pre-market trading after a 13G filing shows a new 5.05 percent stake by the State of New Jersey's Division of Investment.
Mattel, Inc. (NASDAQ: MAT) shares rose 3.7 percent to $15.85 in pre-market
Top 5 Blue Chip Stocks To Own Right Now: Noble Energy Inc.(NBL)
- [By Ethan Ryder]
Victory Capital Management Inc. trimmed its stake in Noble Energy (NYSE:NBL) by 0.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,009,700 shares of the oil and gas development company’s stock after selling 4,440 shares during the quarter. Victory Capital Management Inc. owned approximately 0.41% of Noble Energy worth $60,894,000 at the end of the most recent reporting period.
- [By Joseph Griffin]
First Pacific Advisors LLC cut its position in Noble Energy, Inc. (NYSE:NBL) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,540,843 shares of the oil and gas development company’s stock after selling 69,479 shares during the period. First Pacific Advisors LLC’s holdings in Noble Energy were worth $46,688,000 at the end of the most recent reporting period.
- [By Ethan Ryder]
Get a free copy of the Zacks research report on Noble Energy (NBL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Max Byerly]
These are some of the news articles that may have impacted Accern Sentiment Analysis’s scoring:
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Volume Movers: Endo International plc (NASDAQ