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Intel cuts forecast as China data center sales remain weak

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(Reuters) – Chipmaker Intel Corp on Thursday cut its full-year revenue forecast and missed analysts’ estimates for first-quarter sales for its higher-margin data center business, sending its shares down as much as 7.5%. FILE PHOTO: The Intel logo is shown at E3, the world’s largest video game industry convention in Los Angeles, California, U.S. June Read More

Dril-Quip, Inc. Announces First Quarter 2019 Results

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HOUSTON, April 25, 2019 (GLOBE NEWSWIRE) — Dril-Quip, Inc. (NYSE: DRQ) today reported operational and financial results for the first quarter 2019. Key highlights included: Recorded first quarter 2019 revenues of $94.3 million, near the midpoint of the guidance range Increased non-project bookings to $99 million in the first quarter of 2019, which is the Read More

Amazon raises spending to accelerate Prime delivery speed to one day

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(Reuters) – Amazon.com Inc on Thursday trounced first-quarter profit estimates as demand for its cloud and ad services soared, but the company indicated that bigger spending was in store as it worked to turn its loyalty club Prime into a one-day shipping program. FILE PHOTO: The logo of Amazon is seen at the company logistics Read More

Nigeria plans to double crude oil production, triple refining in bid for self-reliance

2 hours ago DieselGasoil Comments Off on Nigeria plans to double crude oil production, triple refining in bid for self-reliance
By Paul Wallace and Elisha Bala-Gbogbo on 4/25/2019 Erha North. Photo: Aveon Offshore. ABUJA (Bloomberg) — Nigeria plans to almost double oil production and triple its Refining capacity by 2025, reviving previous pledges for the country’s oil independence. The OPEC member is looking to pump 4 MMbopd by 2025 and increase Refining capacity to 1.5 Read More

Facebook users care less about privacy than regulators

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(Reuters) – Facebook Inc is preparing for a record-setting fine from U.S. regulators over privacy issues, but Wall Street shrugged at the looming penalty after the company added users and trounced profit expectations for the first quarter. FILE PHOTO: Small toy figures are seen in front of Facebook logo in this illustration picture, April 8, Read More

Southwest Airlines says bookings strong even as 737 MAX grounded

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(Reuters) – Southwest Airlines Co forecast better-than-expected second-quarter revenue growth on Thursday, citing demand from leisure and business customers, even though it is uncertain when its grounded Boeing 737 MAX jets will return to service. FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Read More

3M cuts 2019 profit outlook on weak China, shares fall 11 percent

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(Reuters) – Shares of 3M Co fell 11 percent on Thursday after the U.S. manufacturing conglomerate cut its 2019 earnings forecast and said it would lay off 2,000 workers, citing worsening performance in high-growth markets such as China. The stock’s worst day in more than three decades dragged down the Dow Jones Industrial Average, and Read More

Brent touches $75 per barrel after Europe halts Russian crude imports

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NEW YORK (Reuters) – Brent crude hit $75 per barrel on Thursday for the first time in nearly six months after quality concerns suspended some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran. FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, Read More

Corporate profits and U.S. economy chug along, defying recession fears

6 hours ago DieselGasoil Comments Off on Corporate profits and U.S. economy chug along, defying recession fears
NEW YORK (Reuters) – After months of handwringing about the possible crash-landing of the housing market, investors awaiting quarterly earnings from No. 3 U.S. homebuilder PulteGroup Inc this week were ready for the worst. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 23, 2019. Read More

Brent rises to $75 per barrel after Europe suspends Russian crude exports

6 hours ago DieselGasoil Comments Off on Brent rises to $75 per barrel after Europe suspends Russian crude exports
NEW YORK (Reuters) – Brent crude touched $75 per barrel on Thursday for the first time in nearly six months as quality concerns halted some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran. FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, Read More