Carl Icahn to investors: ‘The worst is yet to come’

Wall Street icon Carl Icahn has a warning for his fellow investors: “The worst is yet to come.” Speaking on Wednesday at MarketWatch’s Best New Ideas in Money Festival via a remote feed, the 86-year-old Icahn delivered that grim assessment of the economy, but also spoke of areas of opportunity for investors. It’s not hard … Read more

Occidental Petroleum Corp. stock rises Monday, still underperforms market

Shares of Occidental Petroleum Corp. OXY, +0.42% inched 0.42% higher to $64.68 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +0.69% rising 0.69% to 3,899.89 and the Dow Jones Industrial Average DJIA, +0.64% rising 0.64% to 31,019.68. The stock’s rise snapped a … Read more

Celanese Corp. stock rises Monday, outperforms market

Shares of Celanese Corp. CE, +1.36% advanced 1.36% to $103.82 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +0.69% rising 0.69% to 3,899.89 and the Dow Jones Industrial Average DJIA, +0.64% rising 0.64% to 31,019.68. The stock’s rise snapped a four-day losing … Read more

Global Oil Demand Dropped By Over 1 Million Bpd In July

Global oil demand fell by an estimated 1.1 million barrels per day (bpd) in July this year, the latest data from the Joint Organizations Data Initiative (JODI) showed on Monday. Historically, global oil demand normally rises rather than falls in July. The demand decline was driven by drops in consumption in China, India, Indonesia, developed … Read more

Private Oil Drillers Are Hitting Their Limits

Dozens of small drillers helped fuel a resurgence in the busiest US oil patch over the past two years. But they tapped many of their best drilling spots, and will have to ease their rapid pace of drilling as their inventory shrinks, analysts and executives say. Private oil companies in the Permian Basin of West … Read more

Vladimir Putin’s Energy War With Europe Seems to Falter

Vladimir Putin’s economic campaign to force European governments to abandon support for Ukraine by sharply curbing their natural-gas supplies looks to be faltering as gas prices fall, Russian government finances deteriorate and the continent sets plans to ease the pressure on households and businesses. Russia’s long-term success in the economic fight with Europe is seen … Read more

Electric Bills Soar Across the Country as Winter Looms

US utility customers, faced with some of their largest bills in years, are set to pay even more this winter as natural-gas prices continue to climb. Natural-gas prices have more than doubled this year because of a global supply shortage made worse by the war in Ukraine, and they are expected to remain elevated for … Read more

Opinion: Adobe’s stock got slammed for spending $20 billion on Figma. But it now owns a rare company.

Adobe beat revenue and profit expectations, and on the same day announced it would acquire a smaller but faster-growing rival in online design-collaboration tools. The stock market rewarded the company by pushing down its shares ADBE, -3.12% to the lowest level in almost three years. Investors punished the company not for its earnings report, released … Read more

Opinion: Adobe’s stock got slammed for spending $20 billion on Figma. But it now owns a rare company.

Adobe beat revenue and profit expectations, and on the same day announced it would acquire a smaller but faster-growing rival in online design-collaboration tools. The stock market rewarded the company by pushing down its shares ADBE, -3.12% to the lowest level in almost three years. Investors punished the company not for its earnings report, released … Read more

Imperial Oil Ltd. stock falls Friday, underperforms market

Shares of Imperial Oil Ltd. IMO, -0.96% slid 0.96% to C$60.85 Friday, in what proved to be an all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, -0.89% falling 0.89% to 19,385.88. This was the stock’s second consecutive day of losses. Imperial Oil Ltd. closed C$12.11 below its 52-week high … Read more