SpaceX launched a satellite toward distant orbit on Friday after multiple delays.
The private space exploration company, headed by Tesla (TSLA) CEO Elon Musk, launched from the Cape Canaveral Air Force Station in Florida at 6:35 pm ET.
SpaceX has set five different launch dates, the first of which was on February 25 — and it has halted six countdowns due to problems with the rocket fuel, weather, and even interference from a nearby boat.
But on Friday, SpaceX employees and onlookers cheered as the Falcon 9 rocket hurtled toward the sky without issue.
The mission was to deliver a massive satellite that could provide broadband internet to remote areas of the Asia-Pacific into geosynchronous orbit.
That’s no small feat. More than 22,000 miles into space, geosynchronous orbit is 100 times further than where the International Space Station orbits.
Best Solar Companies To Watch In Right Now: Whiting Petroleum Corporation( WLL)
Whiting Petroleum Corporation engages in the acquisition, development, exploitation, exploration, and production of oil and gas primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast, and Michigan regions of the United States. As of December 31, 2010, its estimated proved reserves were 304.9 million barrels equivalent of oil; and had interests in 9,698 gross productive wells covering approximately 1,115,000 gross developed acres. The company sells its oil and gas to end users, marketers, and other purchasers. Whiting Petroleum Corporation was founded in 1983 and is Denver, Colorado.
- [By Andrew Efimoff]
WTI crude oil plunged 3.11 percent on Friday to $48.99 a barrel. Below are the biggest energy losers for the day:
California Resources Corporation (NYSE: CRC): -19.22% Dynamic Materials (NASDAQ: BOOM): -12.39% Clayton Williams Energy (NYSE: CWEI): -11.45% Dynergy (NYSE: DYN): -11.91% EP Energy Corporation (NYSE: EPE): -11.20% Mexco Energy (NYSE: MXC) -10.90% Whiting Petroleum (NYSE: WLL) -10.79% Southwestern Energy Company (NYSE: SWN) -10.79% SM Energy Company (NYSE: SM) -10.38% Real Goods Solar (NASDAQ: RGSE) -10.34%
Posted-In: Commodities After-Hours Center Markets Movers
- [By Ben Levisohn]
Credit Suisse analystsMark Lear and team explain why they upgradedWhiting Petroleum (WLL) to Outperform from Neutral:
We upgradeWhiting Petroleum to Outperform and raise our target price to $14 per share (from $13/sh) given Whiting Petroleums significant beta to a higher mark to market 2Q16 WTI price. Our target price is further aided by a recent debt exchange whereby the company was able to remove $1.065bn of debt principal through the use of mandatory convertibles. Our $14/sh target price…is based on an assumption of max dilution, with actual shares issued on the convertible debt depending on how Whiting Petroleums stock trades over the next few weeks. This exchange came on the heels of a smaller 1Q16 announcement which removes ~$477mm of debt from the balance sheet.
In the most recent exchange, the minimum mandatory conversion price has a lower bound at $8.75 per share, which when coupled with macro fears appears to have unjustly hurt and kept the stock range-bound since the announcement, asWhiting Petroleum is down ~34% over the past month relative to the XOP up ~2%. However, an extensive inventory in the core of the Williston coupled with improving type curves from larger completions which are increasing validated in state production data provide compelling near term catalysts as we expect drilling activity to accelerate in 2017 at the latest. Meanwhile, asset sales remain another key catalyst with remaining assets on the block including North Ward Estes and the monetization of Whiting Petroleums Williston Basin gas plants.
Lear also sees strong “upside potential” forConcho Resources (CXO), Pioneer Natural Resources (PXD) and Newfield Exploration (NFX) as well performance improves in the Permian/STACK, and also writes positively on Devon Energy (DVN).
Not that the upgrade is doing much good today. Shares ofWhiting Petroleum have dropped 1.4% to $8.68 at 1:59 a.m. today, wh
- [By Ben Levisohn]
Shares of energy stocks, including ExxonMobil (XOM), Chevron (CVX), Whiting Petroleum (WLL), and Devon Energy (DVN), are surging on reports that OPEC has agreed to to limit the amount of oil its members produce. Bloomberg’s Nayla Razzouk,Grant Smith, and Angelina Rascouetreport:
Best Solar Companies To Watch In Right Now: Firsthand Technology Value Fund, Inc.(SVVC)
Firsthand Technology Value Fund, Inc. (the Fund) is an externally managed, closed-end, non-diversified management investment company. The Funds investment objective is to seek long-term growth of capital. The Fund will invest at least 80% of its total assets for investment purposes in technology companies. It considers technology companies to be those companies that derive at least 50% of their revenues from products and/or services within the information technology sector or the cleantech sector Its investment portfolio by industry sector: Social Networking, Medical Devices, Semiconductor Equipment, Advertising Technology, Consumer Electronics, Cloud Computing, Mobile Computing.. The Fund will invest at least 70% of its assets in private venture capital companies and in public companies. SiVest Group, Inc. serves as investment adviser for the Fund. Advisors’ Opinion:
- [By Hibah Yousuf]
Similarly, Twitter is also the biggest holding in the Firsthand Technology Value Fund (SVVC). With just over 1 million shares of the social media platform, Twitter represents nearly 11% of the total portfolio as of mid-year. Shares of Firsthand Technology Value jumped more than 6% Friday.
Top Managed Healthcare Companies To Watch For 2017: Brookfield Renewable Powerr Fund(BEP)
Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., owns and operates a portfolio of renewable power generating facilities in North America, Brazil, Colombia and Europe. The Company operates over three biomass facilities and Co-generation (Co-gen) facilities. The Company operates through three segments: Hydroelectric, Wind and Other, which includes Co-gen and Biomass. The Hydroelectric and Wind segments are segmented by geography, such as North America, which comprises the United States and Canada segments, Brazil, Colombia, and Europe. The hydroelectric portfolio generates approximately 6,530 Gigawatt hours (GWh) and the wind portfolio generates approximately 1,100 GWh. Its portfolio consists of hydroelectric and wind facilities in North America, Latin America and Europe and totals over 10,000 megawatts of installed capacity. Its projects include Upper Dam Construction, Coldwell Wind Energy Project and Victor Wind Project. Advisors’ Opinion:
- [By Federico Zaldua]
I expect the Brookfield Group of Companies, which is composed of no fewer than 15 publicly traded entities, to be very active acquisitive in the near-term future. Here I focus my attention on three members of the Brookfield Group that are going to be the most active with M&A. While Brookfield Asset Management (BAM) will concentrate its M&A efforts into all geographies and all asset classes, Brookfield Renewable Energy Partners (BEP) and Brookfield Infrastructure Partners (BIP) will concentrate on their respective industries. Let’s see whether you should go long on any of this separate -although related – entities.
Good Operational Performance
Brookfield Asset Management, held by Lou Simpson and Ron Baron, counts with a liquidity position of more than $5 billion at the parent and principal subsidiaries along with nearly $10 billion drawable private fund commitments. More importantly, the company has expressed its interest into using this liquidity to make acq uisitions. Management clearly stated in its letter to shareholders: