MARKET DEVELOPMENT
Palm Oil Prices Surged: Cameron International (CAM), Weatherford International (WFT), MRC Global (MRC), Basic Energy Services, (BAS)
Palm Oil Prices Surged: Cameron International (CAM), Weatherford International (WFT), MRC Global (MRC), Basic Energy Services, (BAS)
30/12/2014 (Street Register) - Palm oil and rubber advanced as flooding in Malaysia and Thailand disrupted supplies from Southeast Asia, and forecasters said that further heavy rain over the next few days will probably exacerbate the situation.
Palm oil for March delivery jumped as much as 2.6 percent to 2,308 ringgit ($660) a metric ton on Bursa Malaysia Derivatives, the highest price since Nov. 4, and traded at 2,295 ringgit at 3:16 p.m. in Kuala Lumpur. The benchmark price for the edible oil rose for an eighth day, heading for the longest rally since 2010. Rubber climbed for a third day on the Tokyo Commodity Exchange and traded near a four-month high.
Malaysia evacuated more than 200,000 people as the worst flooding in decades left at least 10 people dead, with Transport Minister Liow Tiong Lai warning today that citizens in the largest palm oil producer after Indonesia must prepare for the worst. Rubber output in Thailand, the biggest supplier, and Malaysia will drop at least 30 percent because of the floods and prices are poised to rise further, according to Yium Tavarolit, chief executive officer of the International Rubber Consortium.
Shares of Cameron International Corporation (NYSE:CAM) traded up +0.96% during last trading session, reaching $50.59. The stock has a 52 week low of $44.43 and a 52 week high of $74.89. The company has a market cap of $9.99 billion and a P/E ratio of 14.33. The P/S ratio is 0.95 and P/B ratio 2.12. The beta value is 1.34. The stock’s RSI amounts to 48.46.
In the last trading session, Weatherford International Plc (NYSE:WFT) price moved -39.83% below its 200 day moving average. The stock is currently trading -20.04% down its SMA 50. The worst hit in its 52 week range is $10.07 per share, with $24.88 being the 52 week best price, which compares with a latest closing price of $11.63. The Beta of this stock is 2.04.
For MRC Global Inc (NYSE:MRC), a return on equity of 9.80 percent was realized due to the financial situation. Last twelve months earnings per share reached a value of $1.32. Earnings are projected to move up 12.90 percent for the coming five years. The stock closed at $15.58, up +0.39% from previous close and at a distance of -5.06% from 20-day simple moving average.
Basic Energy Services, Inc (NYSE:BAS) has a market value of $304.42 million. It employs 5400 people, over the last 12 months has generated revenue of $1.40 billion and has a net income of $3.10 million. The firm’s operating margin is 5.30 percent and net profit margin 0.20 percent. The latest closing price of $7.05 was down -30.64% from the 50-day moving average.
Palm oil for March delivery jumped as much as 2.6 percent to 2,308 ringgit ($660) a metric ton on Bursa Malaysia Derivatives, the highest price since Nov. 4, and traded at 2,295 ringgit at 3:16 p.m. in Kuala Lumpur. The benchmark price for the edible oil rose for an eighth day, heading for the longest rally since 2010. Rubber climbed for a third day on the Tokyo Commodity Exchange and traded near a four-month high.
Malaysia evacuated more than 200,000 people as the worst flooding in decades left at least 10 people dead, with Transport Minister Liow Tiong Lai warning today that citizens in the largest palm oil producer after Indonesia must prepare for the worst. Rubber output in Thailand, the biggest supplier, and Malaysia will drop at least 30 percent because of the floods and prices are poised to rise further, according to Yium Tavarolit, chief executive officer of the International Rubber Consortium.
Shares of Cameron International Corporation (NYSE:CAM) traded up +0.96% during last trading session, reaching $50.59. The stock has a 52 week low of $44.43 and a 52 week high of $74.89. The company has a market cap of $9.99 billion and a P/E ratio of 14.33. The P/S ratio is 0.95 and P/B ratio 2.12. The beta value is 1.34. The stock’s RSI amounts to 48.46.
In the last trading session, Weatherford International Plc (NYSE:WFT) price moved -39.83% below its 200 day moving average. The stock is currently trading -20.04% down its SMA 50. The worst hit in its 52 week range is $10.07 per share, with $24.88 being the 52 week best price, which compares with a latest closing price of $11.63. The Beta of this stock is 2.04.
For MRC Global Inc (NYSE:MRC), a return on equity of 9.80 percent was realized due to the financial situation. Last twelve months earnings per share reached a value of $1.32. Earnings are projected to move up 12.90 percent for the coming five years. The stock closed at $15.58, up +0.39% from previous close and at a distance of -5.06% from 20-day simple moving average.
Basic Energy Services, Inc (NYSE:BAS) has a market value of $304.42 million. It employs 5400 people, over the last 12 months has generated revenue of $1.40 billion and has a net income of $3.10 million. The firm’s operating margin is 5.30 percent and net profit margin 0.20 percent. The latest closing price of $7.05 was down -30.64% from the 50-day moving average.