Athabasca Oil Announces Sale of Non-Core Light Oil Assets for $160M; Retains Strategic Duvernay Assets With 500 Future Drilling Locations; Transaction High-Grades the Company's Deep Resource Portfolio, Crystallizes Value From a Non-Core Asset at an Attractive Price and Bolsters the Company's Strong Fincl Position
Athabasca Agreed to Sell Its 70% Operated Working Interest in Placid Targeting the Montney, Its 30% Non-Operated Working Interest in Saxon and Simonette Targeting the Duvernay, Other Associated Non-Core Placid Montney Assets to Private Co for $160M in Cash; During 1H 2023, These Assets Collectively Averaged 3,000 Boe/d (45% Liquids); Effective Date of the Transaction Will Be March 1, 2023, and Closing Is Expected Late in the 3Q 2023
Reliance Industries Signed MoU with Brookfield Asset Management; MoU Is to Make Onshore Renewable-Power, Decarbonization Equipment in Australia; Reliance To Consider Producing PV Modules, Long-Duration Battery Storage, Parts for Wind Energy To Consider Producing PV Modules, Long-Duration Battery Storage, Parts for Wind Energy
SilverCrest Announces Results of Updated Independent Technical Report; Results From Report 'Confirm Our Confidence in Las Chispas'
Expected Major Events for Tuesday
00:30/JPN: Jul Japan Manufacturing PMI
05:00/JPN: Jul Auto sales
06:00/RUS: Jul Russian Manufacturing PMI
06:00/UK: Jul Nationwide House Price Index
07:45/ITA: Jul Italy Manufacturing PMI
07:50/FRA: Jul France Manufacturing PMI
07:55/GER: Jul Labour market statistics (incl unemployment)
07:55/GER: Jul Germany Manufacturing PMI
08:00/ITA: Jun Unemployment
08:30/UK: Jul S&P Global / CIPS UK Manufacturing PMI
12:55/US: 07/29 Johnson Redbook Retail Sales Index
13:30/CAN: Jul Canada Manufacturing PMI
13:45/US: Jul US Manufacturing PMI
14:00/US: Jul ISM Report On Business Manufacturing PMI
14:00/US: Jun Construction Spending - Construction Put in Place
14:00/US: Jun Job Openings & Labor Turnover Survey
15:00/US: Jul Global Manufacturing PMI
20:00/US: Jul Domestic Auto Industry Sales
20:30/US: 07/28 API Weekly Statistical Bulletin
23:01/UK: 3Q CBI SME Trends Survey
23:50/JPN: Jul Monetary Base
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Tuesday
Allegro MicroSystems Inc (ALGM) is expected to report for 1Q.
Altria Group Inc (MO) is expected to report $1.30 for 2Q.
Ares Management Corp (ARES) is expected to report $0.91 for 2Q.
Bloomin' Brands (BLMN) is expected to report $0.63 for 2Q.
Citizens Holding Co (CIZN) is expected to report for 2Q.
CommVault (CVLT) is expected to report $0.20 for 1Q.
Crestwood Equity Partners LP (CEQP) is expected to report $0.38 for 2Q.
Diebold Nixdorf Inc (DBDQQ) is expected to report $-0.36 for 2Q.
Dorman Products (DORM) is expected to report $1.10 for 2Q.
Ecolab Inc (ECL) is expected to report $1.19 for 2Q.
Esperion Therapeutics Inc (ESPR) is expected to report $-0.59 for 2Q.
FTI Consulting (FCN) is expected to report $1.79 for 4Q.
Fannie Mae (FNMA) is expected to report $0.60 for 2Q.
Gentherm (THRM) is expected to report $0.51 for 2Q.
Global Payments Inc (GPN) is expected to report $1.11 for 2Q.
Graphic Packaging Holding Co (GPK) is expected to report $0.70 for 2Q.
Hamilton Lane Inc (HLNE) is expected to report $0.83 for 1Q.
IQVIA Holdings Inc (IQV) is expected to report $1.50 for 2Q.
Insperity (NSP) is expected to report $0.93 for 2Q.
Kennametal Inc (KMT) is expected to report $0.59 for 4Q.
MPLX LP (MPLX) is expected to report $0.90 for 2Q.
Merck & Co Inc (MRK) is expected to report $1.52 for 2Q.
Oshkosh Corp (OSK) is expected to report $1.64 for 2Q.
Oxford Square Capital Corp (OXSQ) is expected to report $0.12 for 2Q.
Pfizer Inc (PFE) is expected to report $0.53 for 2Q.
Revvity Inc (RVTY) is expected to report $0.76 for 2Q.
Rockwell Automation Inc (ROK) is expected to report $3.05 for 3Q.
Rubius Therapeutics Inc (RUBY) is expected to report $-0.50 for 1Q.
Shutterstock (SSTK) is expected to report $0.63 for 2Q.
Sirius XM Holdings Inc (SIRI) is expected to report $0.08 for 2Q.
Stanley Black & Decker Inc (SWK) is expected to report $-0.58 for 2Q.
SunPower Corp (SPWR) is expected to report $-0.09 for 2Q.
Surgery Partners Inc (SGRY) is expected to report $0.03 for 2Q.
Trinity Industries (TRN) is expected to report $0.31 for 2Q.
Triton International Ltd (TRTN) is expected to report $2.34 for 2Q.
USA Compression Partners LP (USAC) is expected to report $0.08 for 2Q.
Uber Technologies Inc (UBER) is expected to report for 2Q.
Watsco Inc (WSO,WSOB) is expected to report $4.87 for 2Q.
Weston (George) Ltd (WN.T,WNGRF) is expected to report for 2Q.
iMedia Brands Inc (IMBIQ) is expected to report for 1Q.
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ANALYST RATINGS ACTIONS
Adobe Raised to Overweight From Equal-Weight by Morgan Stanley
Agilent Cut to In-Line From Outperform by Evercore ISI Group
Agilent Cut to Underweight From Equal-Weight by Barclays
Arbor Realty Trust Cut to Underweight From Overweight by Piper Sandler
Avantor Cut to In-Line From Outperform by Evercore ISI Group
Avantor Cut to Market Perform From Outperform by William Blair
Blueprint Medicines Raised to Overweight From Equal-Weight by Wells Fargo
Brightcove Raised to Buy From Hold by Lake Street
Carvana Cut to Underperform From Hold by Jefferies
Chevron Raised to Buy From Neutral by Goldman Sachs
CSX Corp Cut to Sector Perform From Outperform by RBC Capital
Ford Motor Cut to Hold From Buy by Jefferies
GoodRx Holdings Raised to Outperform From Market Perform by TD Cowen
Hasbro Raised to Buy From Neutral by B of A Securities
Ionis Pharmaceuticals Raised to Buy From Neutral by Citigroup
Minerals Technologies Raised to Buy From Neutral by CL King
NY Community Bancorp Raised to Buy From Hold by Deutsche Bank
Penske Auto Cut to Underweight From Neutral by JP Morgan
Raytheon Technologies Cut to Hold From Buy by Argus Research
Reata Pharmaceuticals Cut to Hold From Buy by Jefferies
Ryder System Raised to Outperform From Neutral by Baird
Salesforce Cut to Equal-Weight From Overweight by Morgan Stanley
Sirius XM Raised to Neutral From Sell by Seaport Global
SmartFinancial Raised to Strong Buy From Market Perform by Raymond James
Southwest Airlines Cut to Market Perform From Outperform by Bernstein
Sweetgreen Raised to Overweight From Neutral by Piper Sandler
Tractor Supply Cut to Equal-Weight From Overweight by Barclays
United Parcel Service Cut to Neutral From Outperform by Credit Suisse
Verra Mobility Raised to Buy From Hold by Deutsche Bank
Wayfair Raised to Overweight From Neutral by Piper Sandler
XPO Logistics Cut to Neutral From Outperform by Credit Suisse
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
08-01-23 0616ET
