Zacks Analyst Blog Highlights: Petrobras, Repsol YPF S.A., D.R. Horton, Weyerhaeuser and Masco
2009-05-20 14:39:13 -
Zacks.com announces the list of stocks featured in the Analyst Blog.
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Petrobras (NYSE: PBR : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ), Repsol YPF S.A. (NYSE: REP : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ), D.R. Horton (NYSE: DHI : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ), Weyerhaeuser (NYSE: WY : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ) and Masco (NYSE: MAS : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ).
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Here are highlights from Tuesday’s Analyst Blog:
Petrobras Brings Good News
Yesterday, Petrobras (NYSE: PBR : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ) announced the finding of a new oil field, named BM-S-3, in the Santos Basin. This new block is close to the field BM-S-7, which Petrobras and Repsol YPF S.A. (NYSE: REP : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ) recently declared commercial feasibility. Even better, this new field is 100% owned by Petrobras. Even though there is just the indication of hydrocarbons, more information will depend on further tests to be carried on in the following months.
Additionally, Brazilian President Lula is in China this week, and Brazilian papers have announced that a credit line in the amount of US$10 billion from the development Bank of China to Petrobras is to be announced in the following hours. Petrobras has a huge investment program going on, focused on the development of the Tupi field in the Santos Basin, one of the most promising oil field in the world nowadays.
Permits and Starts Fall Again
While the drop in permits and starts means that we are following the first law of holes -- when you find yourself in one, stop digging! -- it does indicate that residential investment will once again be a significant drag on GDP in the second quarter. These figures are well below anything on record, with total starts below the previous low points in other recessions for single-family starts alone.
It is also bad news for not only the Homebuilders like D.R. Horton (NYSE: DHI : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ) but also for suppliers like Weyerhaeuser (NYSE: WY : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ) and Masco (NYSE: MAS : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ).
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