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ConocoPhillips, Venezuela’s PDVSA reach $2 billion settlement

Venezuela’s crude production, a major source of revenue, has fallen to a six-decade low this year as lack of investment, recession and hyperinflation pushed the OPEC-member country’s economy to near collapse. The settlement could restore a portion of lost exports by resuming shipping from the Caribbean. Conoco will suspend legal enforcement of the arbitration award as long as payments continue, spokesman Daren Beaudo said. …read more […]

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Drugmakers Extend Summer Rally as Markets Regain Footing

Major pharmaceutical companies are partying like it’s 2001. U.S. drugmakers including Pfizer Inc., Eli Lilly & Co., and Merck & Co. are seeing their share prices balloon to the highest levels in more than 16 years as investors rotate in after second-quarter results proved stronger than expected. Impressive earnings paired with waning concerns about potential Trump administration actions on drug pricing could be helping to draw generalist investors in a bit of a “catch up trade,” according to Credit Suisse analyst Vamil Divan. …read more […]

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As the Competition Revs, Intel Stock May Be Starting an Epic Slide

The past few weeks have been tough ones for Intel (NASDAQ:INTC) shareholders, as Intel stock has peeled back from its early June peak of $57.60 to a multi-month low near $47… an 18% setback. Not only was the market reminded of just how much good competition the chipmaker faces on all fronts, but also another batch of security flaws unique to some of its computer processors were announced. The latter, however, is something current and would-be owners of Intel stock just may not be willing to give. …read more […]