| (AFX UK Focus) 2008-03-19 15:11 GMT: Oil inventories rose last week
WASHINGTON (AP) - Crude-oil inventories rose slightly last week for the second straight period, but gasoline stockpiles fell unexpectedly for the first time in weeks, according to government data published Wednesday. For the week ended March 14, crude-oil inventories rose by 200,000 barrels, or 0.1 percent, to 311.8 million barrels, the Energy Department's Energy Information Administration said in its weekly report. The stockpiles were 3.7 percent below year-ago levels, and analysts had expected a gain of 2.1 million barrels, according to a survey by Dow Jones Newswires. Gasoline inventories fell by 3.5 million barrels, or 1.5 percent, to 232.5 million barrels, which were 11.1 percent above year-ago levels. Analysts expected stockpiles of the motor fuel to rise by 300,000 barrels last week.
Hot Stock on the Move: UDTT!
Wall Street Press Wire (www.WallStreetPressWire.com) is please to highlight its "stocks on the move" for Thursday. Our list includes: Universal Detection Technology (OTC BB:UDTT.OB - News), Visa Inc. (V - News), Northrop Grumman Corporation (NYSE:NOC - News) and Microsoft (NasdaqGS:MSFT - News). .
WEEKEND EDITION: Cheap Dollar Reveals Some Bargain Stocks, But It Pays To Be Picky
NEW YORK (Dow Jones) -- Sorting through the gloom about the beaten down dollar and the slowing U.S. economy, some stock-pickers are finding bargains in companies that actually benefit from a cheaper buck. About 40% of S&P 500 companies derive more than half of their revenue from business overseas. For those companies, the dollar's decline can offset slowing domestic demand. "It's the weak dollar's dirty little secret," said Art Hogan, chief market strategist at Jefferies & Co. General Electric Co. (GE), International Business Machines Corp. (IBM) and Intel Corp. (INTC) stand to gain from higher overseas sales spurred by the decline in the U.S. dollar, Hogan says. So too do retail companies such as McDonald's Corp. (MCD), Las Vegas Sands Corp.
|
