Why PDC Energy Stock Plunged as Much as 16% in Early Trading Today

Why PDC Energy Stock Plunged as Much as 16% in Early Trading Today

The exploration and production company is doing what it has to do to survive, but it doesn’t paint a pretty picture. The number of U.S. workers who voluntarily left their jobs in July increased to a five-month high, indicating more Americans are becoming sanguine about their prospects of finding a new position as the economy recovers. Verified Market Research recently published a report, "3D Bioprinting Market by Material (Hydrogels, Extracellular Matrices, Living Cells), by Application (Research Applications, Clinical Applications), by Technology (Magnetic 3D Bioprinting, Laser-Assisted Bioprinting, Inkjet 3D Bioprinting, Microextrusion News

Video News

Commentaries Politicians, legal experts and even a member of the U.K. government have said that the Internal Market Bill, if approved by lawmakers, would break international law.

Shares of oil and natural gas driller PDC Energy (NASDAQ:PDCE) fell as much as 16% in the first 90 minutes of trading on Sept. 10. So far in 2020 the company’s stock price has been cut roughly in half. The big issue is clearly the COVID-19 related demand disruption that has left energy markets moribund for months. Today’s drop, however, was related to something very specific.

The news that spooked investors today is that PDC Energy announced plans to issue an additional $150 million worth of debt. The proceeds of the sale, which will carry an interest rate of 5.75%, will be used to pay down a revolving credit facility. In other words, the exploration and production company is looking to turn temporary debt into permanent debt. Investors were not pleased with that development.   

An oil well and two men writing in notebooks in the foreground

Image source: Getty Images.

The reason really goes back to the big-picture of the oil market, which is struggling to adjust to a massive supply/demand imbalance. In fact, the situation was so bad earlier in the year that oil prices actually fell below zero. That was a temporary event, and there were technical reasons for the price drop, but it highlights the depth of the problem drillers are facing today. It is very hard for energy companies to make a profit with oil prices as low as they are right now. PDC Energy has been working very hard to adjust, including cutting its capital spending plans by a huge 50% from its early year projections. Muddling through this period has also involved a significant increase in leverage, with long-term debt levels increasing by nearly two-thirds in the first half of the year. It’s not a particularly reassuring sign that PDC Energy is now going back to the debt markets looking for even more cash.   

Cash is king when times are tough, so PDC Energy is doing what it has to in an effort to ensure it gets through what is a very difficult period for energy stocks. And yet, with a debt-to-equity ratio of nearly 0.75 times before the just-announced debt sale (up from around 0.5 times at the start of the year), the energy company’s balance sheet is looking at least a little stretched. Most investors considering investing in the energy space would probably be better off sticking with a larger, more financially stable name like Chevron right now given the inherent uncertainty in the oil space.  

Source: www.fool.com

Author: Reuben Gregg Brewer


More Americans Are Quitting Their Jobs. That’s a Good Sign

More Americans Are Quitting Their Jobs. That’s a Good Sign

After Months In Lockdown, America's Largest Metropolis Gradually Returns To Normal

Photographer: Jeenah Moon/Bloomberg

Photographer: Jeenah Moon/Bloomberg

The number of U.S. workers who voluntarily left their jobs in July increased to a five-month high, indicating more Americans are becoming sanguine about their prospects of finding a new position as the economy recovers.

So-called quits climbed by 344,000 to nearly 3 million during the month, Labor Department figures showed Wednesday. The number of job leavers as a share of total employed rose to 2.1%, creeping closer to the 2.3% that was prevalent before the coronavirus shut down the economy.

Number of Americans voluntarily leaving their jobs reaches five-month high

The government’s Job Openings and Labor Turnover Survey also showed a larger-than-forecast 6.6 million vacant positions at employers, about 400,000 shy of pre-pandemic levels. Layoffs also declined in July from a month earlier.

Taken together, it “all adds to the fact that the quits rate is probably realistic,” said Steven Ricchiuto, U.S. chief economist at Mizuho Securities USA LLC. “Can I say the number is definitely the number it should be? No, but it makes me think the labor market is healthy.”

However, some are more skeptical given the disruptive nature of the pandemic on the economy and the still-present repercussions in industries such as retail, leisure and travel. Also complicating matters: some people may be quitting their jobs due to childcare needs or to minimize their chances of being exposed to the virus at work.

Quits jumped in retail and rose more moderately in the accommodation and food services industries, the JOLTS report showed. They also picked up in professional and business services, where there were more available positions during the month as well.

“I would not interpret it as I have interpreted increases in the quits rate in the past as a sort of increase in workers’ bargaining power and confidence about the state of the labor market,” said Nick Bunker, economic research director for North America at jobs website Indeed.

Peter Morici, an economist and professor emeritus at the University of Maryland, said Americans are learning to live with the virus, so the increase in the quits rate should be viewed as a sign of progress in the job market.

“We’ve had those problems all along and if anything, those problems are getting less severe,” Morici said. “Not that they’re still not significant, but they’re getting less severe.”

Source: www.bloomberg.com

Author: By
Jarrell Dillard


3D Bioprinting Market Worth $4735.96 Million, Globally, by 2027 at 26.43% CAGR: Verified Market Research

3D Bioprinting Market Worth $4735.96 Million, Globally, by 2027 at 26.43% CAGR: Verified Market Research

– Increasing use of 3D bioprinting in the pharmaceutical & cosmetology industries, & rising public and private funding to support bioprinting research activities are the key driver of global 3D Bioprinting Market

JERSEY CITY, N.J., Sept. 10, 2020 /PRNewswire/ — Verified Market Research recently published a report, “3D Bioprinting Market by Material (Hydrogels, Extracellular Matrices, Living Cells), by Application (Research Applications, Clinical Applications), by Technology (Magnetic 3D Bioprinting, Laser-Assisted Bioprinting, Inkjet 3D Bioprinting, Microextrusion Bioprinting), Geography”. According to Verified Market Research, the Global 3D Bioprinting Market was valued at USD 820.85 million in 2019 and is projected to reach USD 4735.96 million by 2027, growing at a CAGR of 26.43% from 2020 to 2027.

3D Bioprinting Market Analysis & Forecast, 2020-2027

This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=24125

Browse in-depth TOC on “3D Bioprinting Market”
202 – Pages
126 – Tables
37 – Figures

Global 3D Bioprinting Market Overview

The global 3D bioprinting market is expected to witness significant growth during the forecast period due to the increasing adoption of 3D bioprinting in the healthcare, pharmaceutical, and biotechnology market. In addition, the rise in usage of 3D printing in cosmetic surgeries and inventions in 3D bioprinting is anticipated to further foster the 3D bioprinting market growth over the forecast period. The rise in public and private funding to support bioprinting research activities has also added fuel to the market growth. The major technological advancements in the 3D bioprinting space have taken place for various medical applications, including skin tissue development, cancer therapeutics, bone and cartilage development, and liver modeling is also supporting this growth of the market over the forecast period.

There are some recent trends in 3D bioprinting. 3D bioprinters hold the crucial importance of drug testing and clinical trial applications expected to drastically reduce the need for animal trials. The regulatory body of the United States Food and Drug Administration has started to consider 3D bioprinting as an integrating alternative for drug safety and efficacy assessment. Moreover, In April 2019, NIBIB-funded researchers at the University of Minnesota build a new, dynamic 3D Bioprinted tumor model in a laboratory to screen anticancer drugs and studied them outspread of cancer and primary stage of the tumor.

Furthermore, factors such as the supportive regulatory environment in emerging countries like India, the presence of a large number of stem cell product pipelines, and applications of regenerative medicine for treating several diseases are expected to offer favorable growth opportunities for the 3D bioprinting market over the forecast period.

The “Global 3D Bioprinting Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Organovo Holdings, Inc., Envisiontec GmbH, Nano 3D Biosciences, Inc., Cyfuse Biomedical K.K., Regenhu Ltd., Aspect Biosystems Ltd., Biobots, Cellink, Gesim, and Poietis

Verified Market Research has segmented the Global 3D Bioprinting Market on the basis of Technology, Material, Application, and Geography.

  • 3D Bioprinting Market by Technology

  • 3D Bioprinting Market by Material

  • 3D Bioprinting Market by Application

  • 3D Bioprinting Market by Geography

Browse Related Reports:

Arthroscopy Devices Market by Product (Arthroscopy Implants, Arthroscopes, Fluid Management Systems, Radiofrequency Systems, Visualization Systems, Powered Shaver Systems), by Application (Knee Arthroscopy, Hips Arthroscopy, Spine Arthroscopy, Foot & Ankle Arthroscopy, Shoulder & Elbow Arthroscopy), Geography, Forecast,  2019-2026

In Vitro Lung Model Market by Type (2D Models, 3D Models), by Application (Drug Screening, Toxicology, 3D Model Development), Geography, Forecast, 2019-2026

Heart Pump Devices Market by Type (Implantable Heart Pump Devices, Extracorporeal Heart Pump Devices), by Product (Ventricular Assist Devices (VADs), Intra-Aortic Balloon Pumps (IABPs), Total Artificial Heart (TAH)), Geography, Forecast, 2019-2026

Lithotripsy Market by Type (Extracorporeal Shock Wave Lithotripsy Devices, Intracorporeal Lithotripsy Devices), by Application (Kidney Stones, Bile Duct Stones, Pancreatic Stones, Ureteral Stones), Geography, Forecast, 2019-2026

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME’s offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us
Mr. Edwyne Fernandes
Verified Market Research
US: +1 (650)-781-4080
UK: +44 (203)-411-9686
APAC: +91 (902)-863-5784
US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketresearch.com
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

Verified Market Research Logo (PRNewsfoto/Verified Market Research)

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/3d-bioprinting-market-worth-4735-96-million-globally-by-2027-at-26-43-cagr-verified-market-research-301127366.html

SOURCE Verified Market Research

Source: news.yahoo.com


Producer prices rise, gold price sees uptick

Producer prices rise, gold price sees uptick

(Kitco News) – The Producer Price Index (PPI) increased 0.3 percent in August, according to the U.S. Bureau of Labor Statistics (BLS).

Spot gold saw slightly higher price movement, up $7 an ounce as of 8:30 am EST.

The increase in the PPI in August was the second consecutive advance; prices saw continuous decline between April to June in the wake of the recession.

“The index for final demand less foods, energy, and trade services moved up 0.3 percent in August, the same as in both July and June. For the 12 months ended in August, prices for final demand less foods, energy, and trade services increased 0.3 percent,” the report from the BLS said.

On the services side of the index, known as final demand services, two-thirds of the advance can be attributed to a 1.2 percent increase in final demand trade services.

Nearly 20 percent of the increase in the final demand services index in August can be attributed to a 1.1 percent increase in margins for machinery, equipment, parts, and supplies wholesaling, the report noted.

Prices for final demand goods also increased, up 0.1 percent in August, the fourth consecutive increase.

Source: www.kitco.com

Author: http://www.facebook.com/kitconews


UK's post-Brexit plan puts trade deal with the EU — and the U.S. — at risk

UK’s post-Brexit plan puts trade deal with the EU — and the U.S. — at risk

Prime Minister Boris Johnson attends a virtual press conference at Downing Street on September 9, 2020 in London.

WPA Pool | Getty Images News | Getty Images

It looks increasingly unlikely that the U.K. will reach a trade agreement with the European Union — and that could also harm the chances of a future deal with the United States.

The U.K. government outlined on Wednesday how it plans to manage trade following its full breakup from the EU at the end of the year with two significant announcements.

Firstly, it proposed legislation, called the Internal Market Bill, which gives the U.K. government stronger powers over trade rules in Scotland, Wales and Northern Ireland –  something lawmakers in these countries have issue with.

Secondly, the government said the U.K. would not follow EU rules for state aid — a key stumbling block in the negotiations with Europe to date. Instead, it will apply state aid rules agreed at the World Trade Organization level, which are less strict.  

“It’s a recipe for disaster,” Paolo Palmigiano, partner at the law firm Taylor Wessing, told CNBC.

The proposed legislation has to be approved by the U.K. Parliament before becoming law.

However, it raises questions about the U.K.’s ability to apply a WTO framework — which is meant to solve trade issues between two different nations — to its unique four-nation formation. In addition, the publication of the Internal Market Bill puts ongoing trade talks with the European Union at risk.

Ursula von der Leyen, European Commission president, said on Wednesday that she was “very concerned about the announcement from the British government.”

To leave the European Union, the U.K. government put into law the Withdrawal Agreement in January. Its implementation is a precondition for the EU to sign any trade deal with the U.K. government.

In the Withdrawal Agreement, the U.K. agreed that state aid given by the U.K. government above a certain threshold that would impact trade between Northern Ireland and the rest of the EU would have to be approved by the European Commission.

Under the latest government bill, the U.K. government is overriding that part of the Withdrawal Agreement by giving its ministers the power to “disapply” that specific law concerning state aid.

“The Bill is in breach of this obligation,” Palmigiano said.

As a result, law experts, politicians and even a member of the U.K. government have said that the Internal Market Bill, if approved by U.K. lawmakers, would break international law.

This is where the United States would have an issue too.

Nancy Pelosi, the speaker of the House and a vocal Democrat lawmaker, said Wednesday that if the U.K. violates its international agreements, “there will be absolutely no chance of a U.S.-U.K. trade agreement passing the Congress.”

The U.K. government could put its international credibility at risk if it indeed overrides parts of its already-legislated exit agreement with the EU.

European and U.K. officials are having emergency talks Thursday, however, some analysts have updated their forecasts in the last 48 hours and are now expecting a total rupture in trade negotiations between the EU and the U.K.

“We now think no deal is the most likely outcome at the end of the year, a 60% probability,” analysts at consulting firm Eurasia Group said Wednesday.

Former European Commission President Jean-Claude Juncker said Tuesday that no deal was the most likely outcome too.

Others believe the legal changes are “negotiating tactics” from the U.K. government to get concessions in the trade negotiations with the EU.

Both sides have said they have only until mid-October to agree on new trade rules.

The U.K. is currently in a transition phase after it stopped being a member of the EU in January, but this will expire on Dec. 31.

Source: www.cnbc.com

Author: Silvia Amaro


Why PDC Energy Stock Plunged as Much as 16% in Early Trading Today


Leave a Comment