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Marathon Petroleum (MPC) shares have risen more than 200% this year, outpacing Nvidia, Intel, AMD, Qualcomm and Broadcom, helped by higher oil prices after the U.S.-Iran war began in February. Second-quarter revenue reached $52.33 billion, up more than 53% and above analyst expectations of $41.44 billion, while EPS rose to $17.73 from $3.96 a year earlier. Refining and marketing margin rose to $36.33 per barrel from $17.58. Raymond James raised its price target to $560 from $445 with an 'Outperform' rating, implying nearly 16% upside, while Koyfin's 12-month average target of $442.33 implies a downside of more than 6%. Of 19 analysts, nine rate the stock Buy or higher, nine Hold and one Sell.
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Democrat Jon Rosenthal, a Houston state representative and oil field engineer, is challenging Republican Bo French for a seat on the Texas Railroad Commission, which regulates the state's oil and gas industry. French, a conservative firebrand whose racially charged remarks about South Asian students drew national attention, has focused the race on Chinese-owned land, DEI, immigration and LGBTQ+ issues that the commission has little power over. Rosenthal has pledged to pursue chronic polluters, strengthen oversight of natural gas facilities, and create a wastewater fee to fund abandoned well cleanup, and would be the first Democrat elected to the commission since the 1990s. However, his fundraising has trailed previous Democratic candidates, and French has not backed down despite criticism from his own party. The winner of the Nov. 3 election will oversee a state agency with a half-billion budget.
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Meta Platforms (NASDAQ:META) will report earnings this Wednesday after the market closes. Last quarter, revenue reached $60.8 billion, up 28% year on year and above analysts' expectations, though revenue guidance for next quarter slightly missed forecasts; daily active users hit 3.6 billion, up 3.4%. The market expects revenue growth of 23.6% this quarter, slowing from 26.2% a year earlier, and analysts have generally reconfirmed their estimates over the past 30 days. Over the last month, consumer internet stocks have gained 1.3% on average, while Meta is down 4.8%.
- CNBC Daily Open: Tech rebounds in the U.S., but Asia isn’t buying it yet
U.S. tech stocks rebounded as the Nasdaq Composite rose more than 1% on Monday, with Nvidia up 1.4% and Tesla up 3.8%. In Asia, however, tech shares fell on Tuesday, with South Korea's Kospi down over 4% and Japan's Nikkei 225 down 1.6%. Nvidia also unveiled plans to back four German AI startups as part of its nearly $10 billion European investment commitment. Jenny Lee of Granite Asia said Asian companies are reaching IPOs much sooner, often at four to five years old, while Jio Platforms' Indian IPO saw its anchor investor quota oversubscribed more than 30 times, aiming to raise up to 302 billion rupees ($3.2 billion). In Singapore, several agricultural stocks fell after Senior Minister K Shanmugam warned that companies would not escape responsibility for possible roles in the haze, noting seven firms had been questioned by the Singapore Exchange.
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NiSource has nearly doubled shareholders' money over the past five years, delivering a 97.6% total return, which raises the question of whether dividends can justify the current share price. The article highlights a new 20-year energy agreement with Microsoft, including customer-funded grid upgrades and long-term electric service for data centers, which may affect future capital needs and cash-flow visibility. Using a Dividend Discount Model with inputs of about $1.35 dividend per share, roughly 9.07% return on equity, a payout ratio slightly above 61%, and implied dividend growth of about 3.5%, the estimated intrinsic value sits meaningfully below the current share price of $41.95. The model still does not bridge that gap, suggesting income investors are paying a premium for a relatively steady payout with modest assumed growth.
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The article argues that Life Time Group (LTH), First Watch Restaurant Group (FWRG) and Freshpet (FRPT) could each rise tenfold over the next 20 years, roughly 12% a year. Life Time, which runs 195 clubs, is building bigger facilities and raised revenue per membership 11.8% in the second quarter while members grew just 1.2%, though its roughly $1.5 billion in debt and sale-leaseback deals could strain it in a recession. First Watch, with 665 restaurants in 33 states, serves breakfast, brunch and lunch and has bought back 64 restaurants from franchisees in eight deals since May 2023. Freshpet places branded fridges in stores, now nearly 40,000 of them, and according to its investor presentation, its production lines could grow from 16 to at least 24.
- Why have fresh investments into gold FoFs been halted , and what should you do ?
About 20 mutual fund houses have reportedly halted fresh lump-sum investments, new SIPs and top-ups into gold fund of funds (FoFs) following regulatory directives issued on 15 and 16 October. The aim is to curb gold import demand and ease rupee pressure during the festive season, while direct gold ETF investments and existing active SIPs are unaffected. Navneet Damani of Motilal Oswal said high crude prices strain the rupee and balance of payments, so gold and silver imports could be curtailed, though import duties raised from 6% to 15% have not halted inflows. Gold FoF industry size stood at ₹47,359 crore in August, down from ₹53,638 crore in March, and experts advised investing based on needs rather than FOMO. Secondary-market sovereign gold bonds (SGBs) no longer qualify for tax-free maturity gains and now face 12.5% long-term capital gains tax.
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