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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Phillips 66 (NYSE: PSX) Set A $2 Billion Capital Investment Budget For 2023

Phillips 66 (NYSE: PSX) inches up in pre trading session on Tuesday as the company set a $2 billion capital investment budget for 2023, up from its previous year’s plan. The corporation intends to invest $1.1 billion in expansion projects, with half of the money going toward low-carbon initiatives. The operating capital will be $865 million.

Global economies are progressively shifting to greener energy sources. As a result of the pressure to address climate change on numerous fronts, fossil fuel players have continually increased investments in renewables and low-carbon fuels.

Phillips 66 will invest $1.1 billion in refining, including $389 million for programs related to reliability, safety, and the environment. $729 million will be set aside for refining expansion expenditures, which will include converting its San Francisco refinery into one of the world’s largest renewable fuel plants. At the facility, the conversion will minimize emissions and create low-carbon transportation fuel.

The corporation will invest $639 million in the midstream industry, with $310 million going toward growth initiatives and $329 million going toward sustainability. The expansion financing will be used to strengthen the company’s integrated NGL value chain from wellhead to market.

The capital program also supports Phillips 66’s promise to return $10-$12 billion to shareholders through dividends and share repurchases between the second half of 2022 and the end of 2024.

In the last three months, the company’s stock has outperformed the industry. The stock has increased 13.8% compared to the industry’s 8.3% increase.

HP is a prominent land and offshore drilling contractor in the Western Hemisphere, with the most modern and efficient drilling fleet. HP’s adjusted earnings of 27 cents per share in the fiscal third quarter of 2022 above the Zacks Consensus Estimate of 5 cents.

Helmerich & Payne’s profits are predicted to increase by 277.8% in 2022. HP has a solid balance sheet, with $542.3 million in long-term debt. When compared to many of its counterparts that are heavily in debt, the company’s debt-to-capitalization ratio is just 16.6%.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Barrick Gold Corp (NYSE: GOLD) Executive Rules Out Counterbid for Australia’s Newcrest

Barrick Gold Corp (NYSE: GOLD) inches down on pre trading session on Tuesday as The company's chief executive has ruled out a counterbid for Australia's largest gold producer, Newcrest Mining (OTCMKTS: NCMGY), after the world's largest gold producer, Newmont...

Solar Energy Stocks Regains Prime Time Show: VivoPower International (NASDAQ: VVPR), NYSE:NOVA, NASDAQ:SEDG

VivoPower International PLC (NASDAQ: VVPR) jumped around 5% in pre trading session on Monday as it is delighted to share an update on Tembo e-LV B.V., its fully owned subsidiary, including strategic investments, finance, and development (Tembo). The Design Services...

Coinbase Global Inc. (NASDAQ: COIN) Faces $3.6 Million Fine on Failure of Proper Registration in the Netherlands

Shares of Coinbase Global Inc. (NASDAQ: COIN) surges over 2.14% in pre trading session on Thursday as Due to the U.S. cryptocurrency exchange Coinbase's failure to get the proper registration in the Netherlands before to providing services, the Dutch...

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