Oil prices were mixed in Asia today ahead of a US interest rate decision, with weak demand in an oversupplied market keeping a lid on any gains.
US benchmark West Texas Intermediate for October delivery was up five cents at $44.68 and Brent crude for October fell 16 cents to $47.98.
The cost of oil tumbled last week after Goldman Sachs slashed its price forecasts for next year in the face of a larger-than-predictable glut.
Among oil related stocks, Shares of Marathon Oil Corporation (NYSE:MRO), gained 0.73% to $15.09.
Deutsche Bank reiterated their buy rating on shares of Marathon Oil Corporation in a report published on Wednesday morning, Analyst Ratings Net reports. The brokerage presently has a $25.00 target price on the stock.
Marathon Oil Corporation operates as an energy company. It operates in three segments: North America Exploration and Production, International Exploration and Production, and Oil Sands Mining.
Shares of Nokia Corporation (NYSE:NOK), declined -0.61% to $6.51, during its last trading session.
Nokia Corporation, declared that it has obtained clearance from the Committee on Foreign Investment in the United States (CFIUS) for its projected acquisition of Alcatel-Lucent. With the conclusion of the CFIUS process and the formerly declared antitrust clearance by the U.S. Department of Justice, the companies have received the required regulatory approvals for the projected transaction in the United States.
Both companies will continue to work closely with the few remaining antitrust authorities in the relevant jurisdictions to conclude their regulatory reviews as quickly as possible. The projected transaction remains subject to approval by Nokia shareholders, Nokia holding over 50.00% of the share capital of Alcatel-Lucent on a fully diluted basis upon completion of the public exchange offer, receipt of the remaining regulatory approvals and other customary conditions. The projected transaction is predictable to close in the first half of 2016.
Nokia Corporation, together with its auxiliaries, provides network infrastructure and related services in Finland, the United States, Japan, China, India, the Russian Federation, Germany, Taiwan, Indonesia, Italy, and internationally.
Finally, Shares of Southwest Airlines Co. (NYSE:LUV), ended its last trade with 0.47% gain, and closed at $38.54.
Southwest Airlines Co. stated its August and year-to-date preliminary traffic statistics. The Company flew 10.3 billion revenue passenger miles (RPMs) in August 2015, a 7.5 percent improvement from 9.6 billion RPMs flown in August 2014. Available seat miles (ASMs) raised 7.6 percent to 12.1 billion in August 2015, contrast with the August 2014 level of 11.3 billion. The August 2015 load factor was 85.4 percent, contrast with 85.5 percent in August 2014. Based on results thus far in third quarter 2015 and current trends, the Company continues to estimate its third quarter 2015 operating revenue per ASM (RASM) will decrease about 1.0 percent, contrast with third quarter 2014.
For the first eight months of 2015, the Company flew 78.6 billion RPMs, contrast with 73.0 billion RPMs flown for the same period in 2014, an improvement of 7.6 percent. Year-to-date ASMs raised 6.7 percent to a level of 94.0 billion, contrast with 88.1 billion for the same period in 2014. The year-to-date load factor was 83.6 percent, contrast with 82.9 percent for the same period in 2014.
Southwest Airlines Co. operates passenger airlines that provide planned air transportation services in the United States and near-international markets. As of December 31, 2014, it operated 665 Boeing 737 aircraft; and had 12 Boeing 717 aircraft.
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