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Silvercorp really moving today!
Boy, is Silvercorp moving up today. It's up about 14% as I write this and showing really good strength. The company used to be one of my favorite picks when it was doing well and it will come back I am sure of that. The fantastic management team there has done a great job of becoming a low cost producer in China.
Put it on your watch list for sure. More to come in the next few days.
ExxonMobil Executive: Low Oil Price Not Affecting Co Invest Plans
LONDON -(Dow Jones)- Current low oil prices aren't affecting ExxonMobil Corp.'s (XOM) spending plans, a company executive said Monday.
"The lower price environment is having no impact in terms of our investment," Russell Bellis, ExxonMobil's exploration director for Europe, Middle-East and North Africa told a conference.
When doing budget planning "we never envisioned prices like we had last year" where the oil price peaked at $147 a barrel, he said. Prices have since fallen to around $40 a barrel.
Asked if the sharp price drop could lead to bankruptcy for oil service companies, Bellis said he expects "viable contractors to continue to supply the industry." But he said "there may be some consolidation and some of them may go out of business."