I'd say talking about the weather is one of the lowest forms of human interaction, most days.
Recently the weather has been a lot more interesting, as Hurricane Harvey and now Irma take their toll on various economies.
Thursday was more of the same as Irma swept through the Caribbean, and Florida and the rest of the southeastern United States prepped for it to make landfall. Harvey was still on people's minds, as well, all while Hurricanes Jose and Katia gained steam.
Oil stockpiles have grown in the wake of Harvey and concerns over the duration that Gulf of Mexico refiners will see outputs reduced has made non-Gulf refiners all the more attractive.
Keep an eye out for non-Gulf Coast refiners such as Holly Frontier Corp. (HFC) , PBF Energy Inc. (PBF) , Marathon Petroleum Corp. (MPC) , Andeavor (ANDV) (formerly Tesoro Corp.) and CVR Refining LP (CVRR) , which were all up by end of day Thursday. If things continue to deteriorate in the Gulf these companies could be even bigger gainers.
While hurricanes were disrupting the oil industry, Tesla Inc. (TSLA) was hard at work making waves in the trucking industry. One Wall Street analyst believes Tesla's autonomous semi-trailer truck, due out later this month, could be a huge disruption to the trucking industry -- perhaps the biggest it's seen in decades. That's bad news for companies like Volvo AB (the owner of Mack Trucks) but could be a boon for freight company Schneider National Inc. (SNDR) , FedEx Corp. (FDX) , truckload carrier US Xpress Inc. and transportation and supply chain management provider Ryder System Inc. (R) . For the record experts opine that the truck could cost about $100,000 and will be approximately 70% cheaper to operate than a regular truck.
Will this disruption actually play out, or is the move more of a simple ploy to rack up driving miles to test Tesla's autonomous driving technology? We're leaning toward the latter.
For those outside New York you may not understand the importance of WFAN 660 The Fan. Well, the first 24-hour sports talk radio station (one that laid the foundation of much of your current 24/7 sports coverage), was the talk of Wall Street this week as one of its marquee personalities, Craig Carton, was arrested on fraud charges. The arrest puts an unwelcome spotlight on soon-to-be WFAN parent Entercom Communications Corp. (ETM) , which is currently in the process of acquiring CBS Radio Corp. (CBS) and WFAN. The station wasn't always the darling of the New York market but its first hit show occurred in 1988 when the station officially brought on fiery personality Don Imus (pictured above) to do the morning show. Imus had been on WNBC but came over to WFAN when the radio station was acquired. Today, Imus is long gone, now hosting his own show on ABC Radio, and in December the radio company will watch long-time host Mike Francesa retire. Carton's arrest and subsequent suspension are just another nail in the coffin of the once mighty voice of New York sports and a reminder that Entercom is buying into a really sketchy legacy business.
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