Friday’s Hot Stocks: Citigroup, Wells Fargo, BP, More

Schlumberger Wins Contract

Schlumberger Limited. (NYSE:SLB) is in the spotlight after its OneSubsea subsidiary won a contract from Australia’s Woodside Petroleum. The contract, which has a total value of $300 million, involves the procurement, construction, and engineering of the Greater Enfield project in offshore Western Australia. Schlumberger shares have rallied by 15% year-to-date, largely on the back of more bullish energy sentiment. Of the 766 active funds that we track, 56 owned $1.31 billion worth of positions in Schlumberger Limited. (NYSE:SLB) as of March 31, compared to 51 funds with $1.92 billion in holdings respectively on December 31.

T-Mobile Rides Pokemon Go’s Coattails

Everybody’s favorite carrier T-Mobile US Inc (NASDAQ:TMUS) is characteristically taking advantage of the Pokemon Go craze by offering its users free, unlimited data for the augmented game for a full year beginning July 19. Due to its data intensive nature, many users have complained that Pokemon Go uses too much bandwidth. Although T-Mobile won’t make any money with its new promotion, it will likely garner new subscribers and win more loyalty from existing users for its program. That could translate into more profits in the long run. Shares of T-Mobile are up by 12% year-to-date. 52 funds in our system had a long position in T-Mobile US Inc (NASDAQ:TMUS) at the end of the first quarter.

BP to Invest More in Argentina

According to Reuters, BP plc (ADR) (NYSE:BP) subsidiary Pan American Energy LLC, is planning to invest $1.4 billion in upstream operations in Argentina this year. The plans include investing $900 million in Golfo San Jorge and investing another $300 million in the unconventional plays of Neuquen province. Given its unconventional shale gas reserves, Argentina has substantial production growth potential in the years to come. The number of funds in our database with holdings in BP plc (ADR) (NYSE:BP) rose by two quarter-over-quarter to 34 as of the end of March.

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