Why Goldman Sachs, Whiting, Nike, and More Are Making Headlines

Whiting Petroleum Corp (NYSE:WLL) is in the red today after Bloomberg reported that oil production in North Dakota fell below 1 million barrels/day for the month of August, the lowest total in over two years. Given that Whiting is a big producer in the Bakken region, the company’s growth production might not have increased very much for that duration. Whether the lower production trend will continue given the rise in WTI in September and October is another question, however. As WTI prices trend higher, many producers will hedge and have more risk-free production capability. 41 funds in our system were bullish on Whiting Petroleum Corp (NYSE:WLL) at the end of the second quarter, down by two quarter-over-quarter.

Last but not least, Nike Inc (NYSE:NKE) is capturing some attention today after the apparel maker announced an agreement to outfit English Premier League club Chelsea, in what the team called its “largest commercial deal in the club’s history.” According to some reports, Nike will purportedly sponsor Chelsea for around $70 million annually. 57 funds that we track were long Nike Inc (NYSE:NKE) at the end of June, a drop of seven funds from the end of March.

Disclosure: None