Oil could slide further, but where’s the bottom?

“What you’re going to see is the market really trade lower and press the issue of price on OPEC ahead of their meeting at Thanksgiving,” said John Kilduff of Again Capital.

Kilduff said while Saudi Arabia has said it would cut prices to preserve market share, a report earlier from Reuters added confusion in the market because it said Saudi Arabia reduced exports slightly in September despite higher production.

Read MoreOil near $86 on strong supply, Ebola case

Oil has been hit by the double whammy of strong supply and weakening demand growth. In addition to a more than 7 million barrel build in U.S. crude stocks last week, demand for products like gasoline, heating oil, and distillates are also falling, which impacts the price of crude used to make those products.

“I think products are dragging down the crude price,” said Jeff Grossman of BRG Brokerage. “When demand for products drop, it takes crude down right along with it.”

Read MoreNew Saudi reality: OPEC isn’t a monopoly anymore

Traders have been grappling for weeks with the question of whether or not the bottom is in for crude.

“I thought we had bottomed—honestly I thought crude would be trading around the $83 level right now,” Grossman said. “But remember, if we close under $80, we’re definitely going lower…maybe $75.”

Some traders also pointed to reports of the latest case of Ebola in New

Article source: http://www.cnbc.com/id/102119448

GoPro stock’s going off a cliff: Analyst

Uerkwitz has a “sell” rating on the stock and a price target of $45 per share, or about 40 percent lower from its $72 range. Oppenheimer makes a market in shares of GoPro.

Consumers bought 24 million camcorders in 2010, dropping to 13 million units last year, he added.

Read MoreAmazon earnings miss an ‘opportunity': Guy Adami

“If you take GoPro out of it, it’d have been even a lot worse,” he said. “Smartphones are taking a lot of share of the video capture market.”

Uerkwitz said GoPro could face headwinds trying to expand its reach.

“Where GoPro’s done extraordinarily well is really on action videos. So, if you need a camera to log a bike ride, your skiing, your surfing, GoPro is by far the best choice to do that,” he said. “To take pictures of your kids, to share on Facebook, we think it’s much, much easier to use your smartphone.”

OptionMonster’s Pete Najarian noted GoPro’s market under-penetration in Asia and said the company had room to grow.

Read MoreNXP CEO: We’re in more than just smartphones

“I think Act One is not done, and I think Act Two is even better,” he said. “And it’s very much like the iPhone market, where you always have a new iteration.”

Mike Murphy of Rosecliff Capital said that GoPro shares could be worth playing for a bounce following a

Article source: http://www.cnbc.com/id/102119624

Lower oil not forcing companies to cut production

Many of you have asked me when the oil companies are going to cut production and capital expenditures in light of weak oil prices. We seem to have our answer: not yet. But there is clearly some nervousness and there is already talk of belt-tightening.

Cabot Oil Gas (COG), very big in the Marcellus and Eagle Ford shale, this morning not only said they were not cutting, but that Q4 production would be increasing. They also reiterated 2015 production growth targets of 20 to 30 percent, though they are dropping one drilling rig in the Marcellus shale. Moreover, 2015 capital expenditure guidance of $1.53 to $1.63 billion is just slightly below street consensus.

Sure doesn’t sound like much belt-tightening, but these numbers are pretty optimistic. It’s very clear that the big EP firms, as well as the oil drillers that are dependent on the capital expenditures from the EP firms, are betting that oil prices will rise, or at least stop dropping.

Read MoreLook what lower oil prices do to company profits

COG, for example, is assuming oil will average $88 a barrel in 2015, a far cry from the $80 it is currently trading at.

If you look at the earnings estimates for the drillers, and many of the EP companies…they are being slashed. Analysts, for once, are not waiting. They have been cutting estimates since oil started heading south several weeks ago.

This has broader implications

Article source: http://www.cnbc.com/id/102119857

Brits may get paid for losing weight

Illustration obesity incentives
Research suggests cash incentives make obese people lose weight.

Overweight Brits may soon find that shedding extra pounds would benefit their wallets as well as their waistlines.

The UK public health service, the NHS, wants to encourage companies to reward employees who lose excess weight and maintain a healthy lifestyle.

Dubbed the ‘pounds for pounds’ program by Britain’s biggest-selling newspaper The Sun, the initiative is part of a plan to tackle an NHS funding shortfall that is forecast to hit £30 billion ($48 billion) by 2020.

NHS executives plan to ask the cash-strapped government for £8 billion, but the rest will have to come from savings, including reducing spending on weight-related illness.

“Put bluntly, as the nation’s waistline keeps piling on the pounds, we’re piling on billions of pounds in future taxes just to pay for preventable illnesses,” the NHS said.

Almost two thirds of English adults are overweight or obese, with low income groups worst affected, according to official data.

Only a handful of countries, including the U.S., Mexico and Australia have higher obesity rates.

Employees who manage to curb their unhealthy habits could be offered cash, shopping vouchers or prizes. The NHS declined to comment on the likely size of the incentives, but said some of the funding could come from taxpayers.

Employers measure workers’ waistlines

Obese people are more at risk of cardiovascular disease, diabetes,

Article source: http://rss.cnn.com/~r/rss/money_latest/~3/inGtoIfwtXo/index.html

‘SNL’ interns reach $6.4 million settlement with NBCUniversal

snl intern lawsuit
Underpaid interns (not pictured here) on Saturday Night Live (pictured here) sued NBCUniversal and settled for $6.4 million.

Former interns from “Saturday Night Live” who filed a class action lawsuit over unpaid work have reached a $6.4 million settlement with NBCUniversal.

The settlement still has to be approved by a federal court in New York.

The lawsuit says that the interns “received no compensation or compensation at a rate less than the applicable hourly minimum wage” while working for NBCUniversal, according to court documents.

The lawsuit was filed last year by former interns Monet Eliastam, Jesse Moore, Alexander Vainer and Rheanna Behuniak against NBC Universal, which is owned by Comcast (CCV).

The interns accused NBCUniversal of illegally classifying them as interns exempt from federal and state minimum wage and spread-of-hours pay.

Related: Comcast grows revenue and customers

The net settlement amount will be divided among the unpaid interns. Court documents said the average payment will be $505.

But certain interns will be paid more. Depending on the court ruling, Eliastam could be paid up to $10,000, while Vainer and Behuniak could get paid up to $5,000. Other interns could get paid up to $2,000.

As part of the agreement, Eliastam can’t apply to work for NBCUniversal for at least five years.

The document did not say how many SNL interns were participating, but

Article source: http://rss.cnn.com/~r/rss/money_latest/~3/Gz7O1JtJ9Ww/index.html

P&G to spin off Duracell

duracell batteries
Procter Gamble is splitting off its Duracell battery unit after owning it for 10 years.

Procter Gamble is splitting off the Duracell battery business.

The company said it is acting to boost its share price and to reduce the number of shares outstanding. It hopes to give shares of a new stand-alone Duracell to its shareholders late next year, but said it will look at other options, including a possible sale of the company.

PG (PG) bought Duracell as part of its $57 billion purchase of Gillette in 2005, the largest acquisition in the company’s history. But PG, whose household products also include Tide laundry detergent and Pampers diapers, has said it is interested in trimming the number of brands it offers consumers.

In August, it said it would dump 90 of its smaller, less popular brands, leaving it with a portfolio of 70 to 80 brands. But those brands being dumped are all much smaller than Duracell.

Related: Breaking up is the latest Wall Street craze

Duracell is the market leader in battery sales ahead of Energizer (ENR).

The market for disposable batteries is seen as shrinking long term. Many devices that use batteries are designed to use less energy, such as LED flashlights. And other products that used to be major users of disposable batteries, such as transistor radios or

Article source: http://rss.cnn.com/~r/rss/money_latest/~3/izBpzJCsL_I/index.html

Tumblr CEO: I’m still in charge here

How to be a 28 year-old CEO  

When it comes to going from startup to billion dollar company, CEO David Karp says Tumblr did it the right way.

“I think and I hope that we were thoughtful about how we raised money, that we’ve been thoughtful about how we’ve grown the team,” Karp told CNNMoney.

Yahoo bought Tumblr last May for $1.1 billion. Karp says that Tumblr remains “precious” to him, and he maintains autonomy over the final product. But Yahoo (YHOO, Tech30) has given Tumblr the support it needs to grow faster.

For example, Yahoo CEO Marissa Mayer said this week that since the acquisition, Tumblr’s audience has grown by 40% to 420 million users, and the number of blogs has doubled to more than 200 million.

Related: Yahoo profit soars following the Alibaba IPO

Tumblr’s ad business has also grown strongly. Mayer said Tumblr will bring in $100 million in revenue next year, and finally turn a profit.

Karp says he’s happy about the progress the company has made under Yahoo. He says advertisers have a unique opportunity on Tumblr — to create a blog and tell a story in a different way than traditional banner ads allow. Yahoo also pushes Tumblr as a great platform for advertisers to reach the coveted millennial audience.

“We’re now a couple

Article source: http://rss.cnn.com/~r/rss/money_latest/~3/pmSBp0zq5SA/index.html