(Reuters) - Last year was an ugly one for the U.S. energy sector, and while the first trading day of 2015 pointed to continued weakness in oil, investors are starting to look to when the sector might start to recover.
Crude oil prices fell 42 percent in the fourth quarter. The fallout on corporate bottom lines isn't yet known, but forecasts suggest it will be severe. Energy sector earnings are seen down 19.6 percent in the fourth quarter, according to Thomson Reuters data; on Oct. 1, the consensus estimate was for growth of 6.4 percent.
While the flip in expectations is bearish, analysts say the dramatic decline in the stocks means some investors are going to start looking for buying opportunities.
"It won't surprise anyone to see profits fall, so if you have no exposure this is a good time to step in," said Scott Wren, senior equity strategist at St. Louis-based Wells Fargo Advisors, which has an "equal weight" rating on the sector. "The market is ready for bad news."
(Reuters) - The Baltimore Ravens used an unrelenting pass rush to shut down the vaunted Pittsburgh Steelers offense and advanced in the NFL playoffs with a 30-17 AFC wildcard victory on Saturday.
Joe Flacco passed for 259 yards and two second-half touchdowns with no interceptions to set up a clash with the top-seeded New England Patriots next Saturday in the divisional round.
"We've got a good football team and I think we're getting better every time we take the field," said Flacco, MVP of Baltimore's 2012 Super Bowl triumph, after the win in Pittsburgh.
Baltimore, who only made the playoffs after San Diego lost on the last day of the regular season, registered five sacks of Steelers quarterback Ben Roethlisberger and hurried him into numerous mistakes.
It was the first playoff win for the Ravens over AFC North foes Pittsburgh after three losses.
After more than 20 years without one, Los Angeles may get a football team. St. Louis Rams owner Stan Kroenke just bought 60 acres in the Los Angeles suburb of Inglewood to build an 80,000-seat NFL stadium. The stadium proposal is one of dozens that have been suggested to bring the Rams back to Los Angeles after the team left the city in 1994. However, Kroenke’s proposal marks the first one where the owner controlled enough land to build both a stadium and a parking lot. Kroenke has also made it clear he doesn’t like the St. Louis stadium. The proposal could pave the way for a move back to Los Angeles or put pressure on St. Louis to improve the Edward Jones Dome.
ARLINGTON, Texas -- This was Ndamukong Suh like we've never seen him before.
The Detroit Lions' season had come to an abrupt end Sunday with a heart-breaking 24-20 loss to the Dallas Cowboys in the opening round of the playoffs.
Suh is the big brute of the NFL, the bad boy that opponents love to hate. Many call him the dirtiest player in the league.
But shortly after the Lions had blown a 14-point lead by giving up the winning touchdown with 2:32 remaining, Suh went to the interview room, stepped up to the microphone and then completely broke down.
"I'm a little lost for words, but I respect having my teammates and this team," he said as the emotions started to pour out. "Just please leave it just to this game."
In other words, Suh didn't want to be asked about whether this was his final game as a Lion.
He can be a free agent next March and some suspect he could end up playing elsewhere next season.
Suh started to take some other questions, but it was tough for him. You could see it in his face and hear it in his voice.
The 305-pound bully on the field was actually starting to tear up.
"It's tough at the end of the day," he said. "It's tough.
"Honestly, I didn't expect this. This is what it comes down to."
At that point, Suh had to stop. He walked away from the microphone and exited the room.
Who knew Suh had a soft side?
And, for the skeptics and the Suh haters, yes, this all appeared to be totally sincere and from the heart.
No one is going to feel sorry for him because of his track record and reputation, but it was an interesting scene, and it wasn't over.
To everyone's surprise, Suh returned a few minutes later to finish the interview.
In the past, he hasn't even talked to the media after games, sometimes choosing to leave the locker room as fast as possible.
This time, despite the circumstances, he was coming back for more.
"I apologize," Suh said as he returned to the mic. "I'm just speechless."
Suh collected his thoughts and took some more questions.
"This team put it all out there," he said, when asked about the emotions he was feeling. "I didn't expect this outcome. It's sickening."
Suh sniffled frequently. He seemed dumbfounded that the Lions had lost, especially after leading 20-7 midway through the third quarter.
His team simply didn't finish, even though Suh said they had a "hell of a week of practice."
"This just doesn't make sense," he said. "That's what it comes down to, it doesn't make sense to me. That's part of life."
Some of the mistakes that the Lions made irked Suh. He gave an example of a tackle he had missed on running DeMarco Murray that gave Dallas a first-and-goal.
"We definitely hurt ourselves with penalties and missed tackles," Suh said.
Earlier in the game, however, he had made back-to-back sacks that forced the Cowboys to settle for a field goal.
He just couldn't do enough to get his team -- and this franchise -- over the hump. The Lions have now lost eight straight playoff games dating back to 1991, the last two with Suh as their star defensive tackle.
While Suh felt he and the entire team could have done more Sunday, Suh took a moment to give proper credit to the Cowboys.
"The other team is great," he said. "Great running game, great offensive line, great quarterback."
But Suh's mind was mostly on his own team, particularly the defensive linemen.
"Closest group I've had in five years," he said. "We challenge each other every single week in practice. It was a lot of fun with them dudes."
And finally, as the session was about to end, Suh was asked the question that's on everybody's mind.
How will this all affect his decision on whether he will return to the Lions or not?
Doug Marrone, who opted out of his contract with the Buffalo Bills on Wednesday and interviewed with the New York Jets on Saturday, reportedly could be their next head coach by the end of the week.
Jason La Canfora of CBSSports.com reported that all signs point to Marrone as the Jets' next coach. According to the report, the Jets general manager search also includes candidates who have ties, even strong ones, to Marrone.
Owner Woody Johnson and consultants Ron Wolf and Charley Casserly met with Marrone as the Jets seek a replacement for Rex Ryan, who was fired on Monday along with general manager John Idzik.
Johnson is reportedly prepared to have the general manager search process wrapped up by the end of this week as well. One of the top candidates is Mike Maccagnan, the Houston Texans director of college scouting, who is expected to be interviewed Monday.
Maccagnan and Marrone spent time together in the long defunct World League of American Football, with Maccagnan signing Marrone to be the quarterback of the London Monarchs back in 1991.
Rick Mueller, the Philadelphia Eagles director of pro personnel who will meet the Jets about their GM job, worked with Marrone for four years in New Orleans and Cleveland Browns personnel man Bill Kuharich was with the Saints when they signed Marrone as a player. Saints personnel executive Ryan Pace, another candidate for the Jets, was with Marrone when the coach was a member of Sean Payton's staff.
According to reports, Marrone is the fourth candidate to interview for the Jets' head-coaching opening. Johnson, Wolf and Casserly returned from Seattle on Friday night after talking to Seahawks defensive coordinator Dan Quinn and assistant head coach-offensive line coach Tom Cable. The Jets also have interviewed Anthony Lynn, who was running backs coach and assistant head coach under Ryan.
Other candidates mentioned include San Diego Chargers offensive coordinator Frank Reich, Arizona Cardinals defensive coordinator Todd Bowles and Baltimore Ravens offensive coordinator Gary Kubiak.
According to CBSSports.com, the Jets have an interview scheduled with San Diego Chargers offensive coordinator Frank Reich and they would like to speak to Baltimore Ravens offensive coordinator Gary Kubiak and Arizona Cardinals defensive coordinator Todd Bowles.
In two seasons with the Bills, Marrone went 15-17, including a 9-7 record in 2014, the Bills' first winning season since 2004. He chose to opt out of his contract and will be paid his $4 million 2015 salary from the Bills in addition to the salary from any other job he lands.
Marrone, a native of the Bronx, was the Jets' offensive line coach under Herm Edwards from 2002-05.
“The AFC tabled a non-disclosure agreement for the review and signing by the APNU, with the clear understanding that on the return of the signed document, the AFC would release to APNU our draft Memorandum of Understanding (MOU), which would form the template for our negotiations,†Patterson said.
He said the AFC is prepared to issue its MOU to APNU within 24 hours, once the Main Opposition Party signs the non-disclosure agreement.
“Negotiations can start within 48 hours thereafter, which could be as early as Wednesday, January 7, 2015,†he said.
Patterson added that in the meantime, AFC continues to engage “serious-minded groups and individuals,†and is in the process of finalizing its campaign team and strategy.
WASHINGTON - The United States on Monday stood by plans to halve the number of its troops in Afghanistan this year and reduce them further in 2016 following Afghan President Ashraf Ghani's suggestion that President Barack Obama review his deadline.
(Reuters) - Asian shares tumbled on Tuesday as sliding oil prices and political uncertainty in Greece forced investors out of risk assets and into the safety of government bonds.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 1.0 percent, retreating almost halfway from its recovery from a 10-month low hit last month.
Japan's Nikkei .N225 dropped 2.4 percent. All markets in the region were under water with even high-flying mainland Chinese shares .CSI300, which hit 5-1/2-year highs earlier in the session, pulling back.
The unrelenting slide in oil prices showed little signs of slowing in the new year, plunging as much as 6 percent on Monday to hit their lowest since spring 2009, as increased output of U.S. shale oil has exacerbated a global supply glut.
"Falls in oil prices are going beyond many people's expectations. This will put pressure on the earnings of U.S. energy firms," said Hirokazu Kabeya, senior strategist at Daiwa Securities.
U.S. crude crashed below $50 a barrel on Monday while benchmark Brent tumbled LCOc1 under $53 after data showed Russian oil output at post-Soviet era highs and Iraqi oil exports near 35-year peaks.
