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$EGN said its full year production guidance increased 2% to 54 MBOE per day. The company continued to increase its 2017 oil hedge position in 2Q16 by adding 3-way Collars for 1.1MM barrels of oil production at an avg. call price of $65.67 per barrel, avg. put price of $45 per barrel and avg. short put price of $35 per barrel.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."