News & Events zu California Resources Corp (CRC)CRCCalifornia Resources Corp

S&P 500 Futures Slightly Lower, Oil Prices Remain Elevated

Stock futures are slightly lower to kick off the week after the S&P 500 closed at a record high Friday. Investors are balancing strong corporate earnings and optimism around AI spending against renewed uncertainty over the Strait of Hormuz and the Federal Reserve's interest-rate outlook.Iran is saying it is nearing an agreement with Oman on new shipping lanes but maintaining conditions that could delay a broader reopening. Oil has consequently remained elevated, with Brent around $84 a barrel and WTI around $78.The market is also digesting last week's unexpectedly weak July jobs report, which showed payrolls fell by 23,000 and included substantial downward revisions to prior months. The report reduced expectations for a September Fed rate hike, but the outlook remains uncertain because inflation data due this week could complicate the picture. Investors will get the July CPI report Tuesday, followed by the PPI report later in the week.Despite the softer labor data, the broader earnings backdrop remains supportive. Reuters reported that about 85% of S&P 500 companies reporting results have exceeded earnings expectations, while aggregate second-quarter profits are running roughly 51% above the prior year.In pre-market trading, S&P 500 futures fell 0.08%, Nasdaq futures fell 0.10% and Dow futures fell 0.20%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Bowman Consultingup 55% after entering into a definitive agreement to be acquired by Bernhard Capital Partners for $43.00 per shareHPEup 5% after Morgan Stanley upgraded the stock to Overweight with a price target of $69, down from $71GameStopup 1% after Bloombergthe company is considering withdrawing its $56B bid for eBayUP AFTER EARNINGS -Berkshire Hathawayup 1%DOWN AFTER EARNINGS -Lincoln Educationaldown 4%California Resourcesdown 1%LOWER -Verisk Analyticsdown 6% after Reutersthe company has been ordered by a Delaware judge to try to complete its $2.35B acquisition of AccuLynx, an order coming in over seven months after Verisk pulled the plug on the dealInteldown 4% after announcing a $15B underwritten public offering of common stockAppledown 1% after Jefferies downgraded shares to Underperform with a price target of $263.66, down from $285.56eBaydown 1% after Bloomberg reported Ryan Cohen's GameStopis considering withdrawing its takeover bid

CRC Lowers 2026 Capital Expenditure Outlook to $370M-$390M

The company said, "CRC reaffirmed its full-year 2026 total capital outlook and reduced expected full-year 2026 drilling, completions and workover capital by $10 million to $370 million to $390 million while targeting approximately 1% entry-to-exit gross production growth. Stronger operating efficiencies across the portfolio, together with the impact of lower estimated oil prices on production-sharing contracts, provide increased confidence in achieving these targets and strengthen the Company's long-term outlook."

California Resources Completes First CO2 Injection at Carbon TerraVault I

California Resources has achieved the first landmark carbon dioxide injection at Carbon TerraVault I. "First injection at CTV I demonstrates that California can lead on climate solutions that are practical, scalable and cost-effective," said CRC President and CEO Francisco Leon. "This project reflects years of technical work, rigorous regulatory review, and collaboration with state and federal agencies to deliver real emissions reductions while strengthening California's energy resilience."