Occidental Petroleum and Ardmore Shipping are both benefiting from higher oil prices.

ASOS PLC (LSE:ASC) has agreed to sell its Lichfield fulfilment centre to Marks and Spencer Group PLC (LSE:MKS) as the online fashion retailer continues efforts to strengthen its balance sheet and cut costs. The group said the £67.5 million disposal will generate net proceeds of at least £66 million and annual cash savings of about £6 million from lower rent and occupancy costs.

Tom Yeung here with your Sunday  Digest.

Ardmore Shipping NYSE: ASC reported higher first-quarter adjusted earnings and raised its dividend payout ratio, while management said disruption in the Middle East is tightening an already firm product tanker market and accelerating momentum into the second quarter.

Ardmore Shipping is upgraded to buy following a surprise doubling of its dividend payout ratio to 66% of earnings. ASC's robust financial position, low leverage, and asset sales at record valuations support capital returns and future fleet growth. Q2 MR tanker rates near $50,000/day drive expected annualized dividend yields close to 20% and EPS around $1.25.

Ardmore Shipping Corporation (ASC) Q1 2026 Earnings Call Transcript

HAMILTON, Bermuda, May 7, 2026 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore", the "Company" or "we") today announced results for the three months ended March 31, 2026. Highlights and Recent Activity Reported Adjusted earnings and net income attributable to common stockholders of $23.6 million for the three months ended March 31, 2026, or $0.58 Adjusted earnings per basic and diluted share, compared to Adjusted earnings and net income attributable to common stockholders of $5.6 million, or $0.14 Adjusted earnings per basic and diluted share for the three months ended March 31, 2025.

HAMILTON, Bermuda, April 29, 2026 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company") today announced that the Company plans to announce its first quarter earnings before the market opens on Thursday, May 7, 2026 and will host a conference call later in the day at 10:00 a.m. Eastern Time.

Signed contracts for the construction of two option two 40,500 dwt IMO2 product/chemical tankers Doubling dividend payout ratio to two-thirds of adjusted earnings, effective 1Q 2026 Agreed sale of one 2014-built MR tanker for $35.5 million with June delivery MR Spot TCEs of $33,700 per day for 1Q 2026 and fixed $50,000 per day in 2Q 2026 to-date HAMILTON, Bermuda, April 29, 2026 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company") today provided the following update on capital allocation, vessel sale, and latest TCE guidance. Fleet Investment The Company signed contracts for the construction of two highly-efficient and versatile 40,500 dwt Handysize product/chemical tankers at Wuhu Shipyard, at a price of $44.9 million per vessel, inclusive of approximately $3 million for full IMO2 specification and MarineLine tank coatings.

- 13-week U.S. Phase II study is evaluating the efficacy, safety and tolerability of oral small molecule GLP-1R agonist ASC30, a once-daily tablet, in 100 participants with diabetes. - Topline data from the Phase II study are expected in the third quarter of 2026.