STORY: “We do own some because valuations have been depressed and I think what we want to see as an investor quite frankly is more consolidation. And I think we’ll see it,” adds Cipolloni.
He also points out that earnings so far from the energy sector have not met expectations. That is a contrast to overall market where 83% of companies have beat earnings estimates, according to data compiled by LSEG on Friday. There are 114 S&P 500 companies scheduled to report this week.
