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Stock Market & Financial Investment News

News For BP;HAL From The Last 14 Days
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April 23, 2015
14:29 EDTBPBP sells North Sea gas pipeline system stake, Telegraph says
BP has agreed to sell a stake in the Central Area Transmission System, a North Sea gas pipeline system, for GBP324M, according to The Telegraph. Reference Link
April 22, 2015
07:52 EDTHALBaker Hughes price target raised to $78 from $72 at Susquehanna
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06:10 EDTBPBP CEO says has no appetite for megamerger, FT reports
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April 21, 2015
19:20 EDTBPBP looks to sell $2B in U.S. pipelines, storage terminals, Bloomberg says
BP has solicited potential buyers for four pipelines and one gas plant in the Gulf of Mexico, as well as 15 storage terminals along the East Coast and Midwest, reports Bloomberg, citing people familiar with the matter. The sources believe the assets could sell for as much as $2B. Bloomberg notes that the company may be pursuing a sale in order to fund drilling projects. Reference Link
15:44 EDTBPBP CEO says company has not been approached to be bought
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15:43 EDTBPBP CEO sees low oil prices for longer period of time
Commnents made during a CNBC interview.
12:59 EDTBPExxon Mobil CEO sees continued pressure on oil prices, WSJ says
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09:23 EDTHALHalliburton added to Conviction List, Baker Hughes removed at Iberia
Iberia prefers equity exposure of Halliburton (HAL) versus the merger arbitrage of owning Baker Hughes (BHI). The firm expects the merged company to better compete for integrated project management work and shore up weaker products and services.
09:12 EDTHALHalliburton price target raised to $61 from $52 at Susquehanna
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08:08 EDTHALBaker Hughes 'pleased with the progress' on planned combination with Halliburton
07:51 EDTHALHalliburton should be bought on any weakness, says Oppenheimer
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07:45 EDTHALHalliburton well positioned for industry upturn, says UBS
UBS said the oil services downturn is playing out as expected and that Halliburton (HAL) is well positioned for the eventual upturn. The firm cited the company's ability to maintain margins, synergies from its merger with Baker Hughes (BHI), and the potential for major share repurchases. UBS reiterated its Buy rating and raised its price target to $60 from $50 on Halliburton shares.
07:26 EDTBPBP preparing to defend against opportunistic takeover bids, Bloomberg says
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07:04 EDTHALHalliburton price target raised to $56 from $48 at RBC Capital
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April 20, 2015
10:00 EDTHALOn The Fly: Analyst Downgrade Summary
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09:28 EDTHALHalliburton on track to complete Baker Hughes transaction late in 2H15
Continues to target annual cost synergies of $2B.
09:24 EDTBPBP taking oil cargoes as payment from cash-strapped Iraq, Reuters reports
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09:24 EDTHALHalliburton will 'take hard look" at its operations
The company said it had reduced the company headcount by 9000 in last two quarters. Looking ahead, the company expects further charges to be significantly smaller. Expects Q2 corporate expenses of $75M, which will be the new quarterly run rate in 2015. Sees Q2 tax rate of approximately 26%. Cuts FY15 CapEx to $2.8B from $3.3B. Expects to see budget constraints in Mexico.
09:21 EDTBPAbengoa unit raided as part of EU bioethanol probe, Bloomberg reports
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09:18 EDTHALHalliburton says Q1 challenging quarter, with downturn being historically high
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08:43 EDTHALHalliburton downgraded at CLSA
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08:32 EDTBPBofA/Merrill European strategists hold an analyst/industry conference call
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07:21 EDTHAL, HALHalliburton downgraded to Underperform from Outperform at CLSA
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07:09 EDTHALHalliburton records $823M after-tax charge in Q1 due to energy downturn
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07:06 EDTHALHalliburton says visibility to depth, length of cycle remains uncertain
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07:02 EDTHALHalliburton says international business more resilient than domestic market
“Total company revenue of $7.1B for the first quarter was down 4% year-over-year, significantly outpacing a 19% global rig count decline, and represented industry-leading performance amidst a challenging commodity price environment. Our global customer base has responded by lowering activity levels and seeking price concessions, which has impacted our margins. As evident by the restructuring charges taken during the quarter, we are taking steps to help mitigate the ongoing impact. North America experienced an unprecedented decline in drilling activity during the first quarter, which drove pricing pressure and margin compression across all product lines. First quarter revenue declined 9% and operating income declined 54%, year-over-year, compared to a 21% reduction in the United States land rig count. Activity has dropped approximately 50% from the peak in late November and we expect to continue to see pricing pressure for our services until the rig count stabilizes. Our international business has been more resilient than the domestic market, with the international rig count down 9% from the peak last July. We continue to anticipate headwinds across all of our international regions this year, as operators reduce their budgets. Lower commodity prices are influencing our customers to re-evaluate asset economics and defer new projects,” said CEO Dave Lesar.
07:01 EDTHALHalliburton reports Q1 adjusted EPS 49c, consensus 37c
Reports Q1 revenue $7.05B, consensus $6.99B.
April 17, 2015
13:28 EDTHALHalliburton technical comments ahead of results
Since hitting lows in December of last year, the stock has been in a recovery uptrend. If the news is bullish, resistance levels to watch as potential upside objectives would be at $48.91 and then at $50.64. If the news is more bearish than traders appear to expect, support levels to watch as potential downside objectives would be at $43.47 which is the 50-day moving average, $41.59, and $40.59.
13:08 EDTHALHalliburton April weekly volatility elevated into Q1 and outlook
Halliburton April weekly call option implied volatility is at 4-, May is at 28, June is at 27, July and October is at 26; compared to 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 20.
08:29 EDTHAL, BPU.S. may be at, or near, peak oil output, WSJ says
New data and forecasts suggest lower crude prices are finally prompting U.S. energy companies to cut back their crude output, according to The Wall Street Journal, citing reports from OPEC, the DOE and North Dakota. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Publicly traded drillers and oil services companies include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link
06:33 EDTHALSources: Halliburton hires BofA, Deutsche Bank to sell assets, Reuters reports
According to sources, Reuters reports that Bank of America (BAC) and Deutsche Bank (DB) have been hired by Halliburton (HAL) to sell two assets that could be valued at up to $5B. Bank of America will work to sell some of Halliburton's Sperry Drilling business, including logging-while-drigging, directional drilling and measuring-while-drilling, while Deutsche Bank is mandated to sell Halliburton's drill bits businesses. Halliburton is seeking to divest some assets to ease regulators' antitrust concerns in its $35B merger deal with Baker Hughes (BHI). Reference Link
April 16, 2015
06:41 EDTBPGulf oil spill victims have received over $5B from BP fund, Reuters says
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April 15, 2015
08:58 EDTHALOil services stocks should be bought on dips, says BMO Capital
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06:16 EDTHALOil layoffs reach 100,000 and still going, WSJ reports
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April 14, 2015
10:01 EDTBPOn The Fly: Analyst Downgrade Summary
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09:20 EDTHALMorgan Stanley calls a bottom in Oil Services sector
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06:40 EDTBPU.S. shale forecast, Yemen fighting lift oil prices, Reuters says
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05:32 EDTBPBP downgraded to Neutral from Buy at Citigroup
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April 13, 2015
10:00 EDTBPOn The Fly: Analyst Downgrade Summary
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07:02 EDTBPBP downgraded to Neutral from Buy at BofA/Merrill
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