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Stock Market & Financial Investment News

News Breaks
February 27, 2013
07:17 EDTRIG, BP, HALBP argues Transocean, Halliburton should share spill blame, FT says
As a trial continues over the Deepwater Horizon spill, BP (BP) is repeating its contention that safety at the Macondo well was a "shared responsibility” of itself and its partners, including rig-owner Transocean (RIG) and supplier Halliburton (HAL), reported Financial Times. Reference Link
News For BP;RIG;HAL From The Last 14 Days
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February 22, 2015
11:59 EDTBPUSW to expand ULP oil strike
The United Steelworkers, USW, announced that it will expand its unfair labor practice strike, ULP, by launching a work stoppage tonight at midnight at the Motiva Enterprises refinery in Port Arthur, Texas. This refinery, a 50-50 joint venture between Shell Oil Company and Saudi Refining, produces more than 600,000 barrels per day. In addition, 24 hour strike notices were delivered at Motiva’s two Louisiana refineries in Convent and Norco as well as at the Shell Chemical plant in Norco. Capacity at these facilities is 235,000 and 238,000. These refineries are also jointly operated by Royal Dutch Shell and Saudi Refining, Inc. of Saudi Arabia. “The industry’s refusal to meaningfully address safety issues through good faith bargaining gave us no other option but to expand our work stoppage,” said USW International President Leo W. Gerard. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
February 20, 2015
07:37 EDTBPU.S. judge rejects BP request for lower fine per barrel, Reuters says
U.S. District Judge Carl Barbier has rejected BP's request for a maximum fine of $3,000 per barrel, upholding the maximum penalty of $4,300 per barrel, reports Reuters. The decision means the total fine for BP could reach $13.7B, though it is still unclear when a final decision will be reached. BP spokesman Geoff Morrell stated the company is considering its legal options. Reference Link
February 19, 2015
06:58 EDTBPU.S. oil prices tumble after inventory data released, Reuters says
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04:26 EDTRIGStocks with implied volatility movement; TSO RIG
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February 18, 2015
14:18 EDTRIGTransocean February volatility increases into Q4 and outlook
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10:05 EDTRIG, HALOn The Fly: Analyst Initiation Summary
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08:59 EDTHALSchlumberger, Halliburton, and Baker Hughes estimates cut at Goldman
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06:56 EDTRIGTransocean initiated with an Underperform at BMO Capital
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06:53 EDTHALHalliburton initiated with an Outperform at BMO Capital
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February 17, 2015
16:22 EDTRIGOn The Fly: Closing Wrap
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16:00 EDTRIGOptions Update; February 17, 2015
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13:18 EDTHALOmega Advisors gives quarterly update on stakes
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12:50 EDTRIGOn The Fly: Midday Wrap
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10:06 EDTRIGTransocean falls after cutting dividend, CEO departure, levels to watch
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08:39 EDTBPBP to hold a webcast on energy outlook
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06:59 EDTRIGTransocean price target lowered to $6 from $16 at Deutsche Bank
Deutsche Bank lowered its price target for Transocean shares to $6 after the company announced an 80% dividend reduction and the departure of its CEO. Deutsche says reducing the dividend frees up about $800M per year and that the move will likely be viewed positively since an elimination was a potential outcome. The firm, however, expects the company's free cash flow to remain negative for the "foreseeable future" and reiterates a Sell rating on the stock. Shares of the offshore driller are trading up 55c to $19.60 in pre-market trading.
06:58 EDTBPBrent oil reaches $62 per barrel, Reuters reports
Driven higher by Middle East turbulence, the price of brent crude oil reached $62 per barrel today, close to its 2015 high, according to Reuters. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
February 16, 2015
15:17 EDTRIGTransocean slashes dividend to 60c from $3.00, says CEO leaving
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14:25 EDTRIGTransocean to lower annual dividend to 60c per share
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10:29 EDTRIGTransocean announces departure of CEO Steven Newman
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