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Stock Market & Financial Investment News

News Breaks
March 21, 2013
12:47 EDTBP, HAL, SLB, RIG, CAMJudge dismisses claims against Cameron, Schlumberger, Huffington Post says
A federal judge yesterday dismissed claims against Cameron International (CAM) and Schlumberger (SLB) subsidiary M-1 related to the 2010 Gulf oil spill, according to The Huffington Post. The judge said he wasn't ready to rule on requests from BP (BP), Transocean (RIG), and Halliburton (HAL) that gross negligence and punitive damage claims against them also be dismissed, the website added. Reference Link
News For CAM;SLB;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 EDTSLB, RIG, HALOn The Fly: Analyst Initiation Summary
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08:59 EDTSLB, HALSchlumberger, 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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06:55 EDTCAMCameron initiated with an Outperform at BMO Capital
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06:54 EDTSLBSchlumberger initiated with an Outperform at BMO Capital
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06:53 EDTHALHalliburton initiated with an Outperform at BMO Capital
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February 17, 2015
18:17 EDTCAMJANA Partners gives quarterly update on stakes
NEW STAKES: NCR (NCR), Liberty Ventures (LVNTA), Solarcity (SCTY), Computer Sciences Corp (CSC), Salix (SLXP), and Applied Materials (AMAT). INCREASED STAKES: Hertz (HTZ), Valeant (VRX), Walgreens Boots Alliance (WBA), Rackspace (RAX), and HD Supply (HDS). DECREASED STAKES: AIG (AIG), Actavis (ACT), Charter (CHTR), AerCap (AER), and Energy Transfer Equity (ETE). LIQUIDATED STAKES: Equinix (EQIX), Cameron International (CAM), Dollar General (DG), QEP Resources (QEP), and Amgen (AMGN).
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
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