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Stock Market & Financial Investment News

News Breaks
January 24, 2014
09:49 EDTCAMCameron stake taken by Jana Partners, Bloomberg reports
Bloomberg cites Jana letter to investors on Cameron stake.
News For CAM From The Last 14 Days
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August 28, 2015
10:02 EDTCAMOn The Fly: Analyst Downgrade Summary
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07:32 EDTCAMCameron downgraded to Hold from Buy at Societe Generale
Cameron (CAM) is being acquired by Schlumberger (SLB) in a $14.8B cash and stock deal.
August 27, 2015
10:19 EDTCAMOptions with decreasing implied volatility
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10:00 EDTCAMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Cameron (CAM) downgraded to Hold from Buy at Gabelli... Just Energy (JE) downgraded to Sector Perform from Outperform at RBC Capital... TerraForm (TERP) downgraded to Neutral at Baird... Williams-Sonoma (WSM) downgraded to Neutral from Buy at BofA/Merrill.
10:00 EDTCAMOn The Fly: Analyst Upgrade Summary
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09:27 EDTCAMCameron downgraded to Neutral from Buy at Global Hunter
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08:58 EDTCAMCameron downgraded to Sector Perform from Outperform at Scotia Howard Weil
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08:44 EDTCAMCameron downgraded to Hold from Buy at Gabelli
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06:46 EDTCAMCameron upgraded to Hold from Reduce at HSBC
Cameron (CAM) is being acquired by Schlumberger (SLB) in a $14.8B cash and stock deal.
August 26, 2015
16:26 EDTCAMOn The Fly: Top stock stories for Wednesday
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12:47 EDTCAMOn The Fly: Top stock stories at midday
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09:25 EDTCAMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), down 15.1%... Express (EXPR), up 9.8%... Frontline (FRO), up 10.4%... Chico's FAS (CHS), up 9.3%. ALSO HIGHER: Oshkosh (OSK), up 11.9% after being awarded a $6.7B contract by the U.S. Army... EMC Corporation (EMC), up 5.8% after Re/code reported that the board is considering a VMware (VMW) downstream merger proposal... Google (GOOG), up 4.6% after being upgraded to Conviction Buy from Neutral at Goldman... Ford (F), up 2.4% after Bloomberg reported that the company is considering returning production of Bronco and Ranger to the U.S. NOTABLE: Cameron International (CAM), up 45.4% after announcing that it will be acquired by Schlumberger (SLB). Schlumberger is down 1.9%. LOWER: WisdomTree (WETF), down 3.6% after being downgraded to Sell from Buy at Citi... Transocean (RIG), down 3.4% after proposing to cancel Q3 and Q4 dividends.
09:12 EDTCAMSchlumberger says no plans to divest anything from Cameron
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08:47 EDTCAMSchlumberger says the acquisition could increase sales base by 20%
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07:00 EDTCAMSchlumberger volatility elevated into acquiring Cameron in a $14.8B deal
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06:21 EDTCAMSchlumberger to host conference call
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06:11 EDTCAMCameron volatility elevated into Schlumberger agrees to acquire in $14.8B deal
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06:04 EDTCAMSchlumberger agrees to acquire Cameron in deal valued at $14.8B
Schlumberger Limited (SLB) and Cameron (CAM) jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of both companies. Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Based on the closing stock prices of both companies on August 25, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron's 20-day volume weighted average price of $48.45 per share, and a 56.3% premium to Cameron's most recent closing stock price of $42.47 per share. Upon closing, Cameron shareholders will own approximately 10% of Schlumberger's outstanding shares of common stock. The total transaction has a value of $14.8B as of August 25. Schlumberger expects to realize pretax synergies of approximately $300M-$600M in the first and second year, respectively. Initially, the synergies are primarily related to reducing operating costs, streamlining supply chains, and improving manufacturing processes, with a growing component of revenue synergies in the second year and beyond. Schlumberger also expects the combination to be accretive to EPS by the end of the first year after closing. The transaction combines two complementary technology portfolios into a "pore-to-pipeline" products and services offering to the global oil and gas industry. On a pro forma basis, the combined company had 2014 revenues of $59B. The transaction is subject to Cameron shareholders' approval, regulatory approvals and other customary closing conditions. It is anticipated that the closing of the transaction will occur in Q1 of 2016.
06:01 EDTCAMSchlumberger agrees to acquire Cameron in deal valued at $14.8B
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August 19, 2015
07:33 EDTCAMCameron and Schlumberger's Subsea to supply pump system for Stones development
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