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Stock Market & Financial Investment News

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February 7, 2013
06:22 EDTRDS.A, GE, CVX, RIGDeep water drilling halted by U.S. over faulty bolts, Bloomberg reports
From the the Gulf of Mexico to Brazil, deep water oil exploration has been disrupted by the discovery of faulty bolts used in safety equipment, reports Bloomberg. Companies such as Chevron (CVX), Royal Dutch Shell (RDS.A) and Transocean (RIG) said they have been directed by U.S. regulators to suspend work aboard rigs that employ GE (GE) devices connecting drilling tubes to safety gear and the seafloor. The equipment must be retrieved so defective bolts can be replaced, said the U.S. Bureau of Safety and Environmental Enforcement. Reference Link
News For A;RIG;GE From The Last 14 Days
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March 26, 2015
07:25 EDTGEThe Economist to hold a forum
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06:46 EDTGEGeneral Electric raises Lufkin job cuts to 575, Bloomberg says
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March 24, 2015
11:13 EDTGEGeneral Electric's Intelligent Platforms business awarded contract by Air Force
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09:10 EDTADako announces collaboration agreement with Amgen
Dako, an Agilent Technologies (A) company, announced a new Master Collaboration Agreement with Amgen (AMGN). The expanded collaboration will allow both companies to benefit from knowledge-sharing within the field of drug-diagnostic research and development in general, and in relation to companion diagnostic products in particular. The financial details of the agreement were not disclosed.
March 23, 2015
15:44 EDTRIGTransocean sees 2015-2018 newbuild CapEx at $1B-$1.8B per year
Transocean currently forecasts 2015-2018 newbuild CapEx at $1B-$1.8B per year. To improve fleet quality, Transocean said it will divest or scrap non]core assets and invest in high]specification rigs. Transocean says exploration successes support long]term ultra]deepwater demand. Market conditions are currently challenging and the rig market, including ultra]deepwater, is temporarily oversupplied, Transocean added. Continued progress on margin improvement initiatives help mitigate deteriorating market conditions with objective of about $800M in margin improvement by year]end 2015. Transocean said it will remain "disciplined and prudent" in terms of capital investment. Information from slides for the company's presentation at the Scotia Howard Weil Energy Conference.
06:06 EDTGEAres Management, GE Capital invests in package supporting KKR acquisition
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06:03 EDTGEU.S. Multi-Industry sector downgraded to Neutral at Barclays
Barclays downgraded the U.S. Multi-Industry space to Neutral from Overweight saying rising headwinds could limit share upside to mid-single-digit levels in 2015, with only slight improvement in 2016. The firm believes the credit cycle is peaking and views the U.S. Dollar strength along with lower oil prices as headwinds. Concurrent with sector rating change, Barclays downgraded Dover (DOV), Grainger (GWW), Xylem (XYL) and WESCO (WCC) to Equal Weight from Overweight. It also upgraded Tyco (TYC) to Overweight from Equal Weight and Lennox (LII) to Equal Weight from Underweight, calling both defensive names in the space. The firm is also "comfortable" owning General Electric (GE), Honeywell (HON), Sensata (ST) and HD Supply (HDS) at current levels. It prefers waiting for pullbacks to buy shares of 3M (MMM).
March 20, 2015
07:19 EDTRIGWhite House expected to unveil fracking rules today, WSJ says
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March 19, 2015
13:00 EDTRIGOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
11:38 EDTGEGE Marine announces Reinauer purchases two diesel engines, gearboxes
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11:24 EDTRIGStocks with call strike movement; X RIG
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09:20 EDTRIGOn The Fly: Pre-market Movers
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07:50 EDTRIGTransocean reiterated as a Sell, target to $11 at Goldman
After the close, Transocean announced that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI for the Transocean Amirante was terminated due to the deteriorating security situation in Libya. The firm said these two announcements are indicative of the very weak contracting environment. Goldman reiterates its Sell rating on Transocean and lowered its price target to $11 from $12.
06:10 EDTGEPhilips planning to spin off lighting business in IPO in 1H16, WSJ reports
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March 18, 2015
16:28 EDTRIGTransocean provides fleet update summary
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10:06 EDTGEGE to install water solution during planned outage at Alaska power plant
GE announced it will commission a reverse osmosis mobile water filtration system at the Golden Valley Electric Association coal-fired power plant in Healy, Alaska. The GE system will provide the plant with clean water during a planned outage to upgrade the plant's water treatment system and environmental controls and facilitate the start up of Unit 2. The total power output of the facility once Unit 2 is online will be 80 megawatts. The two-unit station is located approximately 300 miles south of the Arctic Circle. The GVEA Healy plant will require GE's mobile water filtration system for approximately 90 days while work is being completed.
08:31 EDTAAgilent names president and COO Mike McMullen as CEO
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07:02 EDTGEExterran nominates five new directors to board
Exterran Holdings (EXH) announced that its Board of Directors has nominated the following individuals for election to the Exterran Holdings Board at the Company’s 2015 Annual Meeting of Stockholders on April 28: Anne-Marie N. Ainsworth – former President and CEO of the general partner of Oiltanking Partners, L.P. (OILT); Frances Powell Hawes – independent financial consultant and former CFO of NCI Building Systems (NCS); James H. Lytal – independent energy consultant and former President of Gulfterra Energy Partners LP; Richard R. Stewart- former President and CEO of GE Aero Energy (GE); and Ieda Gomes Yell – Managing Director of Energix Strategy Ltd. and former President of BP Brazil (BP). “In November 2014, we announced a plan to separate Exterran’s international contract operations, international aftermarket services and global fabrication businesses into an independent, publicly traded company in the second half of 2015,” said Mark Sotir, Executive Chairman of the Board. “Our Board has nominated these additional well qualified director candidates in anticipation of certain of Exterran’s directors resigning from the Board at the time of the separation in order to join the board of directors of the new publicly traded company. We have not yet reached a final determination regarding which directors will remain on Exterran’s Board and which directors will join the board of directors of SpinCo at the time of the separation.”
06:43 EDTGEMarket convinced GE is dead money, Reuters columnist says
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06:36 EDTGEBoeing turns to cargo jets to overcome West coast port disruptions, WSJ says
Boeing (GE) and its suppliers -- including General Electric (GE) -- have turned to using large Ukrainian "Antonov" cargo jets to overcome supply disruptions at U.S. West coast ports, reports the Wall Street Journal, citing statements by Boeing Commercial CEO Ray Conner, who said disruptions continued even after the ports reached a deal earlier in March. "We’re still dealing with the congestion of all the things that are stuck in those ports right now," added Conner. A Boeing spokesperson said there had been "no effect" on deliveries to airlines. Reference Link
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