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News Breaks
January 24, 2014
07:43 EDTRIG, ATW, RDC, DO, ESV, HERO, NEOffshore Drilling sector cut to Underweight at Wells Fargo
Wells Fargo downgraded the Offshore Drilling sector two notches to Underweight from Overweight saying it sees the potential for a value trap in 2014. Wells sees the possibility for more serious rate cutting as the prospect for idle time increases. Within the sector, Wells downgraded shares of Diamond Offshore (DO), Ensco (ESV), Hercules Offshore (HERO), Noble Corp. (NE) and Transocean (RIG) to Market Perform from Outperform. The firm keeps Outperform ratings on Atwood Oceanics (ATW) and Rowan Companies (RDC).
News For DO;ESV;HERO;NE;RIG;ATW;RDC From The Last 14 Days
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July 31, 2014
05:21 EDTESVEnsco reports Q2 EPS ex-items $1.58, consensus $1.32
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July 30, 2014
17:15 EDTNENoble Corp. reports estimated contract backlog $13.4B at June 30
Compared to $14.3B at March 31, reflecting a reduced pace of customer contractual activity during the first half of 2014.
17:14 EDTNENoble Corp. reports Q2 EPS 91c, consensus 65c
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17:05 EDTATWAtwood Oceanics reports Q3 EPS $1.11, consensus $1.08
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15:31 EDTNENotable companies reporting after market close
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July 25, 2014
18:00 EDTNEParagon Offshore Ltd. to replace Intevac in S&P 600 as of 8/1 close
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July 24, 2014
06:23 EDTDODiamond Offshore declares special cash dividend of 75c per share
Diamond Offshore Drilling announced that the company has declared a special quarterly cash dividend of 75c per share of common stock and a regular quarterly cash dividend of 12.5c per share of common stock. Both dividends are payable on September 2, to shareholders of record on August 6.
06:22 EDTDODiamond Offshore reports Q2 EPS 65c, consensus 56c
Reports Q2 revenue $692.24M, consensus $684.42M.
July 23, 2014
07:28 EDTHEROHercules Offshore: Q3 results likely to be impacted by operational challenges
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07:27 EDTHEROHercules Offshore: Q2 results reflect slowdown in domestic drilling activity
Also cites idle timing on certain international rigs. The slowdown in the U.S. Gulf of Mexico has largely been driven by significant property transfers and consolidation among our customer base, which has led to disruptions in their respective drilling programs. The company said the latest discussions with various domestic customers suggest activity levels will rebound late this year. In the meantime, the company said it has taken proactive measures to reduce costs, including our recent decision to postpone the regulatory survey on one of our domestic rigs until visibility improves. Dayrates remain firm in the U.S. Gulf of Mexico, as stable crude oil prices support customer economics.
07:11 EDTHEROHercules Offshore reports Q2 EPS 4c, consensus 1c
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July 21, 2014
16:08 EDTRDCBlue Harbour Group reports 6.5% stake in Rowan Companies
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