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Stock Market & Financial Investment News

News Breaks
June 4, 2014
09:57 EDTSTO, DODiamond Offshore announces contract termination on Ocean Vanguard
Diamond Offshore Drilling (DO) announced that a subsidiary has received notice of termination of its drilling contract for the mid-water semisubmersible Ocean Vanguard from Statoil ASA (STO), its customer for the rig. The contract provides for a dayrate of approximately $454,000 and was estimated to conclude in accordance with its terms in late February 2015. Diamond Offshore disputes Statoil's basis for terminating the contract and intends to defend its rights under the drilling contract.
News For DO;STO From The Last 14 Days
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May 4, 2015
11:35 EDTDOLoews says 'happy to buy' businesses in U.S. with foreign operations
Says conditions bad enough for rig prices to go down, says conditions have not been bad enough for long enough. Says markets "priced for perfection" stocks almost at new highs. Says "happy to buy" businesses in the U.S. with foreign operations. Says foreign markets "don't scare us," but not "fully familiar" with taxation, rules. Says "hunting ground" primarily in the U.S.
11:21 EDTDOLoews says looking for right deal at good price
Loews (L) says looking for right deal at good price. Says repurchases an important way Loews creates value for shareholders. Says cash can be a drag on short-term returns, but having flexibility to be opportunistic "has served shareholders well over long-term." Says offshore drilling a cyclical business, Diamond (DO) managed accordingly. Says "no doubt" that Diamond will withstand cyclical downturn. Says "not aware" of any distressed assets for sale at prices company would be willing to pay, but says Diamond "will be ready." Says "pleased" with CNA's (CNA) steady progress. Says CNA will be focused on improving underwriting performance. Expects Boardwalk (BWP) will draw down $300M subordinated debt facility from Loews later this year. Says "trouble is opportunity" re: drilling market. Comments made on the Q1 earnings conference call. Loews is fractionally higher in late-morning trading at $41.75.
06:15 EDTDODiamond Offshore reports Q1 EPS ($1.86), may not compare to consensus 43c
Reports Q1 revenue $620.06M, consensus $618.32M. Results for the quarter included a non-cash charge of $31M after tax, or $2.33 per share, associated with the impairment of eight drilling units, three of which are to be retired and scrapped. The company also recognized a charge during the quarter of $4M after tax, or 3c per share, related to restructuring and employee separation-related costs.
April 30, 2015
09:18 EDTSTOOn The Fly: Pre-market Movers.
UP AFTER EARNINGS: Glu Mobile (GLUU), up 28.2% after reporting first quarter results and deals with Tencent and Britney Spears... Civeo (CVEO), up 3.05... TASER (TASR), up 9.6%... Virgin America (VA), up 2.7%... Noble Corp (NE), up 1.8%... Statoil (STO), up 2.8%... Alpha Natural (ANR), up 3.6%... Exxon Mobil (XOM), up 1.4%... Phillips 66 (PSX), up 1.2%... NXP Semiconductors (NXPI), up 2.4%. ALSO HIGHER: Clicksoftware (CKSW), up 27.8% after being acquired by Francisco Partners... JetBlue (JBLU), up 1.4% after being upgraded to Outperform from Neutral at Credit Suisse... WuXi PharmaTech (WX), up 16.5% after receiving going private proposal. DOWN AFTER EARNINGS: Yelp (YELP), down 17.1%... Celgene (CELG), down 2.4%... STMicroelectronics (STM), down 11.4%... Harman International (HAR), down 9%... Potash (POT), down 2.4%... Generac (GNRC), down 7%... Nokia (NOK), down 8.7%... Baidu (BIDU), down 2.6%. ALSO LOWER: Inovio Pharmaceuticals (INO), down 18.1% after 9.5M share Spot Secondary priced at $8.00... Miller Energy (MILL), down 9% after receiving 'Wells Notice'... Scorpio Tankers (STNG), down 7.5% after 15M share Spot Secondary priced at $9.30... Advaxis (ADXS), down 6% after 2.8M share Spot Secondary priced at $19.00.
09:14 EDTSTOOn The Fly: Pre-market Movers.
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09:01 EDTSTOExxon begins oil production ahead of schedule at Kizomba Satellites Phase 2
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05:39 EDTSTOStatoil reports Q1 adjusted earnings NOK 22.9B vs. NOK 46B last year
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April 29, 2015
06:59 EDTDOContract cancellations could pressure offshore drillers, WSJ says
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