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Stock Market & Financial Investment News

News Breaks
January 22, 2013
06:50 EDTDODiamond Offshore downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse downgraded Diamond Offshore (DO) to reflect lower Petrobras (PBR) capex and bifurcation in deepwater. Price target lowered to $77 from $82.
News For DO From The Last 14 Days
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May 6, 2015
09:20 EDTDORBC Capital to hold events at OTC
RBC Capital Events at Offshore Technology Conference 2015 being held in Las Vegas on May 4-7.
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 29, 2015
06:59 EDTDOContract cancellations could pressure offshore drillers, WSJ says
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