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Stock Market & Financial Investment News

News Breaks
January 15, 2013
07:22 EDTDRC, WFT, LUFK, FET, RDC, FTIOilfield Services & Equipment mergers likely to rebound, says Citigroup
Citigroup expects to see a pick-up in the number of Oilfield Services & Equipment mergers and acquisition deals in 2013. The firm sees the most likely takeover candidates as equipment manufacturing and deepwater focused stocks, namely Dresser-Rand (DRC), Rowan Companies (RDC), Lufkin (LUFK), FMC Technologies (FTI), and Forum Energy (FET). Citi also added Weatherford (WFT) as a prime takeover target for 2013 given the recent underperformance of shares.
News For DRC;RDC;LUFK;FTI;FET;WFT From The Last 14 Days
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June 29, 2015
18:04 EDTDRCS&P announces changes to the S&P 400, 600 indices
S&P SmallCap 600 constituent Cracker Barrel Old Country Store (CBRL) will replace Dresser-Rand Group (DRC) in the S&P MidCap 400, and Marten Transport (MRTN) will replace Cracker Barrel Old Country Store in the S&P SmallCap 600 after the close of trading on Wednesday, July 1. Siemens AG (SIEGY) is acquiring Dresser-Rand Group in a deal expected to be completed soon.
17:18 EDTDRCCracker Barrel to replace Dresser-Rand in S&P 400 as of 7/1 close
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10:04 EDTDRCHigh option volume stocks
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06:39 EDTDRCEuropean Commission approves acquisition of Dresser-Rand by Siemens
The European Commission has approved under the EU Merger Regulation the proposed acquisition of rotating equipment manufacturer Dresser-Rand (DRC) of the U.S. by Siemens (SIEGY) of Germany. The Commission had concerns that regarding ADGT drivers, turbo compressors and turbo compressor trains driven by ADGTs the transaction would reduce the number of significant suppliers from 3 to 2. The initial investigation also indicated that the parties' competitors for the supply of small steam turbines of less than 5 MW have a limited presence and do not pose a significant competitive constraint on the parties. These two concerns could lead to less product variety and ultimately higher prices.After an in-depth investigation launched in February, the Commission has concluded that the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it.
June 24, 2015
07:19 EDTRDC, WFTU.K. panel to decide on first fracking in area since 2011, WSJ reports
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June 22, 2015
16:07 EDTFTIFMC Technologies awarded $297M contract for subsea production systems
FMC Technologies announced that it has received an order from BP Exploration Ltd. to supply subsea production systems for Well Clusters 3-5 of the Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $297M in revenue and is in addition to the initial order for Well Clusters 1-2 received in 2014 from BP, the operator of the Shah Deniz Stage 2 project. The Shah Deniz field is located offshore in the Azerbaijan sector of the Caspian Sea, approximately 100km south of Baku.

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