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News Breaks
February 7, 2013
14:55 EDTGE, ESVEnsco says rigs have not had any operational problems related to GE bolts
Ensco (ESV) reported that GE Oil & Gas (GE) recently communicated that certain batches of bolts used in offshore drilling should be inspected for possible replacement. GE Oil & Gas issued notices regarding these bolts after a competitor’s rig experienced operational problems in connection with the bolts. Ensco’s rigs have not experienced any operational problems related to the bolts, used in H4 connectors, which connect a lower marine riser package to a wellhead, the company said. Immediately upon receipt of the notice from GE Oil & Gas, Ensco began an evaluation of its fleet to determine which rigs have H4 connectors with bolts identified in the notice. Ensco’s jackup fleet and seven ENSCO 8500 Series floater rigs are not affected by the GE Oil & Gas notices. For certain other floaters in the company’s fleet, the relevant bolts have already been replaced. On the remaining floaters, the relevant bolts are scheduled for evaluation, and, where appropriate, will be replaced. The company said it will provide an update on this issue in its regularly scheduled monthly fleet status report to be issued in mid-February.
News For ESV;GE From The Last 14 Days
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March 4, 2015
07:23 EDTGEGE CEO Immelt not leaving the company, TheStreet reports
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March 3, 2015
11:03 EDTGEAnalyst says GE's Immelt may leave in industrial CEO exodus, Bloomberg says
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10:52 EDTGEGeneral Electric March weekly volatility elevated, shares near three-month high
General Electric March weekly call option implied volatility is at 19, March is at 15, April and May is at 14, ; compared to its 26-week average of 15 according to Track Data, suggesting large near term price movement.
March 2, 2015
10:00 EDTESVOn The Fly: Analyst Downgrade Summary
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08:27 EDTESVEnsco downgraded to Underperform from Market Perform at BMO Capital
BMO Capital downgraded Ensco to Underperform and said Offshore Drillers appear to be in a secular downturn and bounces should be sold.
February 27, 2015
09:53 EDTESVEnsco pullback overdone, says Evercore ISI
Evercore ISI said the pullback in Ensco following the Q4 report is overdone. The firm said the risk of dividend cut was well telegraphed and yesterday's weakness was magnified by price weakness in oil. The firm maintains its Buy rating and said Ensco is prudent in managing cash flow for a multi-year down-cycle and will be well positioned to take advantage of opportunities to upgrade the fleet.
February 26, 2015
15:30 EDTESVNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Monster Beverage (MNST), consensus 59c... Ross Stores (ROST), consensus $1.11... Gap (GPS), consensus 74c... Autodesk (ADSK), consensus 24c... Universal Health Services (UHS), consensus $1.50... Southwestern Energy (SWN), consensus 50c... Ensco (ESV), consensus $1.36... J.C. Penney (JCP), consensus 11c... Nimble Storage (NMBL), consensus (14c)... Herbalife (HLF), consensus $1.22... Allscripts Healthcare (MDRX), consensus 9c... SBA Communications (SBAC), consensus 2c... Aruba Networks (ARUN), consensus 27c... Splunk (SPLK), consensus 4c... Air Lease (AL), consensus 61c... Ingram Micro (IM), consensus 99c... Weight Watchers (WTW), consensus 7c... Northern Oil and Gas (NOG), consensus 19c... Envision Healthcare (EVHC), consensus 36c... Infoblox (BLOX), consensus 5c... Live Nation (LYV), consensus (41c)... OmniVision (OVTI), consensus 29c... Bonanza Creek Energy (BCEI), consensus 27c.
11:42 EDTESVEnsco says not giving FY15 revenue outlook due to lack of visibility
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11:37 EDTESVEnsco sees Q1 revenue to decline 'slightly' from Q4
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05:40 EDTESVEnsco reports Q4 EPS ($14.89), may not compare to consensus $1.36
Reports Q4 revenue $1.16B, consensus $1.16B. The loss from continuing operations in Q4 was $13.22 per share, compared to earnings of $1.70 per share a year ago. The loss from discontinued operations in Q4 was $1.67 per share compared to a loss of 16c per share the prior year. The loss of $14.89 per diluted share in Q4 compared to earnings of $1.54 per diluted share in 4Q13.
February 25, 2015
05:22 EDTGEGE Healthcare selected as strategic partner by Kenyan Ministry of Health
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February 24, 2015
18:02 EDTGEGeneral Electric director purchases $20M of company stock
According to regulatory filings, GE director William G. Beattie purchased 800,000 shares of GE for $20,096,000 on February 18 and 19.
February 23, 2015
12:07 EDTGEEU opens probe in GE's proposed acquisition of Alstom's energy business
The European Commission has opened an in-depth investigation to assess whether General Electric's (GE) proposed acquisition of the Thermal Power, Renewable Power & Grid businesses of Alstom (ALSMY) is in line with the EU Merger Regulation. The Commission’s preliminary investigation indicates potential competition concerns in the market for heavy-duty gas turbines which are mainly used in gas-fired power plants. The transaction would bring together the activities of GE, the world's largest manufacturer of heavy-duty gas turbines, with those of Alstom, eliminating one of the three main global competitors to GE in this market. The opening of an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has 90 working days, until 8 July, to take a final decision. Reference Link
February 20, 2015
08:26 EDTGEArc Logistics to acquire all membership interests Joliet Bulk for $216M
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February 18, 2015
11:14 EDTGEGE, Alstom deal likely to face intense EU scrutiny, Reuters says
General Electric's (GE) deal for Alstom's (ALSMY) power equipment business is likely to face an intense EU antitrust investigation, says Reuters, citing people familiar with the matter. Reference Link
10:05 EDTESVOn The Fly: Analyst Initiation Summary
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07:07 EDTGEBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
06:50 EDTESVEnsco initiated with a Market Perform at BMO Capital
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