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Stock Market & Financial Investment News

News Breaks
November 28, 2012
10:45 EDTRIG, RIG, DO, DO, CAM, CAM, SLB, SLB, PACD, PACD, WFT, WFT, OII, OII, NE, NE, HAL, HAL, FET, FET, BAS, BAS, BHI, BHI, PES, PES, PTEN, PTEN, NBR, NBR, HERO, HERO, SDRL, SDRL, RDC, RDC, ESV, ESVDeutsche Bank hosts an analyst Oil Services/Industry conference call
Analyst will discuss the re-launch of the Oil Services Sector in a conference call on November 28 at 11 am.
News For ESV;RDC;SDRL;HERO;NBR;PTEN;PES;BHI;BAS;FET;HAL;NE;OII;WFT;PACD;SLB;CAM;DO;RIG From The Last 14 Days
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August 26, 2015
09:25 EDTRIG, CAM, SLBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), down 15.1%... Express (EXPR), up 9.8%... Frontline (FRO), up 10.4%... Chico's FAS (CHS), up 9.3%. ALSO HIGHER: Oshkosh (OSK), up 11.9% after being awarded a $6.7B contract by the U.S. Army... EMC Corporation (EMC), up 5.8% after Re/code reported that the board is considering a VMware (VMW) downstream merger proposal... Google (GOOG), up 4.6% after being upgraded to Conviction Buy from Neutral at Goldman... Ford (F), up 2.4% after Bloomberg reported that the company is considering returning production of Bronco and Ranger to the U.S. NOTABLE: Cameron International (CAM), up 45.4% after announcing that it will be acquired by Schlumberger (SLB). Schlumberger is down 1.9%. LOWER: WisdomTree (WETF), down 3.6% after being downgraded to Sell from Buy at Citi... Transocean (RIG), down 3.4% after proposing to cancel Q3 and Q4 dividends.
09:20 EDTBHIBaker Hughes upgraded to Conviction List from Outperform at Iberia
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09:12 EDTCAM, SLBSchlumberger says no plans to divest anything from Cameron
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08:47 EDTCAM, SLBSchlumberger says the acquisition could increase sales base by 20%
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07:58 EDTSLB, HALC&J Energy downgraded to Neutral from Overweight at JPMorgan
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07:06 EDTNBRNabors Industries board authorizes repurchase up to $400M of common shares
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07:00 EDTCAM, SLBSchlumberger volatility elevated into acquiring Cameron in a $14.8B deal
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06:21 EDTCAM, SLBSchlumberger to host conference call
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06:11 EDTCAM, SLBCameron volatility elevated into Schlumberger agrees to acquire in $14.8B deal
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06:04 EDTCAM, SLBSchlumberger agrees to acquire Cameron in deal valued at $14.8B
Schlumberger Limited (SLB) and Cameron (CAM) jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of both companies. Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Based on the closing stock prices of both companies on August 25, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron's 20-day volume weighted average price of $48.45 per share, and a 56.3% premium to Cameron's most recent closing stock price of $42.47 per share. Upon closing, Cameron shareholders will own approximately 10% of Schlumberger's outstanding shares of common stock. The total transaction has a value of $14.8B as of August 25. Schlumberger expects to realize pretax synergies of approximately $300M-$600M in the first and second year, respectively. Initially, the synergies are primarily related to reducing operating costs, streamlining supply chains, and improving manufacturing processes, with a growing component of revenue synergies in the second year and beyond. Schlumberger also expects the combination to be accretive to EPS by the end of the first year after closing. The transaction combines two complementary technology portfolios into a "pore-to-pipeline" products and services offering to the global oil and gas industry. On a pro forma basis, the combined company had 2014 revenues of $59B. The transaction is subject to Cameron shareholders' approval, regulatory approvals and other customary closing conditions. It is anticipated that the closing of the transaction will occur in Q1 of 2016.
06:01 EDTCAM, SLBSchlumberger agrees to acquire Cameron in deal valued at $14.8B
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August 25, 2015
18:47 EDTRIGOn The Fly: After Hours Movers
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18:11 EDTDO, RDC, PACD, NE, RIG, SDRL, ESVTranocean tanks after proposing dividend cancellations, peers follow
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17:00 EDTRIGTransocean may cancel Q3, Q4 dividend
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August 21, 2015
13:05 EDTBHIBaker Hughes reports U.S. rig count up 1 to 885
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10:02 EDTPACDOn The Fly: Analyst Downgrade Summary
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09:32 EDTNENoble Corp. upgraded to Buy from Accumulate at Global Hunter
Global Hunter upgraded Noble Corp to Buy and lowered its price target to $14 from $16. The firm believes Noble is well positioned to manage through a downturn with strong liquidity and a reasonable valuation.
09:31 EDTPACDPacific Drilling downgraded to Neutral from Buy at Global Hunter
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August 20, 2015
17:06 EDTOIIOceaneering appoints Alan Curtis CFO
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17:03 EDTOIIOceaneering appoints Clyde Hewlett COO
Oceaneering International announced the promotion of Clyde Hewlett to COO. In this capacity he will have expanded responsibility for managing all of Oceaneering's oilfield business. Hewlett joined Oceaneering in 1988 and most recently served as senior VP, Subsea Services.
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