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Stock Market & Financial Investment News

News Breaks
July 25, 2014
10:56 EDTFTIFMC Technologies discloses receipt of SEC subpoena in Q2
FMC Technologies disclosed that during the second quarter, the company received an inquiry and a subpoena from the SEC seeking information about certain accruals for paid time off , or PTO, during the first quarter of 2013. The company has cooperated and fully responded to the requests for information. The inquiry is with regard to the reversal of an accrual for PTO that caused the liability for PTO to be understated for the quarter ended March 31, 2013. During the second quarter of 2013, the company identified and corrected the understatement of the PTO liability and assessed and concluded that the correction was not material, or $0.6M, net of tax, to the company’s consolidated financial statements for the quarters ended March 31 and June 30, 2013, respectively. The company discussed the matter with its independent registered public accounting firm and the company’s Audit Committee, FMC stated.
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December 18, 2014
16:07 EDTFTIFMC Technologies awarded $393M subsea systems contract
FMC Technologies announced that it has received an order from Eni Angola to supply subsea production systems for its deepwater Block 15/06 East Hub development. The order has an estimated value of $393M in revenue. Eni is the operator of Block 15/06, while Sonangol EP is the concessionaire. The other partners of the joint venture are Sonangol Pesquisa e Produção, SSI Fifteen Limited and Falcon Oil Holding Angola SA.
06:25 EDTFTIFMC Technologies downgraded to Sector Perform from Outperform at RBC Capital
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December 17, 2014
08:03 EDTFTIFMC Technologies awarded $268M subsea systems contract for Chevron project
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