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Stock Market & Financial Investment News

News Breaks
April 21, 2014
11:53 EDTHAL, WFT, SLB, BHIHalliburton hits 52-week high after results top expectations
Shares of oilfield services company Halliburton (HAL) hit a new 52-week high after the company's first quarter results topped analysts' consensus estimates. WHAT'S NEW: This morning, Halliburton reported Q1 continuing operating earnings per share of 73c and revenue of $7.3B, topping expectations of 71c and $7.24B, respectively. The company forecast its Q2 EPS to be up approximately 25%, compared to consensus of 91c, and said "further increases" will follow. For Q2, the company expects low double-digit percentage revenue improvement and margins to move solidly into the mid-teens. On its conference call, management said that 2014 will be a transitional year for Latin America. The company said that constitutional changes in Mexico seem to be progressing as planned and it believes foreign investment in the market will be beneficial to the company beginning in 2015. Halliburton also said it is starting to "feel a momentum swing" in North America. OTHERS TO WATCH: Other companies in the oil services space space include Schlumberger (SLB), Baker Hughes (BHI), and Weatherford (WFT). PRICE ACTION: In late morning trading, Halliburton rose $1.93, or about 3.2%, to $62.83 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $63.88. Weatherford (WFT), which is scheduled to report on its quarter this Friday, April 25, is up 0.7% to $18.34. Meanwhile, Schlumberger (SLB), which reported Thursday morning, is up 1.7% today to $101.56 and Baker Hughes (BHI), which also reported Thursday before the open, is up 1.8% to $69.57.
News For HAL;WFT;SLB;BHI From The Last 14 Days
Check below for free stories on HAL;WFT;SLB;BHI the last two weeks.
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September 16, 2014
07:42 EDTSLB, BHIDeutsche Bank to hold a conference
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September 15, 2014
07:23 EDTSLB, BHIHart Energy to hold a conference
2014 DUG Eagle Ford Conference to be held in San Antonio, California on September 15-17.
September 12, 2014
15:48 EDTHAL, SLB, BHISchlumberger favored to win Petrobras service contract, Bloomberg reports
Schlumberger (SLB) is favored to win half of the well services work being offered by Petrobras (PZE) which is valued at more than $2B, Bloomberg says, citing two people with knowledge of the tender. Schlumberger had submitted the most competitive bid for 50% of the well services work, Halliburton (HAL) had placed the lowest-cost bid for 30% of the work, and Baker Hughes (BHI) is set to win the remaining 20% of the work, the people added. Reference Link
13:03 EDTBHIBaker Hughes reports U.S. rig count up 6 to 1931 rigs
Baker Hughes reports that the U.S. Rig Count is up 6 rigs from last week to 1931, with oil rigs up 8 to 1592, gas rigs down 2 to 338, and miscellaneous rigs unchanged at 1. The U.S. Rig Count is up 163 rigs from last year at 1768, with oil rigs up 231, gas rigs down 63, and miscellaneous rigs down 5.The U.S. Offshore rig count is 66, up 1 rig from last week, and up 1 rig year over year.
11:07 EDTWFTWeatherford initiated with a Buy at Gabelli
September 9, 2014
07:18 EDTHALStephens to hold an investor trip
Energy: Oilfield Services Investor Plane Trip travels throughout Texas and Oklahoma on September 9-10.
September 8, 2014
17:25 EDTBHIBaker Hughes names Kimberly Ross CFO
Baker Hughes (BHI) announced that Kimberly A. Ross, has been appointed senior vice president and CFO effective October 22. Ross currently serves as executive vice president and CFO of Avon Products (AVP).
08:15 EDTBHIBaker Hughes reports August international rig count down 43 to 1,339
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September 5, 2014
16:45 EDTHALMarket ends week little changed after mixed economic data
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13:03 EDTBHIBaker Hughes reports U.S. rig count up 11 to 1925 rigs
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September 4, 2014
16:24 EDTHALOn The Fly: Closing Wrap
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12:34 EDTHALOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory after the ECB lowered its benchmark interest rate and took additional measures in an attempt to stimulate the region’s economy. The averages had some early momentum, but found a level about an hour into trading around which they have since traded in a narrow range. ECONOMIC EVENTS: In the U.S., payroll provider ADP estimated private sector employment increased by 204K jobs in August, which was below the consensus forecast for 215K private sector jobs to have been added. Initial jobless claims rose 4K to 302K in the week ended August 30, which was close to the 300K estimate. The trade deficit narrowed slightly to $40.5B in July, beating expectations for a deficit of $42.5B. Second quarter nonfarm productivity growth was revised lower to 2.3% versus the 2.5% pace reported initially. Unit labor costs were revised down to a decrease of 0.1% from a rise of 0.6% estimated previously. Markit's services PMI for August came in at 59.5, versus a consensus forecast of 58.5. ISM's non-manufacturing PMI for August had a reading of 59.6, easily topping the 57.7 consensus estimate. In Europe, the European Central Bank unexpectedly cut the rate at which it issues short-term loans to banks to 0.05% from 0.15% and lowered its growth forecasts for 2014 and 2015. The ECB also announced plans to buy asset-backed securities, which the central bank's president Mario Draghi said will have a “sizable” impact on its balance sheet without providing further details on the size of the planned purchases. COMPANY NEWS: Shares of oil major BP (BP) trading in New York fell about 6% after a federal judge ruled that the company acted with "gross negligence" in causing the Gulf of Mexico spill in 2010 that was the biggest offshore oil spill in U.S. history. U.S. District Judge Carl Barbier, who held a trial without a jury over who was at fault, also found Transocean (RIG) and Halliburton (HAL) "negligent," but rested much more of the blame on BP, with 67% of the liability assigned to BP, 30% to Transocean and 3% to Halliburton. Afterward, BP said it "strongly disagrees" with the decision and will immediately appeal. MAJOR MOVERS: Among the notable gainers following their earnings reports were Mattress Firm (MFRM), which rose 12%, and Methode Electronics (MEI), which gained 16%. Also higher was Bolt Technology (BOLT), which surged 36% after the company agreed to be acquired by Teledyne Technologies (TDY) for $22.00 per share in cash. Shares of Teledyne advanced nearly 2% following last night's deal announcement. Among the noteworthy losers was Matrix Service (MTRX), which dropped 21% after its earnings for the just completed quarter and its profit forecast for its new fiscal year fell short of analysts' expectations. Also lower following their earnings reports were Ciena (CIEN), which fell over 7%, and Shoe Carnival (SCVL), which dropped more than 10%. INDEXES: Near midday, the Dow was up 43.83, or 0.26%, to 17,122.11, the Nasdaq was up 15.15, or 0.33%, to 4,587.71, and the S&P 500 was up 5.23, or 0.26%, to 2,005.95.
12:11 EDTHALCourt rules Halliburton 'negligent' in Macondo incident conduct
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11:09 EDTHALBP falls after found 'grossly negligent' in spill ruling
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10:44 EDTHALBP found grossly negligent in Macondo spill, fines may rise, Bloomberg reports
U.S. District Judge Carl Barbier has found BP (BP) "grossly negligent" in its handling of the 2010 Gulf of Mexico oil spill, which killed 11 people and spewed oil for nearly three months, Bloomberg reports. Transocean (RIG) and Halliburton (HAL) were also involved in the case, but the federal judge did not find them as responsible as BP for the spill. BP could face fines of up to $18B for the spill. Reference Link
10:26 EDTHALHalliburton, Transocean cleared of gross negligence in spill, Bloomberg reports
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08:07 EDTBHIBaker Hughes and Aker Solutions' alliance receives regulatory approvals
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