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Stock Market & Financial Investment News

News Breaks
April 21, 2014
11:53 EDTSLB, WFT, BHI, HALHalliburton 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
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August 26, 2015
12:47 EDTBHI, SLB, HALOn The Fly: Top stock stories at midday
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10:57 EDTBHI, HALEuropean oilfield service names boosted by M&A speculation, says JPMorgan
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10:46 EDTSLBSchlumberger off session lows, levels to watch
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10:08 EDTSLBSchlumberger upgraded to Buy from Hold at Standpoint Research
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10:00 EDTBHIOn The Fly: Analyst Upgrade Summary
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09:25 EDTSLBOn 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 EDTSLBSchlumberger says no plans to divest anything from Cameron
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08:47 EDTSLBSchlumberger says the acquisition could increase sales base by 20%
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07:58 EDTHAL, SLBC&J Energy downgraded to Neutral from Overweight at JPMorgan
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07:00 EDTSLBSchlumberger volatility elevated into acquiring Cameron in a $14.8B deal
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06:21 EDTSLBSchlumberger to host conference call
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06:11 EDTSLBCameron volatility elevated into Schlumberger agrees to acquire in $14.8B deal
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06:04 EDTSLBSchlumberger 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 EDTSLBSchlumberger agrees to acquire Cameron in deal valued at $14.8B
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August 21, 2015
13:05 EDTBHIBaker Hughes reports U.S. rig count up 1 to 885
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August 19, 2015
13:30 EDTWFTOptions with increasing put volume;
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07:33 EDTSLBCameron and Schlumberger's Subsea to supply pump system for Stones development
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August 17, 2015
08:04 EDTSLBAccenture to acquire Schlumberger Business Consulting
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05:52 EDTWFTStocks with implied volatility movement; XLU WFT
Stocks with implied volatility movement; Utilities SPDR (XLU) 16, Weatherford (WFT) 61 according to iVolatility.
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