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Stock Market & Financial Investment News

News Breaks
June 23, 2014
17:02 EDTHAL, HCLPHi-Crush Partners enters long-term frac sand purchase pact with Halliburton
Hi-Crush Partners (HCLP), or Hi- Crush, announced the entry into a new long-term frac sand purchase agreement between Hi-Crush Operating, a subsidiary of Hi-Crush, and Halliburton (HAL), which amends and restates the existing supply agreements between Hi-Crush and its affiliates and Halliburton. The new agreement increases the annual minimum committed volumes under the previous agreements, extends the term through December 31, 2018 and requires Halliburton to pay a specified price for a specified minimum volume of frac sand each month. In addition, the new agreement provides for further significant increases in annual volumes dependent on Halliburton's aggregate annual demand for Northern White frac sand.
News For HCLP;HAL From The Last 14 Days
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February 12, 2016
08:14 EDTHALFBR says buy Baker Hughes, especially on weakness
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February 10, 2016
07:00 EDTHALNabors Industries offers best value among Land Drillers, says Citi
After assessing a range of net asset values for Land Drillers based on a various recovery scenarios, Citi analyst Scott Gruber says Nabors Industries (NBR) offers the best value within the group. The stock presents upside of 200% in his bull case and 65% downside in his bear case. Gruber calls Halliburton (HAL) his top pick, however, saying frac "offers superior recovery potential" to land rigs. The analyst has Buy ratings on both names along with Patterson-UTI (PTEN). He has a Neutral rating on Helmerich & Payne (HP).
February 9, 2016
12:46 EDTHALHalliburton intends to sell Baker's offshore fluids business, Bloomberg says
Halliburton (HAL) intends to divest Baker Hughes' (BHI) offshore drilling-and-completions fluids division and the lion-s share of Baker's completion systems, Bloomberg reports, citing people familiar with the matter. The move would add to the list of assets Halliburton plans to sell in an effort to allay regulators who have been stalling its takeover of Baker Hughes, the report says. Reference Link
February 8, 2016
08:45 EDTHALBaker Hughes downgraded to Equal Weight at Morgan Stanley
As previously reported, Morgan Stanley downgraded Baker Hughes (BHI) to Equal Weight from Overweight. Analyst Ole Slorer sees increased risks around the Halliburton (HAL)/Baker Hughes deal and said the market seems to be underestimating the obstacles. Slorer said the deal could take another 5-6 months and face increased resistance from EC regulators, and is concerned any delay will accelerate Baker Hughes' deteriorating performance. The analyst thinks Baker Hughes shares could fall into the low $30's, if the deal fails.
February 3, 2016
18:34 EDTHALEuropean Commission extends review of Halliburton-Baker Hughes merger by 20 days
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