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Stock Market & Financial Investment News

News For HAL;PACD;FET;HERO;BAS From The Last 14 Days
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February 12, 2016
17:03 EDTPACDPacific Drilling receives NYSE continued listing standards notice
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08:14 EDTHALFBR says buy Baker Hughes, especially on weakness
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06:04 EDTBASBasic Energy reports Jan. well servicing rig count unchanged at 421
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February 11, 2016
19:29 EDTFETForum Energy reports Q4 adjusted EPS (12c), consensus (6c)
Reports Q4 revenue $196M, consensus $197.53M.
08:06 EDTHEROHercules Offshore forms special committee to explore strategic alternatives
Hercules Offshore comprised of all the independent members of the Board of Directors of the Company to consider and explore various strategic alternatives potentially available to the Company in order to maximize the value of the Company. The formation of the Special Committee is not in response to any proposal received by the Company or an approach by a third party.The Special Committee is authorized to explore, review, and evaluate any potential strategic transaction involving the Company and any alternatives thereto, including, but not limited to, the sale of the Company, a merger or share exchange involving the Company, the sale of some or all of the Company's assets, and a recapitalization of the Company. No decision has been made to engage in any particular transaction or transactions. There can be no assurance that the Special Committee or the Board will authorize the pursuit of any strategic alternative. Moreover, there can be no assurance with respect to the terms or the timing of any transaction, or whether any transaction will ultimately occur. As a matter of policy, the Company does not comment on or provide the market with updates as to the status of any informal expressions of interest or formal proposals or offers presented to the Company from time to time, or the course of discussions with any prospective counterparties, nor will it comment upon any rumors with regard to either of the foregoing or make a further announcement regarding the Special Committee's consideration of any proposal or other expressions of interest until such time, if ever, that it enters into a definitive agreement for a completed transaction or is otherwise required to make an announcement.
08:03 EDTHEROHercules Offshore halted, news pending
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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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