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Stock Market & Financial Investment News

News For LUFK;LUFK;BAS;BAS;UNT;UNT;HERO;HERO;CLR;CLR;HAL;HAL;TDW;TDW;FET;FET;AXAS;AXAS;PACD;PACD;BRS;BRS From The Last 14 Days
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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
12:18 EDTBRSOn The Fly: Top stock stories at midday
Stocks have moved in a fairly wide range, with the Dow beginning the session with triple digit losses, moving briefly into positive territory, and now hovering near the flat line. Oil prices continue to dictate the equity market's direction, as each move of oil prices toward the plus side is followed by a subsequently positive move for stocks. With oil back below $30 per barrel, the major averages have found it hard to maintain any upward momentum. ECONOMIC EVENTS: In the U.S., wholesale sales dipped 0.3% in December, while inventories fell 0.1%. The Labor Department's Job Openings and Labor Turnover Survey showed job openings rose 261,000 in December to about 5.61M. In Asia, most major markets remain closed for Chinese New Year, but one of the exceptions, Japan, saw its main indexes plunge, as the Nikkei dropped 5.4% and the Topix fell 5.5%. COMPANY NEWS: Class A shares of 21st Century Fox (FOXA) declined 3% after the company reported lower than expected second quarter revenue, while peer Viacom (VIAB) tumbled 15% following its own revenue miss. The results of the two media conglomerates weighed on the largest name in the space, Disney (DIS), which fell 1% near noon ahead of its own earnings report, which is due after the closing bell today. MAJOR MOVERS: Among the notable gainers was Salesforce (CRM), which rose 5% after it was upgraded to Hold from Underperform at Jefferies. Also higher was Boston Scientific (BSX), which gained 4% after it announced that Medicare will cover its Watchman LAAC device. In addition, Belden (BDC) and Goodyear Tire (GT) were up 20% and 5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was ITC Holdings (ITC), which fell 2% after it agreed to be acquired by Fortis in a cash and stock deal valued at $11.3B. Also lower were Plains All American (PAA), Bristow Group (BRS) and HCP (HCP), which were down 14%, 24%, and 15%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 75.85, or 0.47%, to 15,951.20, the Nasdaq was down 16.69, or 0.39%, to 4,267.06, and the S&P 500 was down 8.08, or 0.44%, to 1,845.36.
05:14 EDTBRSBristow Group invests $4.2M in Sky-Futures
Bristow Group and Sky-Futures announced that Bristow has invested $4.2M in Sky-Futures, a provider of drone inspection data services for the oil and gas industry. This investment gives Bristow immediate entry to the fast-growing UAV services business and bolsters Bristow's offerings to include drone inspection services. The investment, which also includes an exclusive partnership agreement, gives Bristow access to Sky-Futures UAV or drone inspection operational expertise, data capturing and analysis technology, and training capabilities. Bristow will have one representative on Sky-Futures' board.
February 8, 2016
19:07 EDTBRSOn The Fly: After Hours Movers
HIGHER: Silver Spring (SSNI), up 22.2% after giving fourth quarter and fiscal 2016 guidance... Gap (GPS), up 2.8% after reporting January Same-Store Sales and giving guidance for Q4 as well as FY15. DOWN AFTER EARNINGS: Qualys (QLYS), down 6.7%... Twenty-First Century Fox (FOXA, FOX), down 4.4% and 2.3%, respectively... Compass Minerals (CMP), down 3.5%... Bristow Group (BRS), down 2.5%.
17:10 EDTBRSBristow Group backs FY16 adjusted EPS view $1.80-$2.40, consensus $1.86
17:09 EDTBRSBristow Group reports Q3 adjusted EPS 67c, consensus 63c
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16:57 EDTBRSBristow Group cuts quarterly dividend to 7c per share from 34c per share
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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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11:36 EDTTDWTidewater says unable to provide guidance due to market volatility
Says has not purchased any shares in 2016 from 2015 authorization. Says delivering shareholder value through efficient operations and attempts to grow market share. Says not giving guidance due to limited ability provided to do so, as well as market volatility and oil price volatility. Says will get "our share" of revenue "out there." Comments taken from Q3 earnings conference call. In morning trading, Tidewater shares gained 4.29% to $4.62.
February 2, 2016
17:52 EDTTDWTidewater reports Q3 EPS with items (42c), consensus (29c)
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15:16 EDTCLRS&P takes rating actions on U.S. investment-grade E&P companies
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February 1, 2016
17:24 EDTAXASBiglari reports 5.3% passive stake in Abraxas Petroleum
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10:02 EDTAXASOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:24 EDTAXASAbraxas Petroleum downgraded to Neutral from Buy at SunTrust
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January 28, 2016
17:53 EDTTDWTidewater suspends dividend and repurchase program
Tidewater announced that its Board of Directors has approved management's recommendation to suspend Tidewater's quarterly dividend and common stock repurchase program. The dividend and share repurchase program suspension is part of a broader plan of reducing costs and capital expenditures in order to preserve liquidity in an oilfield services market that has been negatively impacted by the precipitous drop in oil prices and corresponding reduction in global E&P spending. By suspending what has been a $0.25 per share quarterly dividend, the company will preserve approximately $47 million of cash annually. No shares have been repurchased by the company under its share repurchase program this fiscal year and the remaining $100 million authorized under the current program was set to expire on June 30, 2016.
10:04 EDTHALOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amdocs (DOX) upgraded to Buy from Neutral at BofA/Merrill... Cheesecake Factory (CAKE) upgraded to Overweight from Equal Weight at Stephens... Chemical Financial (CHFC) upgraded to Buy from Hold at Sandler O'Neill... Cimarex Energy (XEC) upgraded to Buy from Hold at Wunderlich... Cirrus Logic (CRUS) upgraded to Outperform from Perform at Oppenheimer... Citrix (CTXS) upgraded on Q4 results, valuation at JMP Securities... Comerica (CMA) upgraded to Market Perform from Underperform at BMO Capital... Community Health (CYH) upgraded to Market Perform from Underperform at Raymond James... Denny's (DENN) upgraded to Overweight from Equal Weight at Stephens... Dolby (DLB) upgraded to Buy from Neutral at Dougherty... EMC (EMC) upgraded to Buy from Neutral at Mizuho... Halliburton (HAL) upgraded to Buy from Accumulate at KLR Group... Hanmi Financial (HAFC) upgraded to Strong Buy from Outperform at Raymond James... Hawaiian Holdings (HA) upgraded to Neutral at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Needham... Kinder Morgan (KMI) upgraded at Stifel... MGM China (MCHVF) upgraded to Overweight from Neutral at JPMorgan... Nimble Storage (NMBL) upgraded to Buy from Hold at Maxim... Patterson Companies (PDCO) upgraded to Buy from Neutral at UBS... PayPal (PYPL) upgraded to Outperform on core market share gains at Wedbush... Prosperity Bancshares (PB) upgraded to Buy from Neutral at DA Davidson... RPC, Inc. (RES) upgraded to Overweight from Equal Weight at Morgan Stanley... Rowan Companies (RDC) upgraded to Equal Weight from Underweight at Morgan Stanley... SanDisk (SNDK) upgraded to Buy from Neutral at Mizuho... Stillwater Mining (SWC) upgraded to Outperform from Market Perform at FBR Capital... Vantiv (VNTV) upgraded to Positive from Neutral at Susquehanna... Wilshire Bancorp (WIBC) upgraded to Outperform from Market Perform at Raymond James.
08:51 EDTCLRContinental Resources upside not reflected in stock, says Canaccord
Canaccord noted Continental Resources is an industry leader in enhanced completions testing and is also a pioneer in the development of the SCOOP and STACK plays in Oklahoma. The firm said the company is achieving impressive results and has considerable upside, which is not reflected in the stock price. Canaccord reiterated its Buy rating and $42 price target on Continental Resources shares.
08:06 EDTHALBaker Hughes says 'fully dedicated' to closing merger as early as possible
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06:07 EDTHALHalliburton upgraded to Buy from Accumulate at KLR Group
KLR Group analyst Darren Gacicia upgraded Halliburton (HAL) to Buy saying the risk/reward is favorable at current share levels. North America should be the first region to increase oil production activity in a recovery, and Halliburton has high exposure, Gacicia tells investors in a research note. Further, investor concerns related to the Baker Hughes (BHI) merger may present a positive catalyst for the shares whether the merger is completed or terminated, the analyst contends. He believes both companies remain motivated to complete the deal. Gacicia keeps a $44 price target for Halliburton shares. The oil services company closed yesterday up 12c to $29.06.
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