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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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April 20, 2015
08:43 EDTHALHalliburton downgraded at CLSA
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07:22 EDTAXASIndependent Petroleum Association of America to hold a conference
IPAA-OGIS New York is being held in New York on April 20-22.
07:21 EDTHAL, HALHalliburton downgraded to Underperform from Outperform at CLSA
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07:09 EDTHALHalliburton records $823M after-tax charge in Q1 due to energy downturn
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07:06 EDTHALHalliburton says visibility to depth, length of cycle remains uncertain
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07:02 EDTHALHalliburton says international business more resilient than domestic market
“Total company revenue of $7.1B for the first quarter was down 4% year-over-year, significantly outpacing a 19% global rig count decline, and represented industry-leading performance amidst a challenging commodity price environment. Our global customer base has responded by lowering activity levels and seeking price concessions, which has impacted our margins. As evident by the restructuring charges taken during the quarter, we are taking steps to help mitigate the ongoing impact. North America experienced an unprecedented decline in drilling activity during the first quarter, which drove pricing pressure and margin compression across all product lines. First quarter revenue declined 9% and operating income declined 54%, year-over-year, compared to a 21% reduction in the United States land rig count. Activity has dropped approximately 50% from the peak in late November and we expect to continue to see pricing pressure for our services until the rig count stabilizes. Our international business has been more resilient than the domestic market, with the international rig count down 9% from the peak last July. We continue to anticipate headwinds across all of our international regions this year, as operators reduce their budgets. Lower commodity prices are influencing our customers to re-evaluate asset economics and defer new projects,” said CEO Dave Lesar.
07:01 EDTHALHalliburton reports Q1 adjusted EPS 49c, consensus 37c
Reports Q1 revenue $7.05B, consensus $6.99B.
April 17, 2015
13:28 EDTHALHalliburton technical comments ahead of results
Since hitting lows in December of last year, the stock has been in a recovery uptrend. If the news is bullish, resistance levels to watch as potential upside objectives would be at $48.91 and then at $50.64. If the news is more bearish than traders appear to expect, support levels to watch as potential downside objectives would be at $43.47 which is the 50-day moving average, $41.59, and $40.59.
13:08 EDTHALHalliburton April weekly volatility elevated into Q1 and outlook
Halliburton April weekly call option implied volatility is at 4-, May is at 28, June is at 27, July and October is at 26; compared to 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 20.
08:29 EDTHALU.S. may be at, or near, peak oil output, WSJ says
New data and forecasts suggest lower crude prices are finally prompting U.S. energy companies to cut back their crude output, according to The Wall Street Journal, citing reports from OPEC, the DOE and North Dakota. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Publicly traded drillers and oil services companies include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link
06:33 EDTHALSources: Halliburton hires BofA, Deutsche Bank to sell assets, Reuters reports
According to sources, Reuters reports that Bank of America (BAC) and Deutsche Bank (DB) have been hired by Halliburton (HAL) to sell two assets that could be valued at up to $5B. Bank of America will work to sell some of Halliburton's Sperry Drilling business, including logging-while-drigging, directional drilling and measuring-while-drilling, while Deutsche Bank is mandated to sell Halliburton's drill bits businesses. Halliburton is seeking to divest some assets to ease regulators' antitrust concerns in its $35B merger deal with Baker Hughes (BHI). Reference Link
April 16, 2015
09:34 EDTBASBasic Energy downgraded to Reduce from Neutral at Global Hunter
April 15, 2015
08:58 EDTHALOil services stocks should be bought on dips, says BMO Capital
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06:16 EDTHALOil layoffs reach 100,000 and still going, WSJ reports
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April 14, 2015
09:20 EDTHAL, PACDMorgan Stanley calls a bottom in Oil Services sector
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April 13, 2015
13:26 EDTBASOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
10:00 EDTFET, BASOn The Fly: Analyst Downgrade Summary
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08:31 EDTBASBasic Energy downgraded to Market Perform from Outperform at Raymond James
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06:09 EDTBASBasic Energy reports March well servicing rig count unchanged at 421
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05:57 EDTFETForum Energy downgraded to Underperform from Hold at Jefferies
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