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Stock Market & Financial Investment News

News For LUFK;PACD;AXAS;FET;TDW;HAL;CLR;HERO;UNT;BAS;BRS From The Last 14 Days
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July 27, 2015
06:20 EDTHALU.S. oil firms preparing for extended job cuts, WSJ reports
U.S. energy companies intend to cut more jobs, sell more assets, and engage in more financial maneuvers to deal with the recent drop in U.S. crude-oil prices to below $50 a barrel, the Wall Street Journal reports. Companies have started to warn that more layoffs will come, particularly Halliburton (HAL) and Baker Hughes (BHI), who disclosed last week that they had cut 27,000 jobs between them, the report says. Job cuts for the industry are beginning to extend to engineers and scientists, the report adds. Publicly traded companies in oil industry include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Other publicly traded companies in the space 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
July 23, 2015
18:59 EDTFETForum Energy sees Q3 EPS 8c-13c, consensus 17c
Forum CEO Cris Gaut stated, "We expect the lower level of new orders from the reduction in drilling and completion activity during Q2 to have an impact on our Q3 results."
18:58 EDTFETForum Energy reports Q2 adjusted EPS 16c, consensus 17c
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11:22 EDTAXASAbraxas Petroleum 'unaware' of reason for recent stock price underperformance
Abraxas Petroleum Corporation commented on recent market conditions. Aside from weakness in the general commodity markets, Abraxas is unaware of any fundamental reason for the company’s recent stock price underperformance. Abraxas notes that the company exited June 30, 2015 $108 million borrowed on the company’s $165 million borrowing base. With an additional nine well completions during the quarter, and only bank deb in the Company’s capital structure, the company is very comfortable with its asset coverage. Additionally, with a $55 million capital program that approximates forecasted cash flow, the company remains comfortable this strong financial positioning should continue through 2015. Moreover, the company reiterates that in outer years, it currently forecasts it can hold production at over 7,000 boepd running a one rig Bakken program, which approximates a $50-$60 million capital program. Abraxas also reiterates the company’s 2015 production guidance of 6,500-7,000 boepd. Abraxas plans to close out the company’s second quarter production and financial results the week of July 27, 2015. In the coming week Abraxas will also have 30 day rates for the company’s four Bakken and two Eagle Ford completions. When these results are available, Abraxas will furnish them to the Street.
10:29 EDTHALHalliburton rises after analysts downplay antitrust concerns
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08:32 EDTHALMorgan Stanley says Halliburton antitrust story mostly noise
Morgan Stanley analyst Ole Slorer views yesterday's Bloomberg article suggesting Halliburton's (HAL) acquisition of Baker Hughes (BHI) faces antitrust hurdles in the U.S. as mostly noise. Slorer spoke with an antitrust expert and concluded the article summarized well known facts and came away with a more constructive view of the deal. The analyst said Halliburton's "exceptionally diligent" handling of the transaction has minimized risks. Slorer's team raised Halliburton's price target to $62 from $60 and Baker Hughes' to $88 from $86 and maintains Overweight ratings on both stocks.
07:50 EDTHEROHercules Offshore reports Q2 Domestic Offshore revenue down 71% to $40.6M
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07:19 EDTHEROHercules Offshore reports Q2 EPS (55c), consensus (50c)
Reports Q2 revenue $79.25M, consensus $95.51M.
07:08 EDTHALDeutsche sees little new in Bloomberg story on Halliburton
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06:58 EDTPACDPacific Drilling raises FY15 average revenue efficiency to 94%-96% from 92%-96%
Cuts FY15 contract drilling expenses to $425M-$450M from $500M-$525M. Cuts FY15 G&A expenses to $55M-$58M from $63M-$66M. Cuts FY15 income tax expense as percent of drilling contract drilling revenue to 3%-3.5% from 3.5%-4%. Sees FY15 EBITDA $575M-$615M. Comments taken from slides for July Company Update.
July 22, 2015
13:46 EDTHALBaker Hughes options active on Halliburton antitrust merger concerns
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13:14 EDTHALBaker Hughes weakness a buying opportunity, says Evercore ISI
Evercore ISI said Baker Hughes (BHI) weakness is a buying opportunity and noted Halliburton (HAL) said it would sell any and all assets to get the deal done, ex-strategic items.
13:03 EDTHALHalliburton sinks on antitrust concerns after Citi's 90% call
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12:42 EDTHALHalliburton-Baker Hughes deal to face antitrust hurdle in U.S., Bloomberg says
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12:19 EDTHALBaker Hughes drops 5% after Bloomberg says DOJ scrutinizing Halliburton deal
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12:17 EDTHALHalliburton-Baker Hughes deal to face antitrust hurdle in U.S., Bloomberg says
July 21, 2015
10:01 EDTHALOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASML (ASML) upgraded to Accumulate from Neutral at SNS Securities... Anacor (ANAC) upgraded to Buy from Neutral at Goldman... Artisan Partners (APAM) upgraded to Outperform from Neutral at Credit Suisse... Canadian National (CNI) upgraded to Buy from Hold at Canaccord... General Mills (GIS) upgraded to Outperform from Sector Perform at RBC Capital... Halliburton (HAL) upgraded to Accumulate from Neutral at Global Hunter... Harte-Hanks (HHS) upgraded to Outperform from Market Perform at BMO Capital... MDC Partners (MDCA) upgraded to Overweight from Neutral at Piper Jaffray... SABMiller (SBMRY) upgraded to Buy from Neutral at Nomura... Sanmina (SANM) upgraded to Neutral from Underperform at Longbow... Santander Mexico (BSMX) upgraded to Neutral from Sell at Goldman... Sherwin-Williams (SHW) upgraded to Buy from Neutral at Northcoast... Southwestern Energy (SWN) upgraded to Buy from Neutral at Global Hunter... Verisk Analytics (VRSK) assumed with an Outperform at Keefe Bruyette.
09:31 EDTHALHalliburton upgraded to Accumulate from Neutral at Global Hunter
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08:58 EDTHALHalliburton shares can rise impressively, says BMO Capital
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08:38 EDTHALHalliburton reported impressive Q2 results, says Oppenheimer
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07:47 EDTHALHalliburton price target lowered to $55 from $61 at Susquehanna
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07:20 EDTHALHalliburton has 90% upside potential over 3 years, says Citi
Citi analyst Scott Gruber believes regulatory approval for Halliburton's (HAL) proposed acquisition of Baker Hughes (BHI) is a "high probability event." Halliburton's buyback potential post-acquisition looks significant, Gruber tells investors in a research note. He estimates $5.00 of pro forma earnings per share for Halliburton in 2018, suggesting 90% upside potential for shares over the next three years. The analyst notes that applying a 16 times earnings multiple yields a $78 share price. He keeps a Buy rating on Halliburton with a $54 price target. The oil services company closed yesterday up 75c to $40.74 after reporting Q2 results.
July 20, 2015
10:00 EDTUNTOn The Fly: Analyst Upgrade Summary
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09:34 EDTHALHalliburton CEO says 'this is a damn tough market'
09:34 EDTHALHalliburton sees significant runway for refrack in the future
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09:25 EDTHALHalliburton sees lower revenue and margins in Q3
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09:12 EDTHALHalliburton says Q2 was challenging due to lower activity, pricing pressure
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08:02 EDTUNTUnit Corp. upgraded to Buy from Accumulate at KLR Group
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07:05 EDTHALHalliburton says Q2 Eastern Hemisphere revenues declined 'modestly' vs. Q1
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07:04 EDTHALHalliburton incurred $67M after-tax for costs related to Baker Hughes deal in Q2
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07:03 EDTHALHalliburton says 'pleased' with progress of Baker Hughes acquisiton
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07:02 EDTHALHalliburton expects global markets will remain 'transitional'
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07:01 EDTHALHalliburton reports Q2 continuing ops EPS 44c ex-items, consensus 29c
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06:36 EDTHALHalliburton July weekly volatility increases into Q2 and outlook
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July 17, 2015
17:52 EDTTDWS&P announces changes to S&P MidCap 400, S&P SmallCap 600 indices
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17:24 EDTTDWTidewater to replace NetScout in S&P 600 as of 7/24 close
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17:19 EDTTDWNetScout to replace Tidewater in S&P 400 as of 7/24 close
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14:58 EDTHALHalliburton July weekly 40 straddle priced for 4.6% movement into Q2
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13:53 EDTHALHalliburton technical comments ahead of results
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10:00 EDTHALSchlumberger CEO says Halliburton deal creating 'uncertainty' for customers
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July 16, 2015
11:40 EDTHALStocks with call strike movement; TAP HAL
Molson Coors (TAP) October 80 call option implied volatility decreased 5% to 32, Halliburton (HAL) October 46 call option implied volatility decreased 3% to 29 according to IVolatility.
08:53 EDTHALHalliburton July weekly volatility increases into Q2 and outlook
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July 14, 2015
10:01 EDTAXASOn The Fly: Analyst Initiation Summary
8point3 Energy (CAFD) initiated with a Buy at Deutsche Bank... Abraxas Petroleum (AXAS) initiated with a Market Perform at Cowen... Amarantus Bioscience (AMBS) initiated with a Buy at WallachBeth... Ashford Hospitality Prime (AHP) initiated with a Hold at Canaccord... Ashford (AINC) initiated with a Hold at Canaccord... BE Aerospace (BEAV) initiated with a Neutral at JPMorgan... Bed Bath & Beyond (BBBY) initiated with a Neutral at Longbow... Benchmark Electronics (BHE) initiated with a Buy at B. Riley... Bill Barrett (BBG) initiated with a Market Perform at Cowen... Boeing (BA) initiated with an Overweight at JPMorgan... Bombardier (BDRBF) initiated with a Neutral at JPMorgan... Cablevision (CVC) initiated with a Hold at Deutsche Bank... Charter (CHTR) initiated with a Buy at Deutsche Bank... Chesapeake (CHK) initiated with an Equal Weight at Stephens... Comcast (CMCSA) initiated with a Hold at Deutsche Bank... DiamondRock (DRH) initiated with a Buy at Canaccord... Diamondback Energy (FANG) initiated with an Outperform at Cowen... EOG Resources (EOG) initiated with an Overweight at Stephens... Fogo De Chao (FOGO) initiated with a Buy at Jefferies... General Dynamics (GD) initiated with an Overweight at JPMorgan... HP (HPQ) initiated with a Hold at Maxim... Hanover Insurance (THG) initiated with an Overweight at Piper Jaffray... Harris (HRS) initiated with a Neutral at JPMorgan... Hospitality Properties (HPT) initiated with a Hold at Canaccord... Host Hotels (HST) initiated with a Hold at Canaccord... Hydrogenics (HYGS) initiated with a Buy at Rodman & Renshaw... King Digital (KING) initiated with an Overweight at Morgan Stanley... L-3 Communications (LLL) initiated with a Neutral at JPMorgan... La-Z-Boy (LZB) initiated with a Neutral at Longbow... LaSalle Hotel (LHO) initiated with a Hold at Canaccord... MINDBODY (MB) initiated with a Buy at UBS... Marriott (MAR) initiated with a Hold at Canaccord... Newfield Exploration (NFX) initiated with a Buy at Global Hunter... Northern Oil and Gas (NOG) initiated with a Market Perform at Cowen... Northrop Grumman (NOC) initiated with an Underweight at JPMorgan... Oasis Petroleum (OAS) initiated with an Outperform at Cowen... PDC Energy (PDCE) initiated with an Outperform at Cowen... Pier 1 Imports (PIR) initiated with a Buy at Longbow... Plexus (PLXS) initiated with a Buy at B. Riley... Raytheon (RTN) initiated with a Neutral at JPMorgan... RetailMeNot (SALE) initiated with an Equal Weight at Morgan Stanley... Rockwell Collins (COL) initiated with a Neutral at JPMorgan... Spirit AeroSystems (SPR) initiated with an Overweight at JPMorgan... Starwood (HOT) initiated with a Buy at Canaccord... Strategic Hotels (BEE) initiated with a Buy at Canaccord... Summit Hotel Properties (INN) initiated with a Buy at Canaccord... Textron (TXT) initiated with a Neutral at JPMorgan... Time Warner Cable (TWC) initiated with a Buy at Deutsche Bank... TransDigm (TDG) initiated with an Overweight at JPMorgan... TrueCar (TRUE) initiated with an Equal Weight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Outperform at Cowen... XL Group (XL) initiated with an Overweight at Piper Jaffray... Zillow Group (Z) initiated with an Overweight at Morgan Stanley... Zynga (ZNGA) initiated with an Equal Weight at Morgan Stanley.
08:10 EDTAXASAbraxas Petroleum initiated with a Market Perform at Cowen
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05:13 EDTHEROHercules Offshore launches solicitation of votes for reorganization plan
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