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Stock Market & Financial Investment News

News Breaks
February 10, 2014
05:58 EDTNATNordic American Offshore to buy two or more PSVs
Nordic American Offshore, which is sponsored by Nordic American Tankers and is managed by a subsidiary of NAT, currently has six platform supply vessels operating in the demanding North Sea market. PSVs are highly sophisticated vessels, representing the latest in design and technology, and they play an integral role in the logistical chain in offshore exploration and production of oil and gas. The two newbuildings will be delivered in January 2015 and cost about $44M each. Nordic American Tankers owns 26% of the share capital in NAO at a cost of $65 million. NAO will be operated essentially along the same strategic lines as NAT. This includes an active dividend policy and the prudent use of its resources to ensure a top-quality fleet at all times. The plan is for NAO to be listed on NYSE later this spring. NAO is now listed on the so-called OTC in Oslo, Norway. The stock price of NAO has gone up about 10% since it came onto the OTC at the end of November 2013.
News For NAT From The Last 14 Days
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April 14, 2015
09:13 EDTNATOn The Fly: Pre-market Movers.
UP AFTER EARNINGS: JPMorgan Chase (JPM), up 1%... Johnson & Johnson (JNJ), up marginally... Triangle Petroleum (TPLM), up 4.2%... Fastenal (FAST), up 5%. ALSO HIGHER: Brainstorm Cell Therapeutics (BCLI), up 13.5% after announcing that it will present NurOwn Phase 2a clinical data at the Academy of Neurology annual meeting... Builders FirstSource (BLDR), up 7.2% after being upgraded to Buy from Hold at Stifel... Solazyme (SZYM), up 7.5% after announcing a strategic agreement with Flotek (FTK)... Cleveland BioLabs (CBLI), up 6.8% after receiving funding recommendation from the Department of Defense... Nordic American Tanker (NAT), up 3.2% after raising quarterly dividend to 38c from 22c... Ocwen (OCN), up 3.8% after reporting preliminary fiscal 2014 results. DOWN AFTER EARNINGS: Wells Fargo (WFC), down just under 1%. ALSO LOWER: Norfolk Southern (NSC), down 5.8% after being downgraded to Hold from Buy at TD Securities... RXi Pharmaceuticals (RXII), down 14.3% after filing to sell $20M of common stock and warrants... Arrowhead Research (ARWR), down 4.5% after being downgraded to Hold from Buy at Jefferies.
05:33 EDTNATNordic American Tankers increases quarterly dividend to 38c from 22c
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