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Stock Market & Financial Investment News

News Breaks
February 19, 2014
11:27 EDTPKD, PES, NBR, PDSNabors Industries hits 52-week high after results top expectations
Shares of land drilling contractor Nabors Industries (NBR) are advancing after the company reported fourth quarter results that easily surpassed expectations. Notably, the company also struck an optimistic tone about its near-term outlook. WHAT'S NEW: Last night, Nabors Industries reported Q4 earnings per share of 42c and revenue of $1.61B, easily topping expectations of 20c and $1.55B, respectively. The company noted that its EPS results benefited by about 16c from tax benefits, the full recovery of receivables in a customer bankruptcy settlement, and early termination payments. Nabors said it believes 2013 will represent the low point in its "protracted five-year trough" and that beginning in its second quarter the company foresees "substantial year-over-year quarterly improvement, which should accelerate in the second half." ANALYST REACTION: This morning, research firm CLSA upgraded Nabors Industries to Outperform from Underperform. PRICE ACTION: In late morning trading, Nabors Industries rose $2.00, or 10.6%, to $20.64 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $20.74. Including today's move, the stock has gained about 14% over the past twelve months. OTHERS TO WATCH: Other drilling contractors include Parker Drilling (PKD), Precision Drilling (PDS) and Pioneer Energy Services (PES), which are all trading higher this morning.
News For NBR;PKD;PDS;PES From The Last 14 Days
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May 29, 2015
10:01 EDTNBR, PDSOn The Fly: Analyst Initiation Summary
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06:25 EDTPDSPrecision Drilling initiated with a Neutral at JPMorgan
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06:24 EDTNBRNabors Industries initiated with an Overweight at JPMorgan
Target $21.
May 26, 2015
09:58 EDTNBROn The Fly: Analyst Downgrade Summary
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07:22 EDTNBR, NBRNabors Industries downgraded to Underperform from Outperform at CLSA
CLSA downgraded Nabors Industries to Underperform from Outperform despite raising its price target to $16 from $13. CLSA's analyst believes the advancement of unconventional drilling has been one of the most disruptive technologies in the sectors' history and will derail cycle normalization near-term. The firm believes the industry will need half as many rigs to keep production flat until attrition right-sizes the industry.
May 21, 2015
07:25 EDTNBR, PKDUBS to hold a conference
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May 20, 2015
07:26 EDTPESUBS to hold a conference
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