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Stock Market & Financial Investment News

News Breaks
February 19, 2014
11:27 EDTPES, NBR, PDS, PKDNabors 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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August 26, 2015
07:06 EDTNBRNabors Industries board authorizes repurchase up to $400M of common shares
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August 18, 2015
10:00 EDTPKDOn The Fly: Analyst Upgrade Summary
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06:29 EDTPKDParker Drilling upgraded to Buy from Hold at Evercore ISI
Evercore ISI upgraded Parker Drilling to Buy with a $6.50 price target following recent management meetings. The firm believes shares are "severely undervalued" and wouldn't be surprised if the company went private in a few years.
August 14, 2015
13:56 EDTNBRU.S. greenlights crude oil export swaps with Mexico
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