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Stock Market & Financial Investment News

News Breaks
February 19, 2014
11:27 EDTNBR, PKD, PDS, PESNabors 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
Check below for free stories on NBR;PKD;PDS;PES the last two weeks.
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July 24, 2014
06:30 EDTPDSPrecision Drilling reports Q3 EPS (C$0.02) vs. C$0.00 last year
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July 23, 2014
10:02 EDTPDSOn The Fly: Analyst Upgrade Summary
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09:10 EDTPDSPrecision Drilling upgraded to Accumulate from Hold at Tudor Pickering
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July 22, 2014
17:38 EDTNBRNabors Industries optimistic about the growth prospects for venture
Company concluded, "It is becoming increasingly apparent that virtually every element of our business is experiencing improving fundamentals manifested through improving utilization and pricing. Construction of the numerous new rigs we have in progress remains on track and within budget. The contribution of these deployments combined with a favorable pricing environment across every market and the incremental demand for new rigs globally yield a high degree of growth visibility for the foreseeable future. We are particularly optimistic about the growth prospects for our venture with C&J in the Completion & Production Services business."
17:36 EDTNBRNabors Industries reports Q2 EPS with items 21c, consensus 23c
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July 16, 2014
10:00 EDTPDSOn The Fly: Analyst Upgrade Summary
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09:23 EDTPDSOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
06:59 EDTPDSPrecision Drilling upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Precision Drilling to Buy citing improved commodity pricing and a clearer path forward on LNG related drilling. The firm raised its price target for shares to C$16 from C$14.
06:12 EDTPDSPrecision Drilling announces strategic agreement with Schlumberger
Precision Drilling (PDS) announced it had entered into a strategic technology and service agreement and marketing alliance with Schlumberger (SLB). The agreement aims to increase the industrialization of unconventional drilling in North America through an engineered approach that utilizes Precision's Tier 1 drilling rigs and allows Precision access to Schlumberger's bottomhole assembly and services. The agreement applies to Canada and the Lower 48 states in the U.S. and includes contract drilling services, downhole drilling and measurement technology, engineering expertise and operational training. Through this agreement, Precision will continue to expand its integrated directional drilling services utilizing Schlumberger's downhole tools and related services supported by drilling engineering and modeling, component integration, industry leading subsurface knowledge and expertise, and high-quality measurements.

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