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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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February 2, 2016
10:10 EDTPDSPrecision Drilling downgraded to Market Perform at Raymond James (pre-open)
Raymond James downgraded Precision Drilling to Market Perform from Outperform.
07:18 EDTNBRJefferies sees relative value in Nabors Industries
Jefferies analyst Brad Handler believes shares of Nabors Industries (NBR) can outperform Patterson-UTI (PTEN) over the near term and Helmerich & Payne (HP) over the longer term. His analysis suggests Nabors likely avoids covenant breach and has adequate liquidity to weather the downturn. Handler keeps a Hold rating on Nabors, however, with a reduced price target of $7.
January 29, 2016
10:05 EDTPDSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Equity (AEL) initiated with an Outperform at RBC Capital... Calpine (CPN) initiated with a Buy at Guggenheim... Diamondback Energy (FANG) initiated with an Outperform at BMO Capital... Dynegy (DYN) initiated with a Neutral at Guggenheim... ICF International (ICFI) initiated with a Market Perform at Barrington... Juno Therapeutics (JUNO) initiated with a Buy at SunTrust... Kite Pharma (KITE) initiated with a Buy at SunTrust... Match Group (MTCH) initiated with a Neutral at Susquehanna... Medifast (MED) initiated with a Hold at Wunderlich... NRG Energy (NRG) initiated with a Buy at Guggenheim... NRG Yield (NYLD) initiated with a Neutral at Guggenheim... Nutrisystem (NTRI) initiated with a Buy at Wunderlich... Parsley Energy (PE) initiated with an Outperform at BMO Capital... Precision Drilling (PDS) initiated with a Hold at Canaccord... RSP Permian (RSPP) initiated with an Outperform at BMO Capital... Taylor Morrison (TMHC) initiated with a Neutral at Citi... Tortoise North American Energy (TYN) initiated with a Neutral at Guggenheim... WisdomTree (WETF) initiated with a Neutral at Northcoast.
07:38 EDTPDSPrecision Drilling initiated with a Hold at Canaccord
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January 25, 2016
10:01 EDTNBRNabors Industries downgraded to Hold from Accumulate at Tudor Pickering
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