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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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December 19, 2014
16:07 EDTNBRC&J Energy confirms Delaware Supreme Court overturns injunction
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13:55 EDTNBRDelaware Supreme Court rules C&J, Nabors merger can proceed
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10:17 EDTPKDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aviva (AV) upgraded to Outperform from Market Perform at Bernstein... Basic Energy (BAS) upgraded to Buy from Accumulate at Tudor Pickering... BioDelivery Sciences (BDSI) upgraded to Buy from Neutral at Roth Capital... CVS Health (CVS) upgraded at SunTrust... CVS Health (CVS) upgraded to Buy from Neutral at SunTrust... EPR Properties (EPR) upgraded to Hold from Underweight at KeyBanc... Ensco (ESV) upgraded to Accumulate from Hold at Tudor Pickering... First Marblehead (FMD) upgraded to Buy from Neutral at Compass Point... GOL Linhas (GOL) upgraded to Outperform from Neutral at Credit Suisse... Medical Properties Trust (MPW) upgraded to Hold from Underweight at KeyBanc... NVIDIA (NVDA) upgraded to Neutral from Underperform at BofA/Merrill... NewStar Financial (NEWS) upgraded to Buy from Neutral at Sidoti... Orange SA (ORAN) upgraded to Buy from Hold at Deutsche Bank... Parker Drilling (PKD) upgraded to Buy from Accumulate at Tudor Pickering... Potash (POT) upgraded to Buy from Neutral at UBS... Teekay Tankers (TNK) upgraded to Buy from Neutral at BofA/Merrill... Tidewater (TDW) upgraded to Accumulate from Hold at Tudor Pickering... Unum Group (UNM) upgraded to Buy from Neutral at Compass Point... WPP PLC (WPPGY) upgraded to Buy from Neutral at Citigroup... Weatherford (WFT) upgraded to Buy from Hold at Tudor Pickering.
09:25 EDTPKDParker Drilling upgraded to Buy from Accumulate at Tudor Pickering
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December 17, 2014
12:51 EDTNBRNY state to ban fracking next year, CNBC reports
Publicly traded companies in the oil services space include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT).
09:32 EDTNBRParkway Properties signs two leases totaling 213,000 square feet in Houston
Parkway Properties (PKY) announced that it has signed two leases totaling 213,000 square feet in Houston, Texas with Nabors Industries (NBR) and Bristow Group (BRS). Nabors Industries signed a 98,000 square foot expansion lease at One Commerce Green, located in the Greenspoint submarket of Houston, that expires on September 30, 2025. Bristow Group Inc. signed a 115,000 square foot new lease at CityWestPlace, located in the Westchase submarket of Houston, that expires on January 31, 2025. As of December 17, 2014, Parkway's Houston portfolio has approximately 418,000 square feet of 2015 lease expirations, which represents 9.5% of its total Houston portfolio. Parkway estimates a positive mark-to-market potential of approximately 27% on its 2015 Houston expirations and 34% on its 2016 Houston expirations.
December 16, 2014
05:44 EDTPESPioneer Energy downgraded to Hold from Buy at Wunderlich
Wunderlich downgraded Pioneer Energy to Hold with a $4 price target following the significant drop in crude oil prices.
December 12, 2014
14:54 EDTNBRNabors Industries volatility elevated as shares near six-year low
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December 9, 2014
10:23 EDTPKD, NBROn The Fly: Analyst Downgrade Summary
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08:09 EDTPESPioneer Energy cuts FY15 CapEx view to $195M-$215M
Pioneer Energy Services said in slides that will be presented at the 2014 Wells Fargo Energy Symposium that it has reduced its FY15 CapEx view to $195M-$215M given the current market outlook. Also, an additional five drilling rigs are expected to become idle in the next two to three months, primarily vertical rigs in West Texas upon the completion of current contracts. Says quarter-to-date well servicing utilization through November is 93%, quarter-to-date coiled tubing utilization through November is 49%.
07:50 EDTPKDParker Drilling downgraded to Neutral from Outperform at Macquarie
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05:51 EDTNBRNabors Industries downgraded to Hold from Buy at Jefferies
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December 8, 2014
06:04 EDTPDSPrecision Drilling divests U.S. coil tubing assets for C$44M
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