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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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November 26, 2014
16:09 EDTNBRC&J Energy announces solicitation of alternative proposals
C&J Energy Services (CJES) announced that it has begun soliciting alternative proposals to purchase the company, or a controlling stake in the company, that are superior to its proposed combination with Nabors' (NBR)completion and production services business. The company has engaged Morgan Stanley to assist in the solicitation.
November 25, 2014
16:28 EDTNBROn The Fly: Closing Wrap
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09:42 EDTPDS, NBRNorth American Shale Drilling Services sector downgraded at OTR Global
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08:05 EDTNBRC&J Energy issues statement in response to ruling regarding Nabors transaction
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07:55 EDTNBRC&J Energy deal with Nabors put on hold, further sale process ordered, WSJ says
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November 18, 2014
14:57 EDTPDSPrecision Drilling management to meet with Jefferies
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09:56 EDTPDSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Allergan (AGN) downgraded to Market Perform from Outperform at William Blair... Wells Fargo (WFC) downgraded to Market Perform from Outperform at BMO Capital... Allergan downgraded to Neutral from Buy at Guggenheim... Allergan downgraded to Neutral from Buy at SunTrust... Basic Energy (BAS) downgraded to Neutral from Buy at SunTrust... CBS (CBS) downgraded to Neutral from Overweight at Atlantic Equities... Key Energy (KEG) downgraded to Neutral from Buy at SunTrust... Macy's (M) downgraded to Neutral from Buy at BofA/Merrill... Statoil (STO) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Market Perform from Outperform at Telsey Advisory... Urban Outfitters downgraded to Market Perform from Outperform at William Blair... Urban Outfitters downgraded to Neutral from Overweight at Atlantic Equities... Baker Hughes (BHI) downgraded to Hold from Buy at Argus.... Precision Drilling (PDS) downgraded to Market Perform at Raymond James.
09:34 EDTNBRRBC Capital to hold a tour
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08:54 EDTPDSPrecision Drilling downgraded to Market Perform at Raymond James
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06:11 EDTNBRNabors Industries initiated with a Neutral at SunTrust
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November 13, 2014
15:45 EDTNBRHalliburton, Baker Hughes in fast-moving merger talks, WSJ reports
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