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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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November 27, 2015
13:22 EDTPESOn The Fly: Top stock stories for Friday
Stocks on Wall Street were mixed following the short Black Friday session. In addition to periodic checks on traffic at malls and big box retailers, the day's media coverage was dominated by discussion of Disney's disclosure that subscribers for ESPN have dropped about 3% from last year's levels. ECONOMIC EVENTS: In the U.S., no major data was released, as several reports that usually come out on Thursdays or Fridays were accelerated into Wednesday due to the holiday. In China, shares of brokerages sold off sharply, with Citic Securities, Founder Securities and China Merchants all falling about 10% on news that the China Securities Regulatory Commission had launched investigations into the firms in an effort to limit short selling and speculation. Amid the rout in the brokerages, the Shanghai Composite index tumbled 5.5%. COMPANY NEWS: Shares of Disney (DIS) fell $3.56, or 3.0%, to $115.11 after the media giant disclosed in a regulatory filing late Wednesday that domestic subscribers for ESPN were estimated to have declined by 3M. As of October 3, ESPN had 92M subscribers in the U.S., as estimated by Nielsen Media Research. In the company's 10-K filing last year, Disney stated that Nielsen estimated that ESPN had 95M subscribers as of September 27, 2014. Disney's weakness weighed on its big media peers as well, with Twenty-First Century Fox (FOX, FOXA) falling 1.2%, Time Warner (TWX) dropping 0.74% and Viacom (VIA, VIAB) sliding 1.8%... Amazon (AMZN) shares were flattish, falling 0.3% despite Adobe Systems estimating that online shoppers in the U.S. would spend $1.7B in online shopping by the end of the day on Thanksgiving, a 22% jump from last year. Additionally, ChannelAdvisor estimated that Amazon had a "strong showing" on Thanksgiving day, calculating that its same-store sales grew 28.9% compared to last year. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rose 3.8% to $9.23 after the Centers for Medicare and Medicaid Services, or CMS, posted the 2016 Clinical Diagnostic Laboratory Fee Schedule. Exact Sciences announced this morning that it has requested that CMS clarify the 2016 reimbursement rate for the company's Cologuard test. Also higher were shares of KaloBios Pharmaceuticals (KBIO), which jumped 30.8% to $34.83 after its new CEO, Martin Shkreli, announced last night via his Twitter account that after speaking with his counsel and advisers that he has decided to stop lending his KaloBios shares out until he "better [understands] the advantages of doing so." Among the noteworthy losers were a number of oil and gas explorers, as Pioneer Energy Services (PES), Stone Energy (SGY) and Southwestern Energy (SWN) fell 8%, 10.2% and 7.2%, respectively, during another down day for oil prices. INDEXES: The Dow fell 14.90, or 0.08%, to 17,798.49, the Nasdaq gained 11.38, or 0.2%, to 5,127.52, and the S&P 500 added 1.24, or 0.06%, to 2,090.11.
November 16, 2015
19:29 EDTPDSPrecision Drilling management to meet with JPMorgan
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07:17 EDTNBRSeaport Global to hold a conference
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