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Stock Market & Financial Investment News

News Breaks
February 19, 2014
11:27 EDTNBR, PDS, PKD, 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
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August 5, 2015
05:27 EDTPKDParker Drilling reports Q2 EPS (11c), consensus (12c)
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August 4, 2015
16:42 EDTNBRNabors Industries reports Q2 EPS 9c, consensus (9c)
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July 30, 2015
06:31 EDTPESPioneer Energy reports Q2 adjusted EPS (17c), consensus (22c)
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July 28, 2015
11:44 EDTPDSPrecision Drilling management to meet with Evercore ISI
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July 27, 2015
06:20 EDTNBRU.S. oil firms preparing for extended job cuts, WSJ reports
U.S. energy companies intend to cut more jobs, sell more assets, and engage in more financial maneuvers to deal with the recent drop in U.S. crude-oil prices to below $50 a barrel, the Wall Street Journal reports. Companies have started to warn that more layoffs will come, particularly Halliburton (HAL) and Baker Hughes (BHI), who disclosed last week that they had cut 27,000 jobs between them, the report says. Job cuts for the industry are beginning to extend to engineers and scientists, the report adds. Publicly traded companies in oil industry include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Other publicly traded companies in the 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). Reference Link
July 24, 2015
10:00 EDTPDSOn The Fly: Analyst Upgrade Summary
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08:04 EDTPDSPrecision Drilling upgraded to Outperform at Scotia Howard Weil
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06:10 EDTPDSPrecision Drilling upgraded to Outperform from Sector Perform at Scotia
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July 23, 2015
06:17 EDTPDSPrecision Drilling reports Q3 EPS (10c), consensus (19c)
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