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Stock Market & Financial Investment News

News Breaks
February 19, 2014
11:27 EDTNBR, PKD, PDS, 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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September 16, 2014
08:15 EDTPESPioneer says there are accretive growth opportunities in four service lines
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07:42 EDTPESDeutsche Bank to hold a conference
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September 15, 2014
09:59 EDTPKDOn The Fly: Analyst Downgrade Summary
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07:18 EDTPKDParker Drilling downgraded to Equal Weight from Overweight at Stephens
Price target lowered to $8 from $9.
September 11, 2014
15:33 EDTNBRNabors to repurchase about $250M of shares, about 40% of Pamplona stake
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09:08 EDTNBRNabors Industries 25.6M share Spot Secondary priced at $24.10
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September 9, 2014
07:08 EDTPDSPeters & Co. Ltd to h old a conference
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September 3, 2014
08:51 EDTPESPioneer says all 4 core service lines have accretive growth opportunities
In terms of its estimated FY15 delivery dates, the company says that it expects two rigs in Q2, two rigs in Q3 and one rig in Q4. Says adding nine well servicing rigs, six wireline units and four coiled tubing units in FY14. Says adding 16 well servicing rigs and eight wireline units in FY15. Says executed five new build drilling rig contracts for delivery in FY15. Comments taken from slides from the company's Barclays CEO-Energy Conference presentation.
September 2, 2014
09:45 EDTPKDParker Drilling upgraded to Buy from Hold at Standpoint Research
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